Statutes, codes, and regulations
District of Columbia Official Code
Division V - LOCAL BUSINESS AFFAIRSTitle 29 - BUSINESS ORGANIZATIONSChapter 10 - LIMITED COOPERATIVE ASSOCIATIONS
Subchapter XIV - DISPOSITION OF ASSETS
Section 29-1014.01 - Disposition of assets not requiring member approval

D.C. Code § 29-1014.01

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Current through codified legislation effective October 30, 2024
Section 29-1014.01 - Disposition of assets not requiring member approval

Unless the articles of organization otherwise provide, member approval under § 29-1014.02 shall not be required for a limited cooperative association to:

(1) Sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the association in the usual and regular course of business; or
(2) Mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any way all or any part of the assets of the association whether or not in the usual and regular course of business.

D.C. Code § 29-1014.01

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

Uniform Law: This section is based on § ,1501 of the Uniform Limited Cooperative Association Act.