§ 43-38-1005 — Reinstatement following administrative dissolution

(a) A cooperative administratively dissolved under § 43-38-1004 may apply to the secretary of state for reinstatement following administrative dissolution. The application must: (1) Recite the name of the cooperative at the date of its administrative dissolution; (2) State that the ground or grounds for dissolution either did not exist or have been eliminated; and (3) State a cooperative name that satisfies the requirements of § 43-38-105 . (b) (1) If the secretary of state determines that the application contains the information required by subsection (a) and that the information is correct, the secretary of state shall cancel the certificate of dissolution and prepare a certificate of reinstatement that recites the secretary of state's determination and the effective date of reinstatement, file the original of the certificate, and serve a copy on the cooperative in accordance with § 43-38-110 . (2) If the cooperative name in subdivision (a)(3) is different than the cooperative name in subdivision (a)(1), the application of reinstatement shall constitute an amendment to the articles insofar as it pertains to the cooperative's name. (c) When the reinstatement is effective, it relates back to and takes effect as of the effective date of the administrative dissolution and the cooperative shall resume carrying on its business as if the administrative dissolution had never occurred.

Legislative History

Acts 2004, ch. 534, § 32.