Section 10.6. Multiple interests restricted.

  1.  A person who holds an interest in a networking farmers limited liability company holding an interest in agricultural land pursuant to section 10.5 shall not hold an interest in another farmers entity, if any of the following applies:

  a.  The person holds a twenty-five percent or greater interest in a networking farmers limited liability company having six or fewer members.

  b.  The person holds a fifteen percent or greater interest in a networking farmers limited liability company having seven or more members.

  2.  A person who holds a majority interest in an authorized entity shall not hold a majority interest in a networking farmers limited liability company.

  3.  A qualified commodity share landlord who owns an interest in a networking farmers limited liability company holding agricultural land under section 10.5 must rent an additional one hundred fifty acres of agricultural land on a commodity share basis for each farmers entity holding agricultural land under this chapter in which the commodity share landlord acquires an interest.

98 Acts, ch 1110, §106, 301