§ 2-2-107 - Members. - Arkansas Statutes

2-2-107. Members.

(a) (1) Under the terms and conditions prescribed in its bylaws, an association formed under this subchapter may admit any persons as members who are engaged in the production of agricultural commodities, including the lessees and tenants of lands used for production of agricultural commodities and lessors and landlords who receive as rent all or part of the crops raised on the leased premises, and issue certificates of common stock or membership to them.

(2) Certificates of stock or membership shall not be transferable except as provided in the articles of association or the bylaws. No person shall otherwise acquire, by operation of law or otherwise, the benefits of membership except as provided in this subchapter.

(b) If a member of any association organized under this subchapter is other than a natural person, the member may be represented by any individual, associate, officer, manager, or member thereof, duly authorized in writing.