COOPERATIVE PURCHASING AND MARKETING ORGANIZATIONS, 69 
ILLINOIS. 
Scope and purpose: General mercantile, manufacturing, or producing business. 
Number who may organize: Five or more. 
Filing of articles of incorporation: With secretary of state. 
Filing of amendment: With secretary of state and recorder of deeds in county in 
which principal place of business is located. 
Management: Not less than five directors. Officers shall be president, vice presi- 
dent, secretary, and treasurer. The last two may be combined. 
Capital stock: Shares not less than $5 or more than $100 in value. 
Stock ownership^: Limited to five shares. 
Transfer of stock: By-laws may provide that corporations shall have first right to 
purchase any stock for sale. 
Purchasing business of other associations: By a two-thirds vote of at least two- 
thirds of the members, the corporation may invest its surplus to the extent of 25 per 
cent of its paid-up capital in the capital stock of other cooperative associations; the 
board of directors may invest not to exceed 10 per cent of the paid-up capital in the 
same manner. 
Voting by mail and proxy : Vote by mail to count if voter has been notified in writing 
and copy of question is attached to vote. Written proxies are permitted. 
Distribution of earnings: According to by-laws. 
Annual reports: Made to secretary of state before March 1. 
Provisions for existing organizations: May come under this act by filing sworn 
statement that members have so decided by at least two-thirds majority. 
Use of word "cooperative": No corporation formed after passage of act permitted 
to use the name "cooperative" unless complying with this act. 
INDIANA. 
Scope and purpose: Any lawful business. 
Number who may organize: Twenty- five or more. 
Filing of articles of incorporation : With secretary of state. 
Filing fee: Same as for other corporations. 
Stock ownership: May be limited by by-laws. 
Transfer of stock: May be regulated by by-laws. 
Distribution of earnings: According to by-laws. 
Provisions for existing organizations: May come under act by filing declaration with 
secretary of state. 
IOWA. 
Scope and purpose: Agricultural, dairy, mercantile, manufacturing, or mechanical 
business. 
Number who may organize: Five or more. 
Filing of articles of incorporation and amendments: With secretary of state and the 
recorder of deeds of the county iu which the principal place of business is located. 
Filing fee: Ten dollars to secretary of state for filing articles, and $5 for amend- 
ments, provided that if capital stock is less than $500 the fee shall be $1. Recorder 
of deeds to receive the usual recording fee. 
Management: Not less than five directors. Officers shall be president, one or 
more vice presidents, secretary, and treasurer. The last two may be combined. 
Issuance of stock: When paid for in full. 
Stock ownership: Not to exceed $1,000. 
Purchasing of business of other associations: By a majority vote may invest not to 
exceed 25 per cent of its capital. 
Voting: Each member one vote. 
