COOPERATIVE AGRICULTURE IN FLORIDA 127


 or mlore of llit objects herein conuinilatecd, 01 conducive to or expedient
 for the interest or benefit of thle association, and to contact aLcordingly,
 and In addition, to exerci se aid possess all powers, lights and pli vdege
 necessary or incidental to the ipurposes foi which tlie association is organ-
 wred ao to the activities in wvlucl I is engaged, and any other rights, powers,
 .ad pnvileges gianted by thie laws of this state to coioraoamons fm profit,
 except stich as are inconsistent with the c\piess provisions of tills chapter,
 andi to do any such l thing anywhere;

 (11) No association organized under this chapter, during any fiscal
 year thereof, shall deal in or handle products, machinery, equipiient, sup-
 plies or peiiorm scivices lor and on behalf of iionmnemblers to *i, amount
 gicatei in value than such as are dealt in, handled, or perfoinnd by it
 tfo and on behalf of members during the suilm penrod

 61S.OS Coripmations may inoltgage fam supplies, etc.-A mortgage,
 expected by a coopclative association, inrt coveI its stock of fain supplies,
 cd.agingg in specifies, which stock inoitgagor is permitted to ietain in its
 possession and Iell in the usual comse ot busmocss The hen of such mort
 gago shall be lost on all flum supplies sold up to the time of foicclosure,
 and shiall attach to tle fi nn supplies acqluned to replenish the stock No
 such mortgage shall be invalid as to creditors or the mortgagol because
 tle mnoltgagoi is perintted to letam possession and sell sllnb moitgaged
 iopcity in thie usual course of business, piovidcd, the mortgagol repleln-
 ishes such property from the proceeds of sale or applies such proceeds in
 payinent of the mortgage debt. In all other respects the laws relating to
 chattel iuoitgagcs shall lie applicable to such mortgages. Tie provisions
 of tins section shall not ho cunstiued as, in any wier, affecting the bulk
 sales law.

 618.09 By-laws.-Each Iassociatin col porated under this chapter
hall aidopt ilo its governneinl and management, a code of ,by-laws not
inconsistent with the poxeis giantrd by this chl.iptci. A majority vote of
a illquouni of the members or stockboldeis attending a meeting, of which
notice ot the proposed by-laws shall have been given, is sufficient to adopt
ao amcild the by-laws Each association, under its by-laws, maiy ploilde
for any or all of the following lnattcrs:

 (I) The time, place, and annncl oi f calling and conducting its meet-
ings, which meetings and miectirgs of its directors, mnay be held ethali
withll or without the state

 (2) Tile numbed of stoeiholdlrs or members constituting a quorum
 (3) The right of members or stockholders to vote by prowy or by mail
or both, and the conditions, manner, to i and eflects of sich votes,
 (-) The number of directors constiituing a quolunll.
 (5) The qualifications, compensation and duties and term of oflice of
dnectois and officers, time of their election and the imde and manner of
giving notice thereof.
 (6) PI'nalties for violations ot the by-laws.