Who may organize

Five (5) or more persons, a majority of whom are residents of this state, engaged in the production of sheep, may form a nonprofit cooperative protective association, without capital stock under this chapter. Acts 1939, ch. 184, § 3; C. Supp. 1950, § 3830.4 (Williams, §3830.5); T.C.A. (orig. ed.), § 44-2103. Five (5) or more persons, a majority of whom are residents of this state, engaged in the production of sheep, may form a nonprofit cooperative protective association, without capital stock under this chapter. Acts 1939, ch. 184, § 3; C. Supp. 1950, § 3830.4 (Williams, §3830.5); T.C.A. (orig. ed.), § 44-2103.