47-18-16.3. Administrative dissolution of cooperative.
126 words·~1 min read·
/sd/title-47/chapter-47-18/47-18-16-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The secretary of state may commence a proceeding under § 47-18-16.4 to administratively dissolve a cooperative if:
(1)The cooperative does not pay within sixty days after they are due any fees or penalties imposed by chapters 47-15 to 47-20 , inclusive, or other law;
(2)The cooperative does not deliver its annual report to the secretary of state within sixty days after it is due;
(3)The cooperative is without a registered agent or registered office in this state for sixty days or more;
(4)The cooperative does not notify the secretary of state within sixty days that its registered agent has been changed or that its registered agent has resigned; or
(5)The cooperative's period of duration stated in its articles of incorporation expires.