10.12 - MULTIPLE INTERESTS RESTRICTED -- PENALTIES.
10.12 MULTIPLE INTERESTS RESTRICTED -- PENALTIES.
1. A civil penalty of not more than one thousand dollars may be
imposed on a person who becomes one of the following:
a. A stockholder of a networking farmers corporation as
prohibited in section 10.4.
b. A member of a networking farmers limited liability company
as prohibited in section 10.6.
c. A member of a farmers cooperative association as
prohibited in section 10.8.
2. The person violating the section shall divest the interest
held by the person in a farmers entity or authorized entity as is
necessary to comply with this chapter, as provided in section 10.13.
Section History: Recent Form
98 Acts, ch 1110, §112, 301