79-19-5 - Who may organize.
§ 79-19-5. Who may organize.
Twenty (20) or more persons, a majority of whom are residents of this state, engaged in the production of agricultural products may form a nonprofit, cooperative association, with or without capital stock, under the provisions of this chapter; provided, however, that for the formation of cooperative associations for growing, breeding, selling, and handling live stock or poultry, five (5) or more persons may form a cooperative association.
Sources: Codes, 1930, § 4101; 1942, § 4496; Laws, 1922, ch. 179; Laws, 1930, ch. 10.