111 - Definitions.

§  111.  Definitions.  For  the purposes of this article: (a) the term  "agricultural  cooperative"  means  a  cooperative,  either   stock   or  non-stock,  operated  for the mutual benefit of the members in which (1)  no member is allowed more than one vote because of the amount  of  stock  or membership capital he or she may own therein, and (2) the cooperative  does  not  pay  dividends  on  stock  or membership capital in excess of  twelve per centum per annum, and (3) the cooperative does  not  deal  in  farm products, agricultural waste products or agricultural compost, farm  supplies,  farm  business  services and the capture of methane and other  gases for the generation and use  or  sale  of  energy,  as  defined  in  section  1-103  of  the  energy law with or for non-members in an amount  greater in value than the total amount of such business transacted by it  with or for members.    Only persons engaged in the production of  agricultural  products,  or  cooperative  corporations  of such producers organized under the laws of  this or any other  state,  shall  be  eligible  for  membership  in  any  agricultural  marketing  or  purchasing  corporation  formed or operated  under the provisions of  this  article.  The  terms  and  conditions  of  membership  shall  be  prescribed in the by-laws. The board of directors  shall be chosen at the time  and  place  and  for  terms  fixed  by  the  by-laws,  but  at  least  one-fourth  of  the  directors must be elected  annually.    The by-laws may provide for their amendment by the board of directors;  but any amendment adopted by the board which  affects  the  preferential  rights  or  obligations of the members or stockholders shall be reported  to the next annual meeting of the corporation, and if not  affirmatively  approved  thereat  shall cease to be in effect. Such by-laws reported to  the  annual  meeting  may  be  adopted,  repealed  or  amended  on   the  affirmative vote of two-thirds of the members, stockholders or delegates  voting  thereon at a meeting held after due written notice setting forth  the proposed action and the purpose of the meeting.    (b)  The  term  "agricultural  products"  shall  mean   horticultural,  viticultural,   dairy,  livestock,  poultry,  bee  and  any  other  farm  products.    (c) The terms "feed", "food", and "food products" mean any  substance,  capable  of  human, animal or poultry consumption, whether simple, mixed  or compound, and all substances or ingredients added to  food  for  such  purpose.    (d)  The term "agricultural waste products" means livestock manure and  crop residues.    (e) The  term  "agricultural  compost"  means  organic  waste  derived  principally  from  farm  operations  and  which  has  been  subjected to  aerobic, thermophilic decomposition  to  produce  a  stable,  humus-like  material.