MEMBER APPROVAL OF OTHER DISPOSITION OF ASSETS. A sale, lease, exchange, license, or other disposition of assets of a limited cooperative association, other than a disposition described in Section 130 of this act, requires approval of the association’s members under Sections 132 and 133 of this act if the disposition leaves the association without significant continuing business activity.
Added by Laws 2009, c. 68, § 131, eff. Jan. 1, 2010.
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