§ 54-145. Members. - North Carolina Statutes

Article20.

Members and Officers.

§ 54‑145.  Members.

(a)        Under the terms andconditions prescribed in its bylaws, an association may admit as members, orissue common stock, only to persons engaged in the production of agriculturalproducts, including the lessees and tenants of land used for the production ofsuch products and any lessors and landlords who receive as rent part of thecrop raised on the leased premises.

(b)        If a member of anonstock association be other than a natural person, such member may berepresented by any individual, associate, officer, or member thereof, dulyauthorized in writing.

(c)        One associationorganized hereunder may become a member or stockholder of any other associationor associations, organized hereunder. (1921, c. 87, s. 7; C.S., s.5259(r); 1963, c. 1168, s. 10.)