501.804 Revocation of dissolution.
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/ia/chapter-501-closed-cooperatives/501-804A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. A cooperative may revoke its dissolution within one hundred twenty days of the effective date of the dissolution.
2. Revocation of dissolution must be authorized in the same manner as the dissolution was authorized unless that authorization permitted revocation by action of the board of directors alone, in which event the board of directors may revoke the dissolution without member action.
3. After the revocation of dissolution is authorized, the cooperative may revoke the dissolution by delivering to the secretary of state for filing articles of revocation of dissolution, together with a copy of its articles of dissolution, that set forth all of the following:
a. The name of the cooperative.
b. The effective date of the dissolution that was revoked.
c. The date that the revocation of dissolution was authorized.
d. If the cooperative’s board of directors or organizers revoked the dissolution, a statement to that effect.
e. If the cooperative’s board of directors revoked a dissolution authorized by the members, a statement that revocation was permitted by action by the board of directors alone pursuant to that authorization.
f. If member action was required to revoke the dissolution, the information required by section 501.803, subsection 1, paragraph “c”.
4. Revocation of dissolution is effective upon the effective date of the articles of revocation of dissolution.
5. When the revocation of dissolution is effective, it relates back to and takes effect as of the effective date of the dissolution as if the dissolution had never occurred.
98 Acts, ch 1152, §54, 69
Referred to in §9.11