Additional information for qualification as family or authorized farm corporation.

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47-9A-17. 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:

(1)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;

(2)The name, address, and number of shares owned by each shareholder; and

(3)A statement as to percentage of gross receipts of the corporation derived from rent, royalties, dividends, interest, and annuities.

Source: SL 1974, ch 294, §5.


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