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N.C. Gen. Stat. § 54-145

Members

Applied in 2 court decisions — leading case Sharp Farms v. Speaks (2019)

Most recently applied in Teresa Speaks v. U. S. Tobacco Cooperative Inc. (February 2019)

1921, c. 87, s. 7; C.S., s. 5259(r); 1963, c. 1168, s. 10.

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

(b) If a member of a nonstock association be other than a natural person, such member may be represented by any individual, associate, officer, or member thereof, duly authorized in writing.

(c) One association organized hereunder may become a member or stockholder of any other association or associations, organized hereunder.

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.