§ 1502.
72 words·~1 min read·
/vt/1502A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 1502. Member approval of other disposition of assets
A sale, lease, exchange, license, or other disposition of assets of a mutual benefit enterprise, other than a disposition described in section 1501 of this title, requires approval of the enterprise’s members under sections 1503 and 1504 of this title if the disposition leaves the enterprise without significant continuing business activity. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)