REINSTATEMENT FOLLOWING ADMINISTRATIVE DISSOLUTION.
(a) A limited cooperative association that has been dissolved administratively may apply to the Secretary of State for reinstatement not later than two (2) years after the effective date of dissolution. The application must be delivered to the Secretary of State for filing and state:
(1) The name of the association and the effective date of its administrative dissolution;
(2) That the grounds for dissolution either did not exist or have been eliminated; and
(3) That the association’s name satisfies the requirements of Section 11 of this act.
(b) If the Secretary of State determines that an application contains the information required by subsection (a) of this section and that the information is correct, the Secretary of State shall:
(1) Prepare a declaration of reinstatement;
(2) File the original of the declaration; and
(3) Serve a copy of the declaration on the association.
(c) When reinstatement under this section becomes effective, it relates back to and takes effect as of the effective date of the administrative dissolution, and the limited cooperative association may resume or continue its activities as if the administrative dissolution had not occurred.
Added by Laws 2009, c. 68, § 113, eff. Jan. 1, 2010.
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