Title 24 — Ecosystem Protection and Development

There is created a nonprofit corporation to be known as the Copra Fund. It shall be operated for the mutual benefit of copra producers. History: 1962, PL 7-24.

The purposes of the Copra Fund are to: (1) promote and engage in any activity in connection with the production, grading, packing, processing, storing, shipping, warehousing, handling, and marketing of copra, and in the financing of such operations; (2) purchase, sell, or deal in…

The principal place of business of the Copra Fund shall be in the village of Fagatogo. Branch offices may be located at other points in the discretion of the Board of Directors. History: 1962, PL 7-24.

The governing body of the Copra Fund shall be a Board of Directors consisting of the Director of Agriculture as chairman, the Secretary of Samoan Affairs as vice-chairman, the Director of Manpower Resources, the Director of Administrative Services, the President of the Developmen…

Four Directors shall constitute a quorum of the Board at all meetings. History: 1962, PL 7-24.

The Directors shall have the following powers and duties: (1) to conduct, manage and control the affairs and business of the Copra Fund, including the establishing of the price to be paid to producers, and to make rules and regulations for the guidance of the officers and managem…

(a) The officers of the fund shall be the chairman of the Board of Directors, a vice-chairman, a secretary, and a treasurer, together with any other administrative officers whom the Board of directors may see fit in its discretion to provide for by resolution entered upon the min…

(a) If at any time the chairman is unable to act, the vice-chairman shall take his place and perform his duties, and if the vice-chairman is unable to act, the board shall appoint a Director to do so. (b) The chairman or such vice-chairman or Director shall: (1) preside over all …

(a) It shall be the duty of the secretary to: (1) keep a record of the proceedings of the meetings of the Board of Directors: (2) receive and deposit all moneys of the Copra Fund, to be paid out only on checks drawn as provided in this chapter, and account for all receipts, disbu…

The books of the Copra Fund and such papers as may be placed on file by vote of the Board of Directors shall, at all times during business hours, be subject to the inspection of the Board or the government auditor. History: 1962, PL 7-24.

The Board of Directors has the power to establish, revise, and amend from time to time rules and regulations by which each producer shall be governed with reference to the proper handling and shipping of copra, and to secure a proper grading and standard of quality. History: 1962…

All expenses of maintaining the Copra Fund, including, among other things, rent, salaries, taxes, insurance, office and inspection expense, building reserves, marketing, and all other expenses, shall be met, insofar as possible, from the profits of sales. History: 1962, PL 7-24.

Any surplus over and above the actual expenditures and obligations of the Copra Fund may be invested, held in reserve, or used for the purchase of equipment, materials and supplies for the use or advantage of the copra producers of American Samoa. Any surplus in excess of $60,000…

The Board of Directors may, in its discretion, appoint a local manger who shall hold office at the pleasure of and on terms and conditions set by the Board of Directors. Any Director, officer, or other person may be elected as manager. The local manger shall perform such duties a…

The Copra Fund shall have the power, on affirmative vote of at least 4 Directors, to borrow money for any corporate purpose, on open account or upon any assets of the Copra Fund, or any property not yet distributed to the producers, in such amounts and upon such terms and conditi…