Associations or corporations organized under the laws of any other state, the purposes of which coincide with the purposes of associations incorporated under this chapter, shall be allowed to carry on any proper activities, operations, and functions in this State, upon compliance with the legal requirements applicable to foreign corporations desiring to do business in this State, with power to make any and all contracts which can be made by any association incorporated under this chapter. Such contracts shall be legal and valid and enforceable in this State with the same force and effect as if the corporation were organized under this chapter. Such associations or corporations shall be entitled to all of the rights, exemptions, remedies and protection available for cooperative agricultural associations formed under the provisions set forth in this chapter, with the same force and effect as if such association or corporation were organized under this chapter. Any such association or corporation shall be treated as organized under this chapter with regard to the prohibition and penalty provisions set forth in this chapter.