Under the terms and conditions prescribed in the bylaws
adopted by it, a cooperative association may admit as members, or
issue common stock to, only persons engaged in the production or
cooperative marketing of the agricultural products to be handled
by or through the association, and any lessor or landlord who
receives as rent all or any part of the crop raised on the leased
premises; and under the terms and conditions prescribed in the
bylaws adopted by it, an agricultural credit association may
admit any person as a member.
If a member of a nonstock association be other than a
natural person, such member may be represented by an individual,
associate, officer or manager or member thereof, duly authorized
One association organized hereunder may become a member or
stockholder of any other association or associations organized
under this article or similar laws of any state.