Show DEVElOPMENT BODIES MAY BE INCORPORATED With the view yiew of at brin bringing greater development to the state stale through the extension of or operative co-operative associations D D. D D. D McKay IcKa of or Weber county introduced introduced introduced intro intro- a bill in the lower house today permitting these associations to be In Incorporated incorporate incorporated in- in corporate under the tho laws of or the line state Under tho tiro existing laws cooperative cooperative opera co tive associations aro are not allowed to in incorporate incorporate incorporate in- in corporate their organizations The Tho bill would extend to these organizations the same rights and privileges enjoyed by other corporations Shares in the incorporations must hot bo be for tor more than 10 nor less than 1 Xo No Individual member is to hold haM holdstock stock of or a greater reater par value than 1000 No member Is to have more than one vote oto in the affairs of ot the association No 10 distribution of ot profits can be bo made until 10 per cent of the net earnings earnings earn earn- ings Ins have havo been appropriated for tor a a. sinking fund until an amount has ac accumulated accumulated accumulated ac- ac cumulated equal to 30 per cent of or the capital stock I No stock ma may bo transferred to a aI I stockholder unless consent conent Is given by majority t vote vole of ot the board boar of or directors |