CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS
COOPERATIVE MARKETING AND RURAL ELECTRIFICATION ASSOCIATIONS
Under the terms and conditions prescribed in its bylaws, an association may admit as members, or issue common stock to, only cooperative marketing associations or persons engaged in the production of the agricultural products to be handled by or through the association, including the lessees and tenants of land used therefor and any lessors and landlords who receive any part of the agricultural products produced on the leased premises or of the sale price of such products as rent, or persons engaged in the production of agricultural products who purchase or hire from such association supplies, machinery or equipment for use in connection with the production or marketing of agricultural products.
Source. 1925, 33:5. PL 224:7. 1933, 73:2. RL 273:7.