33-4-506. Members -- minimum membership. (1) A person may not become a member of a farm mutual insurer except by insuring property owned by the person insurable under this chapter.

(2) The membership of an insurer consists of the persons lawfully insuring in the insurer.

(3) The total membership of the insurer must at all times be not less than the number of persons required by 33-4-201 to incorporate an insurer.