COOPERATIVE PURCHASING AND MARKETING ORGANIZATIONS. 7l 
MICHIGAN (CAPITAL STOCK). 
Scope and purpose: Merchandise, agricultural, or manufacturing business. 
Number who may organize: Five or more. 
Filing of articles of incorporation and amendments: With secretary of state and clerk 
of county in which principal place of business is located. 
Filing fee : Same as other corporations. 
Management: Not less than five directors. Officers shall be president, vice presi- 
dent, secretary, and treasurer. The last two may be combined. 
Issuance of stock: When paid for in full. 
Stock ownership: Not over $1,000. 
Voting: Each member one vote. 
Voting by mail: Vote by mail to count if voter has been notified in writing and 
copy of question is attached to vote. 
Distribution of earnings: Subject to revision by the association, 6 per cent stock 
dividends, 10 per cent of net profits for reserve fund until 30 per cent of paid-up capital 
is accumulated, patronage dividends may be paid to nonmembers at one-half the rate 
to members. 
Annual reports: Made to secretary of state. 
Provisions for existing organizations: May come under act by complying with its 
provision and filing sworn statement with secretary of state. 
MINNESOTA. 
Scope and purpose: Any lawful mercantile, manufacturing, or agricultural business. 
Filing of articles of incorporation: With register of deeds of the county in which the 
principal place of business is located. 
Management: President, treasurer, and not less than three directors. 
Capital stock: Not to exceed $100,000. For creameries not to exceed $25,000. 
Issuance of stock: When paid for in full. 
Stock ownership: Not over $1,000. 
Voting: Each member one vote. 
Distribution of earnings: According to by-laws. 
Dissolution: If no dividends are paid for five consecutive years five or more mem- 
bers may apply to district court. 
Annual report: Creameries report to dairy and food department. 
MONTANA. 
Scope and purpose : Trade or any branch of industry, purchase or distribution of 
commodities for consumption, borrowing or lending money. 
Number who may organize : Not less than three nor more than seven incorporators . 
Filing of articles of incorporation: Secretary of state. 
Filing fee: $5. 
Capital stock: Shares not less than $10 or more than $5,000 each. 
Stock ownership: One share each. 
Voting: Each member one vote. 
NEBRASKA. 
Scope and purpose: Any lawful business. 
Number who may organize: Not less than 25. 
Filing of articles of incorporation: With secretary of state. 
Filing fee: Same as for other corporations. 
Stock ownership: According to by-laws. 
Transfer of stock: According to by-laws. 
Distribution of earnings: According to by-laws. 
Provision for existing organizations: May come under act by filing sworn state- 
ment with secretary of state. 
