§ 4-30-101 - Definition. - Arkansas Statutes

4-30-101. Definition.

As used in this chapter, unless the context otherwise requires, the "cooperative plan" shall be construed to mean a business concern that distributes the net profits of its business by:

(1) The payment of a fixed dividend upon its stock;

(2) The remainder prorated to its several stockholders upon their purchases from or sales to the concern or both such purchases and sales.