47-21-41. Articles of dissolution--Contents of articles.
178 words·~1 min read·
/sd/title-47/chapter-47-21/47-21-41A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board of directors shall, upon completion of the acts required by § 47-21-40 , authorize the execution of articles of dissolution, which shall be executed and acknowledged on behalf of the cooperative by its president or vice - president, and its seal shall be affixed thereto and attested by its secretary. The articles of dissolution shall recite that they are executed pursuant to this chapter and shall state:
(1)The name of the cooperative;
(2)The address of its principal office;
(3)The date on which the certificate of election to dissolve was filed by the secretary of state;
(4)That there are no actions or suits pending against the cooperative;
(5)That all debts, obligations, and liabilities of the cooperative have been paid and discharged or that adequate provision has been made therefor; and
(6)That the provisions of §§ 47-21-36 to 47-21-40 , inclusive, have been duly complied with.
The president or vice - president executing the articles of dissolution shall make and annex thereto an affidavit stating that the statements made therein are true.