2016 Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 17 - Farmers' Credit Associations
§ 81-17-5. Definitions

MS Code § 81-17-5 (2016) What's This?

The terms used in this chapter, in addition to their common use and meaning are also defined as follows:

(a) The term "agricultural products" shall include horticultural, viticultural, dairy, live stock, poultry, bee, fowl, and any other farm products;

(b) The term "member" shall include actual members of associations without capital stock, and holders of common stock in associations organized with capital stock;

(c) The term "association" means any association organized under this chapter; and,

(d) The term "person" shall include individuals, firms, partnerships, corporations, and associations.

Associations organized hereunder shall be deemed nonprofit, inasmuch as they are not organized to make profits for themselves, as such, or for their members, as such, but only for their members as producers.

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