Public-domain · open source
OpenJurist

D.C. Code § 29-1014.01

Disposition of assets not requiring member approval

Known as the Uniform Limited Cooperative Association Act

The act spans §§ 29–29 (119 sections).

July 2, 2011, D.C

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.

Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.