1. (a) A cooperative that has not begun doing business may be dissolved by filing articles of dissolution for record with the Department.
2. (b) The articles of dissolution shall be signed and acknowledged for the cooperative by a majority of the incorporators of the cooperative.

3. (c) The articles of dissolution shall contain:

   1. (1) The name of the cooperative and the address of its principal office; and

   2. (2) A statement that:

      1. (i) The cooperative has not begun doing business;
      2. (ii) Any money received by the cooperative, less any disbursements for expenses of the cooperative, has been returned or paid to the persons entitled to the money;
      3. (iii) All debts of the cooperative have been paid; and
      4. (iv) A majority of the incorporators of the cooperative elect that the cooperative be dissolved.

Added by Acts 2002, c. 135, § 3, eff. Oct. 1, 2002.