The members of a limited liability company organized pursuant to Chapter 43 or Chapter 44 of this title or five or more persons, residents of this State, may associate themselves as a cooperative association, society, company, union, or exchange for the purpose of conducting within this State any agricultural, dairy, mercantile, mining, mechanical, or manufacturing business on the cooperative plan.

HISTORY: 1962 Code SECTION 12-803; 1952 Code SECTION 12-803; 1942 Code SECTION 8137; 1932 Code SECTION 8137; Civ. C. '22 SECTION 4331; 1915 (29) 235; 1999 Act No. 118, SECTION 3.