200. To be a member of an agricultural cooperative, a person or partnership must
(1) be an agricultural producer;
(2) apply for membership except in the case of a founder;
(3) subscribe and pay for the required qualifying shares in accordance with the by-laws;
(4) undertake to observe the by-laws of the cooperative;
(5) be admitted by the board of directors, except in the case of a founder.
In the case of a cooperative whose objects are connected with marketing, the person or partnership must also undertake to deliver goods or sell goods or services through the cooperative for one year or for a longer period determined under paragraph 2 of section 205.
1982, c. 26, s. 200; 1995, c. 67, s. 123.