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House Journal: Page 1432: Thursday, April 9, 1998

 9   under this chapter in which the commodity share
10   landlord acquires an interest."
11     21.  Page 7, line 3, by striking the words "grain
12   or forage" and inserting the following:  "forage or
13   grain".
14     22.  Page 7, line 5, by striking the word "has"
15   and inserting the following:  "holds".
16     23.  Page 7, line 10, by striking the word "crop"
17   and inserting the following:  "grain".
18     24.  Page 7, line 16, by striking the word "An"
19   and inserting the following:  "Except as provided in
20   this section, an".
21     25.  Page 7, lines 18 and 19, by striking the
22   words "a ten percent or greater" and inserting the
23   following:  "an".
24     26.  Page 7, by striking line 28 and inserting the
25   following:  "However, notwithstanding section 9H.4,
26   all of the following shall apply:
27     (1)  A cooperative".
28     27.  Page 7, line 32, by striking the words "one
29   thousand five hundred" and inserting the following:
30   "six hundred forty".
31     28.  Page 7, by inserting after line 32 the
32   following:
33     "(2)  An interest in agricultural land held by a
34   farmers cooperative association shall not be
35   attributable to a member who is an entity organized
36   under state law, if the entity holds a five percent or
37   less interest in the farmers cooperative association."
38     29.  Page 8, by striking lines 4 through 6 and
39   inserting the following:  "cooperative association by
40   operation of law, the association may disregard the
41   transfer for".
42     30.  Page 8, by inserting after line 23 the
43   following:
44     "Sec. ___.  NEW SECTION.  10.8A  PROCEDURE FOR
45   ACQUISITION - REVERSE REFERENDUM; DISSENT.
46     A farmers cooperative association shall not acquire
47   an interest in agricultural land or in a farmers
48   entity, unless all of the following apply:
49     1.  The board of directors of the farmers
50   cooperative association adopts a resolution

Page 6

 1   authorizing the acquisition.  Except as provided in
 2   this section, the resolution shall become effective
 3   thirty-one days from the date that the resolution was
 4   adopted.  The farmers cooperative association is not
 5   required to comply with the procedures of this section
 6   for as long as the resolution remains in effect.  The
 7   resolution shall contain all of the following:
 8	a.  A declaration stating that the farmers

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Last update: Fri Apr 10 13:40:04 CDT 1998
URL: /DOCS/GA/77GA/Session.2/HJournal/01400/01432.html
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