Sec. 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.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.