Uniform Limited Cooperative Association Act Law and Legal Definition

Uniform Limited Cooperative Association Act (ULCAA) is one of the uniform acts prepared and sponsored by the National Conference of Commissioners on Uniform State Laws. This act is a modern alternative for the Uniform Agricultural Cooperative Association Act. ULCAA may be correctly perceived as protecting cooperative principles within state law in ways not possible under more general organizational statutes. The original working title for this act was “Uniform Agricultural and Agricultural Related Cooperatives Act”. This was supplanted during the drafting process by “Uniform Cooperative Association Act” so as not to restrict application to agricultural associations. The final title reflects the NCCUSL recommendation that the act “is a free-standing act separate and apart from current cooperative acts and, therefore, is not a statutory replacement of other law. It is simply another statutory option under which to form an entity.” Oklahoma is an example of a state adopting this act.