Section 47-16-1 - Classes of members--Provisions in bylaws.
47-16-1. Classes of members--Provisions in bylaws. A cooperative may have one or more classes of members. Provisions for qualifications, requirements, method of acceptance, terms, conditions, termination, and other incidents of membership shall be set forth in the bylaws. Any person, including a partnership, a firm, an unincorporated association, a cooperative, a corporation, or a body politic, may become a member in accordance with the bylaws.
Source: SDC 1939, § 11.1113 as enacted by SL 1965, ch 23, § 1.