§ 2-2-407 - Members. - Arkansas Statutes

2-2-407. Members.

(a) Under the terms and conditions prescribed in its bylaws, an association may admit as members, or issue common stock only to, 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 for the production of agricultural products and any lessors and landlords who receive as rent part of the crop raised on the leased premises.

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

(c) An association organized under this subchapter may become a member or stockholder of any other association organized under this subchapter.