Guam § 13105 - Powers of Association.

§ 13105. Powers of Association.

Each association incorporated under this Chapter may:

(a) Activities that may be Engaged in. Engage in any activity in

connection with the marketing, selling, preserving, harvesting, drying,

processing, manufacturing, canning, packing, grading, storing, handling or

utilization of any products produced or delivered to it by its members; or the

manufacturing or marketing of the by-products thereof; or any activity in

connection with the purchase, hiring, or use by its members of supplies,

machinery or equipment, or in any one or more of the activities specified in

this section.

(b) Borrowing and Advances. Borrow without limitation as to amount

of corporate indebtedness or liability and may make advances to members.

(c) Act as the Agent or representative of any member or members in

any of the above-mentioned activities.

(d) Ownership and Dealing in Shares and Bonds. Purchase or

otherwise acquire, hold, own, and exercise all rights of ownership in, sell,

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transfer, pledge, or guarantee the payment of dividends or interest on, or the

retirement or redemption of, shares of the capital stock or bonds of any

corporation or association engaged in any related activity or in the

warehousing or handling or marketing or packing or manufacturing or

processing or preparing for market of any of the products handled by the

association.

(e) Reserves and Investments. Establish reserves and invest the funds

thereof in bonds or in such other property as may be provided in the bylaws.

(f) Property Ownership. Buy, hold and exercise all privileges of

ownership over such real or personal property as may be necessary or

convenient for the conduct and operation of any of the business of the asso-

ciation, or incidental thereto.

(g) Assessments. Levy assessments in the manner and in the amount as

may be provided in its bylaws.

(h) Other Things Necessary, Suitable or Proper. Do each and

everything necessary, suitable or proper for the accomplishment of any one

of the purposes or the attainment of any one or more of the objects herein

enumerated; or conducive to or expedient for the interest or benefit of the

association; and contract accordingly; and in addition exercise and possess

all powers, rights and privileges necessary or incidental to the purposes for

which the association is organized or to the activities in which it is engaged;

and, in addition, any other rights, powers and privileges granted by the laws

of this territory to ordinary corporations, except such as are inconsistent

with the express provisions of this Chapter, and do any such thing

anywhere.

(i) Purposes for Which Facilities may be used or Employed. Use or

employ any of its facilities for any purpose, provided the proceeds arising

from such use and employment shall go to reduce the cost of operation for

its members; and provided, further, that the products handled for or the

services, machinery, equipment or supplies or facilities furnished to non-

members shall not exceed in value the products handled for or the services,

merchandise or facilities supplied to members during the same period.