§ 43-38-1022. Court Order Dissolving Cooperative
In an involuntary or supervised voluntary dissolution, after the costs and expenses of the proceedings and all debts, obligations and liabilities of the cooperative have been paid or discharged and the remaining property and assets have been distributed to its members, or if its property and assets are not sufficient to satisfy and discharge the […]
§ 43-38-1023. Certified Copy of Dissolution
After the court enters an order dissolving a cooperative, the court administrator shall cause a certified copy of the dissolution order to be filed with the secretary of state. The secretary of state may not charge a fee for filing the dissolution order.
§ 43-38-1024. Liquidation
A cooperative shall be dissolved as provided in the articles in a manner consistent with other business entities organized in this state, or if not provided, may be dissolved in the same manner as a limited liability company organized in this state; or the members may authorize a liquidation by adopting a resolution at a […]
§ 43-38-1025. Right to Sue or Defend After Dissolution
After a cooperative has been dissolved, any of its former officers, directors or members may assert or defend, in the name of the cooperative, a claim by or against the cooperative.
§ 43-38-1026. Equitable Relief — Dissolution and Liquidation
A court may grant equitable relief that it deems just and reasonable in the circumstances or may dissolve a cooperative and liquidate its assets and business: In a supervised voluntary dissolution that is applied for by the cooperative; In an action by a member when it is established that: The directors or the persons having […]
§ 43-38-1027. Claims Procedure
A person who is or who becomes a creditor or claimant before, during, or following the conclusion of dissolution proceedings, who does not file a claim or pursue a remedy in a legal, administrative or arbitration proceeding during the pendency of the dissolution proceeding, or has not initiated a legal, administrative, or arbitration proceeding before […]
§ 43-38-1101. Filing Requirements
The form and filing of a document must satisfy the requirements of this section, and of all other applicable sections or rules that add to these requirements, to be entitled to filing by the secretary of state. This chapter must require or permit filing the document in the office of the secretary of state. The […]
§ 43-38-1013. Revocation of Dissolution Proceedings
Dissolution proceedings may be revoked before the articles of dissolution are filed with the secretary of state. The chair may call a members’ meeting to consider the advisability of revoking the dissolution proceedings. The question of the proposed revocation shall be submitted to the members at the members’ meeting called to consider the revocation. The […]
§ 43-38-1014. Termination of Existence
The existence of the cooperative is terminated upon the filing of articles of termination with the secretary of state.
§ 43-38-1015. Dissolution Under the Supervision of the Court
After a notice of intent to dissolve has been filed with the secretary of state and before a certificate of dissolution has been issued, the cooperative or, for good cause shown, a member or creditor, may apply to a court within the county where the registered address is located to have the dissolution conducted or […]