Purpose
Applied in 1 court decision — leading case Two Bros. Farm, Inc. v. Riceland Foods, Inc. (1997)
Most recently applied in Two Bros. Farm, Inc. v. Riceland Foods, Inc. (April 1997)
Acts 1939, No. 153, § 1; A.S.A. 1947, § 77-1001.
(1) The purposes of this subchapter are to provide for: The formation and operation of agricultural cooperative associations; and
(2) The rights, powers, liabilities, and duties of cooperative associations.
(3) Associations organized under this subchapter shall be deemed to be nonprofit, inasmuch as they are not organized for the purpose of making profits for themselves or for their members as proprietors, but only for their members as patrons and employees of the associations.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.