COOPERATIVE AGRICULTURE IN FLORIDA 17

from the very beginning so that they will be understand-
able even years later. Nothing should be left to memory
or to loose papers. Bound minute books and ledgers are
much safer. The secretary, treasurer, or the secretary-
treasurer is charged with the responsibility of preserv-
ing these important records
 12. Q. WHO MAY BECOME MEMBERS?
 A. An association may admit as members all per-
sons engaged in the production of agricultural products.
One cooperative, as an organization, may hold member-
ship in another association.
 13. Q. WHAT IS REQUIRED OF A MEMBER?
 A The requirements for membership are de-
termined by the members as set forth in the by-laws.
Usually they specify that a member must be a producer
of agricultural products and purchase a share of common
stock or pay a membership fee. The association may
require a member to execute a marketing contract bind-
ing the member to handle all or any specified part of
certain agricultural products through the association.
 14. Q. HOW MUCH STOCK MAY ONE MEMBER
 OWN?
 A. The Florida law states. "No stockholder of an
association organized under this chapter (meaning Chap-
ter 618, Florida Statutes 1941), except an association
organized under this chapter or an association as de-
fined in this chapter, shall own more than one-third of
the outstanding common stock of the association." Of
course, an association organized under the laws of
Florida may further limit in its charter or by-laws the
amount of the common voting stock which each member
may own. In Florida, ownership of preferred or non-
voting stock is not limited by the law itself.
 15. Q. DO STOCKHOLDERS VOTE ACCORDING
 TO THE SHARES OF STOCK OWNED?