2007 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 308A Cooperatives
Section 308A.971 COURT-SUPERVISED DISSOLUTION ORDER.
308A.971 COURT-SUPERVISED DISSOLUTION ORDER.
Subdivision 1. Conditions for dissolution order. In an involuntary or supervised voluntary
dissolution after the costs and expenses of the proceedings and all debts, obligations, and
liabilities of the cooperative have been paid or discharged and the remaining property and assets
have been distributed to its members or, if its property and assets are not sufficient to satisfy and
discharge the costs, expenses, debts, obligations, and liabilities, when all the property and assets
have been applied so far as they will go to their payment according to their priorities, the court
shall enter an order dissolving the cooperative.
Subd. 2. Dissolution effective on filing order. When the order dissolving the cooperative or
association has been entered, the cooperative or association is dissolved.
History: 1989 c 144 art 3 s 43
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