§521 Fishing Industry; Associations Authorized; “aquatic Products” Defined; Marketing Agencies; Requirements

Summary

People who work in the fishing business—fishermen, those who gather or grow aquatic products, or who plant them on public or private beds—may join together in groups or companies to catch, produce, prepare, process, handle, and sell their products across state lines and to other countries. These groups can share marketing agencies and make the contracts they need to do that work. Aquatic products means all commercial animals and plants from fresh or salt water in U.S. states, the District of Columbia, territories, and possessions. Groups must run for the members’ benefit and follow one of two rules: either every member gets only one vote no matter how much stock they have, or the group limits dividends on stock or membership capital to no more than 8 percent per year. The group also must not sell or handle nonmembers’ products in value more than what it handles for its members.