Nonprofit cooperative association - Persons entitled to form

Eleven (11) or more persons, a majority of whom are residents of this state, engaged in the production of agricultural products, may form a nonprofit, cooperative association, with or without capital stock, under this chapter. Acts 1923, ch. 100, § 3; Shan. Supp., § 2534a28; Code 1932, §3786; T.C.A. (orig. ed.), § 43-1804. Eleven (11) or more persons, a majority of whom are residents of this state, engaged in the production of agricultural products, may form a nonprofit, cooperative association, with or without capital stock, under this chapter. Acts 1923, ch. 100, § 3; Shan. Supp., § 2534a28; Code 1932, §3786; T.C.A. (orig. ed.), § 43-1804.