(1) Unless the articles of organization otherwise provide, member approval under section 7-58-1502 is not required for a limited cooperative association to:
(a) Sell, lease, exchange, license, or otherwise dispose of all or any part of the
assets of the association in the usual and regular course of business; or
(b) Mortgage, pledge, dedicate to the repayment of indebtedness, or otherwise encumber
in any way all or any part of the assets of the association, whether or not in the
usual and regular course of business.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.