New Jersey Statutes
§ 48:24-18 — Dissolution.
New Jersey·Title 48 PUBLIC UTILITIES
18.A rural electric cooperative may dissolve only when authorized by the affirmative vote of two-thirds of all the members of the cooperative. Any assets remaining after all liabilities or obligations of the cooperative have been satisfied or discharged upon dissolution shall be distributed pro rata among the members of the cooperative at the time of the filing of the certificate of dissolution in accordance with the cooperative's bylaws. L.2017, c.297, s.18.
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Nearby Sections
15
§ 48:24-1
Short title.§ 48:24-10
Liability for, payment of debts.§ 48:24-11
Certificate of membership.§ 48:24-12
Board of directors.§ 48:24-13
Meetings.§ 48:24-14
Quorum.§ 48:24-15
Voting.§ 48:24-16
Operating expenses; revenues.§ 48:24-17
Merger, consolidation, division.§ 48:24-18
Dissolution.§ 48:24-19
Security of borrowed money.§ 48:24-4
Articles of incorporation.§ 48:24-6
Liberal construction.