COOPERATIVE AGRICULTURE IN FLORIDA


board of directors shall find that a member has closed to be a piuducer
or that such member bas not, for a period of years, marketed
his agricultural products or purchased any supplies through the association,
or has moved out of the territory in which the association is operating,
they may suspend his rights as a member or terminate his membership
Upon termination of memhbciship in the association in any manner, all of
the rights and interests of such member in the association shall, by that
act, be canceled, and such member shill be entitled only to payment or
credit for the equitable appraised value of his property rights and inter-
ests in the association, is conclusivels determined by the board of direc-
tors No action taken hereunder shall impair the obligations or liabilities
of either party under any contract which may be terminated only as
provided therein.
 Section 3. Nonnmember patrons.-The association may transact any
authorized business with nonmembers provided that the total value of
business translated by the association with nonmembers in any fiscal year
shall not eceeed the total value of business transacted with its members
Nonmember patrons shall be treated the same as members with respect
to the distribution and allocation of income. The association shall have
the right to retain an amount of the patronage allocatuiO of a nonoeilnher
patron equal to the menmbership fee, if such patron is eligible for meinber-
ship in the association and is approved by the board of directors

 ARTICLE VIII
 Revolving Capital
 Section 1. Revoliiig-fund ecrtificates.-The assiuiation is authorized
 to issue and sell to mniihbeis and other revolving-fund certificates, of a
 charatetr elocafter described, for the purpose of iisinlg capital funds with
 which to engage in business, and in order to further tile cooperative char-
 acter of tihe association and to provide a means wmhereby its current and
 active patrons Vill finance the association thereafter. The association is
 authonzed to issue revolving-fund certificates evidencing deductions made
 pursuant to agreements and/or patrona.i dividends, wlich are, in whole
 or in pait, so paid, at tle end of each fiscal year Funds arising friin the
 issue of such certificates shall be used for creating a revolving fund for
 the purpose of building up such an amount of capital as may be delned
 necessary bh the board of directors from time to tune and for revolving
 suci capital, and such fund or funds derived from any other source shall,
 when, in the opinion of the board of directors of the association sich
 runds are not necessary for the proper financing of the operaUons of the
 association, be devoted to the refunding of tle oldest outstanding series
 of revolving-fund certificates. Such certificates may contain such other
 terms ,nd conditions not consistent herewith ;as I4n he prescribed from
 time to time by the board of directors of the association. Such certificates
 shall be issued in annual scenes, each certificate in each series upon its
 face being identified by the vcar in which it is issued, and each series
 shall be retired fully or on a pro rait basis, only at the discretion of the
 board of directors of the association, in the order of issuance by years as
 funds are available for that purpose Notwithstanding any of the foregoing
 provisions, the board of directors shall have the power, front tine to time