Section 10.12. Multiple interests restricted — penalties.

Latest version.

  1.  A civil penalty of not more than one thousand dollars may be imposed on a person who becomes one of the following:
  a.  A stockholder of a networking farmers corporation as prohibited in section 10.4.
  b.  A member of a networking farmers limited liability company as prohibited in section 10.6.
  c.  A member of a farmers cooperative association as prohibited in section 10.8.
  2.  The person violating the section shall divest the interest held by the person in a farmers entity or authorized entity as is necessary to comply with this chapter, as provided in section 10.13.
98 Acts, ch 1110, §112, 301

                    
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