37-4-2. Open membership required of exchanges--Cooperatives included.
Every market described in §37-4-1, whether heretofore or hereafter organized, shall be open to membership, with equal rights and privileges with all other members, to any person, firm, company, corporation, or association desiring to deal in or trade in the commodity or commodities usually dealt in on such market, who shall make application for membership and whose methods of business operation or plan of organization shall not conflict with or contravene any reasonable rule, regulation, or bylaw of such market.
The words "company," "corporation," or "association" herein designated shall include cooperative corporations or associations organized under the laws of the State of South Dakota.
Source: SDC 1939, §54.0802.