501.803 Articles of dissolution.
128 words·~1 min read·
/ia/chapter-501-closed-cooperatives/501-803A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. At any time after dissolution is authorized, the cooperative may dissolve by delivering to the secretary of state for filing articles of dissolution setting forth all of the following:
a. The name of the cooperative.
b. The date dissolution was authorized.
c. If dissolution was approved by the members, both of the following:
(1)The number of votes entitled to be cast on the proposal to dissolve.
(2)Either the total number of votes cast for and against dissolution or the total number of undisputed votes cast for dissolution and a statement that the number cast for dissolution was sufficient for approval.
2. A cooperative is dissolved upon the effective date of its articles of dissolution.
98 Acts, ch 1152, §53, 69
Referred to in §9.11, 501.804