An association may be organized for the purpose of engaging in any cooperative activity for producers of agricultural products in connection with:
(1) Producing, assembling, marketing, buying or selling agricultural products or harvesting, preserving, drying, processing, manufacturing, blending, canning, packing, ginning, grading, storing, warehousing, handling, shipping, or utilizing the products, or manufacturing or marketing the byproducts, thereof; provided seventy-five per cent of such agricultural products shall be of Hawaiian origin;(2) Manufacturing, buying for or supplying to its members machinery, equipment, feed, fertilizer, fuel, seeds, and other agricultural supplies;(3) Performing or furnishing business or educational services, on a cooperative basis, or to its members;(4) Financing any of the above enumerated activities for its members.L 1949, c 234, pt of §1; am L 1953, c 137, §1(a); RL 1955, § 176-4; HRS § 421-2; am L 1972, c 103, §1