Definition

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. 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.