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Section 30-27-128 - WINDING UP AND TERMINATION.

ID Code § 30-27-128 (2019) (N/A)
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30-27-128. WINDING UP AND TERMINATION. Winding up and termination of an unincorporated nonprofit association must proceed in accordance with the following rules:

(1) All known debts and liabilities must be paid or adequately provided for.

(2) Any property subject to a condition requiring return to the person designated by the donor must be transferred to that person.

(3) Any property subject to a trust must be distributed in accordance with the trust agreement.

(4) Any remaining property must be distributed as follows:

(A) As required by law other than this chapter that requires assets of an association to be distributed to another person with similar nonprofit purposes;

(B) In accordance with the association’s governing principles or in the absence of applicable governing principles, to the members of the association per capita or as the members direct; or

(C) If neither paragraph (A) nor (B) of this subsection apply, as provided in chapter 5, title 14, Idaho Code.

History:

[30-27-128, added 2015, ch. 243, sec. 53, p. 900.]

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Section 30-27-127 - DISSOLUTION.
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Section 30-27-129 - APPOINTMENT OF REGISTERED AGENT.