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Thursday, May 23, 2024 | Back issues
Courthouse News Service Courthouse News Service

Tobacco farmers

RICHMOND, Va. — The Fourth Circuit denied U.S. Tobacco Cooperative members’ request for a judicial dissolution of the group of flue-cured tobacco farmers in North Carolina. The members, who seek both the cooperative’s dissolution and a distribution of its reserves obtained from member fees and tobacco sales, claimed the cooperative is no longer able to carry out its purposes. However, that is not a ground for dissolution under the Business Corporation Act, the appeals court ruled.

Read the opinion here.

Categories / Appeals, Briefs, Business

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