Section 301-A:2 Incorporation Under General Law.
I. Five or more persons, a majority of whom are residents of this state, may form a nonprofit cooperative association with or without capital stock under the provisions of this chapter.
II. An association may be incorporated on a cooperative, nonprofit basis for the purpose of acquiring, producing, building, operating, manufacturing, furnishing, exchanging, or distributing any type or types of property, commodities, goods, or services primarily for the benefit of its members who are ultimate consumers.
Source. 1983, 462:1, eff. July 1, 1983.