Associations heretofore organized may adopt the of provisions of this Act.
Section 42
SEC. 42. Associations heretofore organized may adopt the of provisions of this Act.—Any corporation or association organized and existing under any previously existing law of the Philippine Islands, and engaged in growers' or producers' cooperative marketing activities, may, by a majority vote of its members or stockholders, be brought under the provisions of this Act by limiting its membership and adopting the other restrictions as provided herein: Provided, however, That all contracts heretofore made by or on behalf of such association or corporation shall not be affected by its incorporation under this Act. It shall make out in duplicate a statement signed and sworn to by its directors to the effect that the association or corporation has, by a majority vote of its members or stockholders, decided to accept the benefits and be bound by the provisions of this Act and has authorized all changes accordingly. Amendments to the articles of incorporation and the bylaws shall be made, adopted and filed accordingly so as to comply with the provisions of this Act. The filing fees shall be the same as for filing amendments to articles of incorporation and by-laws, as provided in this Act.