Jefferson Cooperative Gin, Inc. v. Milam

Carleton Harris, Chief Justice.

Appellant, Jefferson Cooperative Gin, Inc., is an agricultural cooperative organized under the provisions of Act 153 of 1939 (Chapter 10, Ark. Stat. Ann. §§ 77-1001 — 77-1025 [Repl. 1957 and Supp. 1971]). Section 77-1001 inter alia provides that associations organized under the act shall be deemed to be non-profit, not being organized for the purpose of making profits for themselves or the members, as proprietors, but only for their members, as patrons and employees of the association. Section 77-1023 provides that each association organized under the act shall…