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Director Liability in Agricultural Cooperatives

Author

Listed:
  • Fee, Douglas
  • Hoberg, Allen C.
  • McCormick, Linda Grim

Abstract

Farmers and others who serve as directors of farmer cooperatives are subject to responsibility rules applicable to all corporations and are subject to the same liabilities when those responsibilities are not met. This study surveys and discusses sources of liability faced by cooperative directors and suggests practices and behavior that may help avoid liability risks. The common law sources of liability are described. Liability of directors for criminal activities is noted, and statutory laws placing liability on directors for their violation are outlined. Liabilities for improper distribution of dividends, depletion of capital, improper patronage refunds, and antitrust violations are singled out for discussion.

Suggested Citation

  • Fee, Douglas & Hoberg, Allen C. & McCormick, Linda Grim, 1984. "Director Liability in Agricultural Cooperatives," Cooperative Information Reports (CIR) 280567, United States Department of Agriculture, Rural Development.
    • Handle: RePEc:ags:urdcir:280567
    DOI: 10.22004/ag.econ.280567
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    Keywords

    Agribusiness;

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