A cooperative that has not commenced business may be dissolved by delivering articles of dissolution to the commissioner. A majority of the incorporators shall execute and acknowledge articles of dissolution on behalf of the cooperative. The articles must state
(1) the name of the cooperative;
(2) the address of its principal office;
(3) that the cooperative has not commenced business;
(4) that sums received by the cooperative, less that part disbursed for expenses of the cooperative, have been returned or paid to those entitled to them;
(5) that no debt of the cooperative is unpaid;
(6) that a majority of the incorporators elect to dissolve the cooperative.
Section: 10.25.310 10.25.320 10.25.330 10.25.340 10.25.350 10.25.360 NextLast modified: November 15, 2016