§ 1220.114 - National nonprofit producer-governed organization.

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The term national nonprofit producer-governed organization means an organization that—

Is a nonprofit organization pursuant to section 501(c) (3), (5) or (6) of the Internal Revenue Code (26 U.S.C. 501(c) (3), (5) and (6)); and

Is governed by a Board of directors of agricultural producers representing soybean producers on a national basis;