(a) As used in this subchapter: (1) 'Agricultural products' means horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and farm and ranch products;(2) 'Association' means any corporation organized under this subchapter;(3) 'Member' means actual members of associations without capital stock and holders of common stock in associations organized with capital stock; and(4) 'Person' means individuals, firms, partnerships, corporations, and associations.(b) Associations organized under this subchapter shall be deemed nonprofit, inasmuch as they are not organized to make profits for themselves as such, or for their members as such, but only for their members as producers.Acts 1921, No. 116, § 2; Pope's Dig., § 2287; A.S.A. 1947, § 77-902.
Arkansas Legal Code