(A) The commission may certify a cotton growers’ organization for the purpose of entering into agreements with the State of South Carolina, other states, and federal agencies as may be necessary to carry out the purposes of this chapter.

A cotton growers’ organization may apply to the commission for certification. In order to be eligible for certification by the commission, an organization must demonstrate to the satisfaction of the commission that:

(1) It is a nonprofit organization and may qualify as a tax exempt organization under Section 501(a) of the Internal Revenue Code of 1954 [26 USC 501(a)];

(2) Membership in the organization is open to all cotton growers in this State;

(3) The organization has only one class of members with each member entitled to only one vote;

(4) The organization’s board of directors is composed of five cotton growers from this State being appointed by the commission on recommendation of the Director, and in accordance with the grower organization’s bylaws, for a one year term. Their successors shall be elected for two year terms by the members of the approved cotton growers’ organization. The Director or his designee shall also serve on the board;

(5) All books and records of account and minutes of proceedings of the organization are available for inspection or audit by the Director or his representative at any reasonable time;

(6) Employees or agents of the growers’ organization who handle funds of the organization are adequately bonded.

(B) Upon determination by the commission that the organization meets the requirements of subsection (A), the commission must adopt a resolution certifying the organization as the official boll weevil eradication organization.

The commission may certify only one organization but may revoke the certification of the organization if at any time the organization fails to meet the requirements of this chapter.