Section 2.110 - Powers of Cooperative Association(a) Except as provided by Chapter 251, a cooperative association may exercise the same powers and privileges and is subject to the same duties, restrictions, and liabilities as a nonprofit corporation.(b) A cooperative association may:(1) own and hold membership in other associations or corporations;(2) own and hold share capital of other associations or corporations;(3) own and exercise ownership rights in bonds or other obligations;(4) make agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, or other nonprofit groups; and(5) deliver money to a scholarship fund for rural students.Tex. Bus. Org. Code § 2.110
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.