§ 1207. Distribution of assets in winding up mutual benefit enterprise
§ 1207. Distribution of assets in winding up mutual benefit enterprise (a) In winding up a mutual benefit enterprise’s business, the enterprise shall apply its assets to discharge its obligations to creditors, including members that are creditors. The enterprise shall apply any remaining assets to pay in money the net amount distributable to members in […]
§ 1208. Known claims against dissolved mutual benefit enterprise
§ 1208. Known claims against dissolved mutual benefit enterprise (a) Subject to subsection (d) of this section, a dissolved mutual benefit enterprise may dispose of the known claims against it by following the procedure in subsections (b) and (c) of this section. (b) A dissolved mutual benefit enterprise shall notify its known claimants of the […]
§ 1209. Other claims against dissolved mutual benefit enterprise
§ 1209. Other claims against dissolved mutual benefit enterprise (a) A dissolved mutual benefit enterprise may publish notice of its dissolution and request persons having claims against the enterprise to present them in accordance with the notice. (b) A notice under subsection (a) of this section shall: (1) be published at least once in a […]
§ 1210. Court proceeding
§ 1210. Court proceeding (a) Upon application by a dissolved mutual benefit enterprise that has published a notice under section 1209 of this title, the Superior Court in the county where the enterprise’s principal office is located or, if the enterprise does not have a principal office in this State where its designated office in […]