COOPERATIVE PURCHASING AND MARKETING ORGANIZATIONS. 77 



WISCONSIN. 



Scope and purpose: Any agricultural, dairy, mercantile, mining, manufacturing, 

 or mechanical business. 



Number who may organize: Five or more. 



Piling of articles of incorporation and amendments: With secretary of state and the 

 register of deeds of the county in which the principal place of business is located. 



Filing fee: $10 to secretary of state and 25 cents to register of deeds. For amend- 

 ments, $5 to secretary of state. 



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

 vice presidents, secretary, ^and treasurer. The last two may be combined. 



Stock ownership: Not more than $1,000. 



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

 per cent of capital may be thus invested. 



Voting: Each member one vote. 



Voting by mail: Permitted if copy of question accompanies vote. 



Distribution of earnings: Stock dividends not to exceed 6 per cent of net earnings 

 to reserve fund until 30 per cent of paid-up capital stock is accumulated, 5 per cent of 

 net profits to educational fund, patronage dividends to stockholders and employees 

 and to nonstockholders at one-half rate. 



Dissolution: If no profits are paid for five or more years, five or more stockholders 

 may apply to circuit court. 



Annual reports: 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 

 organized after passage of this act unless it complies with act. 



WYOMING. 



Scope and purpose: Agricultural, dairy, live stock, irrigation, horticultural, mer- 

 cantile, manufacturing, or industrial business. 



Number who may organize: Five or more. 



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

 clerk of counties in which business is carried on. 



Filing fee: Same as for general corporations. 



Management: Not less than three directors. 



Issuance of stock: When paid for in full. 



Stock ownership: Not more than $1,000 or one-third of outstanding stock. 



Voting: Each member one vote. 



Voting by mail or proxy: Not permitted unless provided in by-laws. 



Distribution of earnings: May be revised by stockholders, not to exceed 8 per cent 

 capital stock dividends, not less than 10 per cent of net earnings to reserve fund until 

 30 per cent of paid-up capital stock is accumulated, patronage dividends to non- 

 members may be provided in by-laws. 



Annual reports: Statement to be kept on file with the secretary of the association. 



Use of the word "cooperative " : Not to be used as part of the name unless this act is 

 complied with. 



THE CLAYTON AMENDMENT TO THE UNITED STATES ANTITRUST 



LAWS. 



In preparing State laws authorizing cooperative organizations, 

 consideration should be given to the United States antitrust laws, 

 especially the amendment thereto commonly known as the Clayton 

 amendment, which was passed by the Sixty-third Congress. Section 



