76 BULLETIN 547, U. S. DEPARTMENT OF AGRICULTURE. 



Stock ownership: Not to exceed $1,000. 



Purchasing of business of other organizations: By majority vote, not to exceed 25 

 per cent of its capital. 



Voting: Each member one vote. 



Voting by mail: Permitted if vote is accompanied by a copy of the question. 



Distribution of earnings: May be revised by association, stock dividends not to 

 exceed 6 per cent, not less than 10 per cent of net profits to reserve until 30 per cent 

 of paid-up capital stock is accumulated, 5 per cent of net profits for educational f uud, 

 patronage dividends to shareholders and employees and to nonshareholders at one- 

 half rate. 



Dissolution: If no stock dividends are paid for three successive years, five or more 

 may apply to circuit court. 



Use of word "cooperative": Not to be used as part of name by any organization 

 formed after the passage of this act unless it complies with act. 



WASHINGTON (NONSTOCK). 



Scope and purpose: Any lawful purpose except carrying on of a busniess, trade 

 avocation, or profession for profit. 



Number who may organize: Five or more. 



Filing of articles of incorporation: With secretary of state and county auditor of 

 county in which principal place of business is located. ., 



Filing fee: Same as for stock corporations. 



Management: According to by-laws. 



Capital stock : Nonstock. 



Voting: All members have equal power. 



Dissolution: Upon written request of two-thirds of the members. 



Provisions for existing organizations: So deciding by a majority vote and filing state- 

 ment with secretary of state and county auditor. 



WASHINGTON (CAPITAL STOCK). 



Scope and purpose: Any lawful business. 



Number who may organize: Five or more. 



Filing of articles of incorporation and amendments: With secretary of state and 

 county auditor of county in which principal place of business is located. 



Filing fee: $25 to secretary of state and 15 cents per 100 words to auditor. For 

 amendments, $10 to secretary of state and 15 cents per 100 words to auditor. 



Management: Not less than three directors. Officers shall be president, one or more 

 vice presidents, secretary, and treasurer. 



Issuance of stock: When paid for in full. 



Stock ownership: Not more than one-fifth of stock. 



Purchasing of business of other associations: By a majority vote of a majority of the 

 stockholders. 



Voting: Each member one vote. 



Voting by mail: Permitted if accompanied by a written copy of the question. 



Distribution of earnings: Capital stock dividends not to exceed 8 per cent, 10 to 25 

 per cent of remainder of net profits to reserve fund, patronage dividends to members, 

 to nonmembers at one-half the rate to members. 



Annual report: To secretary of state. 



Provisions for existing organizations: Filing sworn statement with secretary of state. 



Use of word "cooperative": Not to be used as part of name by any corporation not 

 complying with this act. 



