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2022 New Jersey Revised Statutes
Title 48 - Public Utilities
Section 48:24-18 - Dissolution.
Universal Citation: NJ Rev Stat § 48:24-18 (2022)
48:24-18 Dissolution.
18. A rural electric cooperative may dissolve only when authorized by the affirmative vote of two-thirds of all the members of the cooperative. Any assets remaining after all liabilities or obligations of the cooperative have been satisfied or discharged upon dissolution shall be distributed pro rata among the members of the cooperative at the time of the filing of the certificate of dissolution in accordance with the cooperative's bylaws.
L.2017, c.297, s.18.
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