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Current as of January 02, 2025 | Updated by Findlaw Staff
(a) CMA's must be owned and controlled by active members of the CMA.
(b) The CMA must provide evidence that:
(1) Active members own more than 50 percent of its allocated equity; and
(2) A majority of directors are active members of the CMA or authorized representatives of active members.
(c) An applicant cooperative or a CMA, not under the ownership or control, of its active members, may be approved by CCC if it is able to establish that, by retiring the equity of its inactive members or by obtaining new members, it can vest ownership and control in its active members, as required by this section, by a date specified by CCC.
Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.1425.8 Ownership and control - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-1425-8/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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