Sec. 9. (a) A corporation incorporated under this chapter shall annually offer and present cash awards for the improvement of soils, tillage, crops, manures, improvement of stock, articles of domestic industry, and other articles, productions, and improvements the corporation considers proper. The awards must be provided in different amounts and grades so that large and small manufacturers and farmers have an opportunity to compete for the awards.

     (b) A corporation incorporated under this chapter may perform any acts the corporation considers best to promote the agricultural and household manufacturing interests of the county and of the states whose residents have organized the corporation.

     (c) When a corporation organized under this chapter makes its awards, special attention must be given to the profits that may or are likely to accrue from:

(1) the improved method of raising the crop;

(2) improving the soil or stock; or

(3) the fabrication of the articles offered;

with the intention that the award be given for the most economical method of improvement.

     (d) Before an award is made under this section, a person competing for a cash award for improved:

(1) tillage methods;

(2) manufacturing methods; or

(3) production of any crop or other articles;

must deliver to the awarding committee a full and correct statement of the process of the tillage method, manufacturing method, or production. The statement must show the expense and value of the process to show accurately the profits derived or expected to be derived.

[Pre-2008 Recodification Citation: 15-1-2-8.]

As added by P.L.2-2008, SEC.5.