47-9A-17 Additional information for qualification as family or authorized farm corporation.
Additional information for qualification as family or authorized farm corporation.
The report of a corporation seeking to qualify hereunder as a family farm corporation or an
authorized farm corporation shall contain, in addition:
The number of shares owned by persons residing on the farm or actively engaged in
farming, or their relatives within the third degree of kindred;
The name, address, and number of shares owned by each shareholder; and
A statement as to percentage of gross receipts of the corporation derived from rent,
royalties, dividends, interest, and annuities.
SL 1974, ch 294, § 5.