Ark. Code § 4-30-101

Current with legislation from 2024 Fiscal and Special Sessions.

Section 4-30-101 - 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.

Ark. Code § 4-30-101

Acts 1921, No. 632, § 2; Pope's Dig., § 2263; A.S.A. 1947, § 64-1503.