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