§ 2-2-201 — Membership

(a) A person, firm, or corporation shall become a member of a cotton cooperative association organized and domesticated under the laws of the State of Arkansas only when the membership contract shall be in duplicate and shall state the time of the duration of each contract signed both by the member and the association. (b) The signature of any person on a draft or check containing conditions which purport to make a person a member of a cotton cooperative association as a prerequisite to obtaining money on any draft or check given to him or her for any cotton which he or she has sold or pledged to any cotton cooperative association shall not be construed as making the person a member of the association, even though he or she has signed or endorsed the check or draft.

Legislative History

Acts 1939, No. 12, § 1; 1939, No. 202, § 1; A.S.A. 1947, § 77-1026.