Minnesota § 308A.901 LIQUIDATION

Minnesota Statutes

§ 308A.901 — LIQUIDATION

Minnesota § 308A.901

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 308ACOOPERATIVE LAW

This text of Minnesota § 308A.901 (LIQUIDATION) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 308A.901 (2026).

Text

Subdivision 1.Members may authorize liquidation. If a liquidation is authorized by the members, the board may dispose of all or substantially all of the property of the cooperative on terms and conditions determined by the board. Subd. 2.Resolution at members' meeting. The members may authorize a liquidation by adopting a resolution at a members' meeting. The notice of the members' meeting must include a statement that the disposition of the property of the cooperative will be considered at the meeting. If a quorum is present in person or by mail ballot at the members' meeting, the resolution approving of the liquidation is adopted if:

(1)approved by two-thirds of the votes cast; or

(2)for a cooperative with articles or bylaws requiring more than two-thirds for approval or other condit

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Subdivision 1.Members may authorize liquidation.
If a liquidation is authorized by the members, the board may dispose of all or substantially all of the property of the cooperative on terms and conditions determined by the board.

Subd. 2.Resolution at members' meeting.
The members may authorize a liquidation by adopting a resolution at a members' meeting. The notice of the members' meeting must include a statement that the disposition of the property of the cooperative will be considered at the meeting. If a quorum is present in person or by mail ballot at the members' meeting, the resolution approving of the liquidation is adopted if:
(1) approved by two-thirds of the votes cast; or
(2) for a cooperative with articles or bylaws requiring more than two-thirds for approval or other conditions for approval, the resolution is approved by the proportion of the votes cast or a number of total members as required by the articles or bylaws and the conditions for approval in the articles or bylaws have been satisfied.