D.C. Code § 29-1010.06
Current through codified legislation effective October 30, 2024
Property distributed to a member by a limited cooperative association, other than money, maybe redeemed or repurchased as provided in the organic rules, but a redemption or repurchase shall not be made without authorization by the board of directors. The board may withhold authorization for any reason in its sole discretion. A redemption or repurchase shall be treated as a distribution for purposes of § 29-1010.07.
D.C. Code § 29-1010.06
Uniform Law: This section is based on § ,1006 of the Uniform Limited Cooperative Association Act.