Three or more natural persons, a majority of whom are residents of this state, who are engaged in the production of any product, may form an association pursuant to this chapter for the purpose of engaging in any activity in connection with any of the following:
(a) The production, marketing, or selling of the products of its members.
(b) The harvesting, preserving, drying, processing, canning, packing, grading, storing, handling, shipping, or utilization of any product of its members, or the manufacturing or making of the byproducts of any product of its members.
(c) The manufacturing, selling, or supplying to its members of machinery, equipment or supplies.
(d) The financing of the activities which are specified by this section.
(e) Any one or more of the activities which are specified in this section.
(Enacted by Stats. 1967, Ch. 15.)