ORGANIZATION' OF COOPERATIVE GRAIN ELEVATOR COMPANIES. 11 
Article VIII. — Earnings. 
1. Apportioned : 
(a) Surplus. 
(b) Dividend on capital stock. 
(c) Educational. 
(d) Patronage refund. 
2. Method of refund : 
(a) Grain rate. 
(b) Miscellaneous products rate, 
(c) Merchandise rate. 
3. Members' share. 
4. Nonmembers' share. 
5. Disposal of unapportioned share and 
nonmembers' unapplied refund. 
6. Notice of refund due nonmembers. 
7. Capital impairment. 
Article IX. — Sundry Provisions. 
1. Fiscal year. 
2. Indebtedness. 
3. Extension of credit. 
4. Collective buying. 
5. Withholding dividends. 
6. Withholding patronage refunds. 
7. Emergency capital. 
8. Speculation. 
9. Corporate seal. 
10. Amendments. 
AETICLE I. C0EP0EATE PlJEPOSE. 
Section 1. Name and location. — This Association shall be known as [The 
Grain Growers' Cooperative Association] 1 and shall be 
incorporated under the laws of the State of Its princi- 
pal office shall be located in the town of , county of 
, in the State of . 
Note. — Some of the State cooperative laws provide that the word " cooperative " 
shall form a part of the name of organizations incorporated thereunder. All asso- 
ciations should be incorporated under the laws of the State in which they are 
located. 
Sec. 2. Objects. — The objects of this Association shall be to encourage better 
and more economical methods of production ; to save to its members and others 
all unnecessary cost in the marketing and distribution of grain, seeds, live 
stock and farm products of all kinds; to buy cooperatively fertilizers, feeds, 
fuel, machinery, and all material and supplies ordinarily used on the farm ; to 
cultivate and develop cooperative activity, and to perform any other work which 
may tend to benefit its. members or the community in general. 
Sec 3. Poivers. — This Association shall have power to buy and sell and other- 
wise deal in, for its own account or on commission, any or all of the products 
and supplies described in section 2 hereof; to operate grain warehouses and 
flour and feed mills; to prepare and distribute cooperative literature and edu- 
cational matter ; to lease, buy, build, own, improve, mortgage, sell, and control 
such buildings and other real and personal property as may be necessary to 
conduct the business or as the association may from time to time determine. It 
shall have power to affiliate and cooperate, by membership or otherwise, with 
any other cooperative company or association ; to subscribe and invest, not to 
exceed [twenty-five per cent] of its capital stock and surplus, in the capital 
stock of any other cooperative company or association having the same or 
similar objects and purposes as this Association, but no such action shall be 
taken except at a regular meeting or a special meeting called for the purpose at 
which [a majority] of all the members shall be present or voting. It shall 
have power to do anything and everything, not inconsistent with law, which is 
necessary or desirable to accomplish the objects and purposes herein stated. 
Note. — The objects and powers of the Association should be stated as definitely 
as possible, but they should also be made sufficiently broad to cover any future 
activities. State statutes will have to be consulted in order to determine what may 
or may not be included in this article. 
X A11 matter appearing in brackets is suggestive only and is to be altered to suit the 
best interests of each individual association. 
