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2-1604. Membership. No board of trade shall exclude from, or refuse membership therein, nor deny any of the privileges thereof to any duly authorized representative of any lawfully formed and conducted co-operative association of producers, having adequate financial responsibility, which is engaged in cash grain business if such co-operative association has complied with such terms and conditions as are, or may be, imposed lawfully on other members of such board: Provided, That no rule of a board of trade or contract market shall forbid or be construed to forbid the return on any patronage basis by such co-operative association to bona fide members, of moneys collected or made in excess of the expense of conducting the business of such association.

History: L. 1925, ch. 6, ยง 4; Feb. 23.

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