From WebRef.orgJump to navigationJump to search
- P.L. 67-146 (February 18, 1922), with a bit of exaggeration, is sometimes called the Magna Carta of Cooperation. The law was passed in response to challenges made against cooperatives using the Sherman Antitrust Act, the Clayton Antitrust Act, and the Federal Trade Commission Act. It gave "associations" of persons producing agricultural products certain exemptions from antitrust laws. The law carries the names of its sponsors, Senator Arthur Capper of Kansas and Congressman Andrew Volstead of Minnesota.
- After the Clayton Antitrust Act was passed, farmer cooperatives were declared to be in violation of the antitrust laws. The Capper-Volstead Act was passed to exempt farmers from the antitrust legislation.