(a) As used in this chapter, unless the context otherwise requires:

Terms Used In Tennessee Code 43-16-103

  • Association: means any corporation organized under this chapter. See Tennessee Code 43-16-103
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • farm products: means forage and sod crops. See Tennessee Code 1-3-105
  • Livestock: means all equine as well as animals that are being raised primarily for use as food or fiber for human utilization or consumption including, but not limited to, cattle, sheep, swine, goats, and poultry. See Tennessee Code 1-3-105
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(1) “Agricultural products” includes horticultural, viticultural, forestry, dairy, livestock, poultry, bee and any farm products;
(2) “Association” means any corporation organized under this chapter;
(3) “Member” includes actual members of associations without capital stock, and holders of common stock in associations organized with capital stock; and
(4) “Person” includes an individual, firm, partnership, corporation, and association.
(b) An association organized under this chapter shall be deemed “nonprofit,” inasmuch as it is not organized to make profit for itself, as such, or for its members, as such, but only for its members as producers.
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