Statutes, codes, and regulations
District of Columbia Official Code
Division V - LOCAL BUSINESS AFFAIRSTitle 29 - BUSINESS ORGANIZATIONSChapter 10 - LIMITED COOPERATIVE ASSOCIATIONS
Subchapter X - CONTRIBUTIONS, ALLOCATIONS, AND DISTRIBUTIONS
Section 29-1010.05 - Distributions

D.C. Code § 29-1010.05

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Current through codified legislation effective October 30, 2024
Section 29-1010.05 - Distributions
(a) Unless the organic rules otherwise provide and subject to § 29-1010.07, the board of directors may authorize, and the limited cooperative association may make, distributions to members.
(b) Unless the organic rules otherwise provide, distributions to members may be made in any form, including money, capital credits, allocated patronage equities, revolving fund certificates, and the limited cooperative association's own or other securities.

D.C. Code § 29-1010.05

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.

Uniform Law: This section is based on § ,1005 of the Uniform Limited Cooperative Association Act.