13.1-313 - Definitions. - Virginia Statutes

§ 13.1-313. Definitions.

As used in this Act, unless the context or subject matter requires otherwise:

(a) "Agricultural products" include livestock and livestock products,dairy products, poultry and poultry products, wine and viticultural products,seeds, nuts, ground stock, horticultural, floricultural, forestry, bee andany and all kinds of farm products.

(b) "Supplies" include any and all types of supplies, machinery andequipment used by farmers as producers or used by farmers as consumers.

(c) "Association" means a corporation organized under or adopting theprovisions of this Act, or a foreign association or corporation authorized todo business in this Commonwealth, organized under any general or special actas a cooperative association for the mutual benefit of its members and otherpatrons as farmers, and which confines its operations to purposes authorizedby this Act and restricts the return on the stock or membership capital andthe amount of its business with nonmembers to the limits placed thereon bythis Act for associations organized hereunder and which qualifies to dobusiness in this Commonwealth under this Act.

Associations shall be classified as and deemed to be nonprofit corporations,inasmuch as their primary object is not to pay dividends on invested capital,but to render service and provide means and facilities by or through whichthe producers of agricultural products may receive a reasonable and fairreturn for their products and obtain supplies and services on a cooperativenonprofit basis.

(d) "This Act" means this article, which may be cited as the "AgriculturalCooperative Association Act."

(e) "Member" includes the holder of a membership in an association withoutcapital stock and the holder of voting stock in an association organized withcapital stock.

(f) "Person" includes an individual, a partnership, a corporation and anassociation.

(g) "Patron" means a person using the marketing facilities of anassociation for the marketing of agricultural products, or a person using thepurchasing or service facilities of an association for the purchase ofsupplies or the rendering of services.

(h) "Board" means the board of directors of an association.

(i) "Commission" means the State Corporation Commission of Virginia.

(Code 1950, § 13-248; 1956, c. 428; 2010, cc. 317, 561.)