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Ark. Code Ann. § 4-30-101

Definition

Acts 1921, No. 632, § 2; Pope's Dig., § 2263; A.S.A. 1947, § 64-1503.

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; and

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

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.