(a) Except as otherwise provided in §§ 171203 and 171215, a limited cooperative association is dissolved and its activities must be wound up: (1) upon the occurrence of an event or at a time specified in the articles of organization; (2) upon the action of the association’s organizers, board of directors, or members under § 171204 or 171205; or (3) ninety (90) calendar days after the dissociation of a member, which results in the association having one (1) patron member and no other members, unless the association, no later than the end of the ninety (90)-day period, admits at least one (1) member in accordance with the organic rules and has at least two (2) members, at least one (1) of which is a patron member.
COL 2025-04-22