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FOREWORD HIS publication represents the third major revision of a bulletin pre

pared by L. S. Hulbert and originally issued in October 1922, as Department Bulletin No. 1106, of the United States Department of Agriculture.

The first extensive revision of the bulletin was issued in October 1929 and retained the number 1106. The next major revision was last issued as Farm Credit Administration Bulletin No. 50 in May 1942. Since Mr. Hulbert left the Department of Agriculture in December 1950, the current revision is entirely the work of Raymond J. Mischler, with the assistance of Farmer Cooperative Service.

The last 30 years have not only seen a tremendous expansion of cooperation among agricultural producers, but also a marked development in the statute law and judicial precedents establishing and clarifying the legal status of farmer cooperatives. Mr. Hulbert's bulletin has played a significant part in this development.

One of the functions assigned to the Farmer Cooperative Service under the Cooperative Marketing Act of 1926 (7 U. S. C. A. 451 et seq.) is “To conduct studies of the * * * legal * * * phases of cooperation, and publish the results thereof." Since May 1942, when the third revision of Mr. Hulbert's bulletin was released, many new developments have occurred and many additional cases have been decided affecting the legal aspects of farmer cooperatives. Accordingly, this revision has been made in furtherance of the responsibility of the Service under the law. The new matter for the most part has been woven into the text of Mr. Hulbert's bulletin, without disturbing its existing format or basic text which has had such wide favorable reception and use by those charged with the responsibility of advising farmer cooperatives on their legal problems.

Although this bulletin is published by Farmer Cooperative Service, it should be regarded as representing the conclusions, opinions, and findings of the author and reviser and not necessarily the official views of the Service or the Department of Agriculture.

JOSEPH G. KNAPP
Administrator
Farmer Cooperative Service

Bankruptcies and receiverships.

Marketing contracts....

When may cooperative marketing contracts be made?

Kinds of cooperative marketing contracts.

When marketing contracts become effective.

Duration of marketing contracts.

Signing marketing contracts.

Contracts obtained by force or fraud..

When title to products passes to the association.

Restrictions on association's right to sell.

Pooling ....

Excess advances or payments.

Effect of breach of contract.

Defenses to contracts.

Deductions.

Assessments.

Assets and creditors.

Nonprofit associations

Equality of treatment.

Nonmember business.

Control of crops by landlord.

Crop mortgages.

Liquidated damages.

Specific performance.

Injunctions.

Interference with marketing contracts.

Transfers in attempts to avoid contiacts.

Conclusive presumption.

Monopoly and restraint of trade

Section 6 of the Clayton Act.

Capper-Volstead Act.

Classification of agriculture.

Promissory notes. .

Agency.

Cooperatives as agents.

Cooperatives liable for acts of agents.

Taxes...

General taxes..

Federal income taxes.

Taxation of “exempt cooperatives .

Taxation of nonexempt cooperatives .

Taxability of patronage refunds to patrons

Corporations organized to finance crop operations.

Mutual insurance companies or associations .

Patronage refunds..

Revolving-fund plan of financing

Associations operating in various States.

Associations and third persons.

Hedging..

Unincorporated associations.

Characteristics

How formed..

Admission of members in unincorporated associations.

Membership nontransferable...

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