2011 Iowa Code
TITLE XII BUSINESS ENTITIES
SUBTITLE 3 ASSOCIATIONS
CHAPTER 501 CLOSED COOPERATIVES
501.806 Distribution of assets.
501.806 Distribution of assets.
Upon the cooperative s dissolution, the cooperative s assets shall first be used to pay expenses necessary to carry out the dissolution and liquidation of assets, then be used to pay the cooperative s obligations other than the payment of deferred patronage or interests issued as deferred patronage, and the remainder shall be paid in the manner set forth in the cooperative s articles of association.
98 Acts, ch 1152, §56, 69
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