18 GCA § 171202: Nonjudicial Dissolution.
Where this section sits in the code
- Title 18: Business Structure and Function
- Division 1 - Business Structure
- Part 2 - Special Corporate Forms
- Chapter 17: Guam Uniform Limited Cooperative Association Act
- ARTICLE 12: DISSOLUTION
(a) Except as otherwise provided in §§ 171203 and 171215, a limited cooperative association is dissolved and its activities must be wound up:
(1) upon the occurrence of an event or at a time specified in the articles of organization;
(2) upon the action of the association’s organizers, board of directors, or members under § 171204 or 171205; or
(3) ninety (90) calendar days after the dissociation of a member, which results in the association having one (1) patron member and no other members, unless the association, no later than the end of the ninety (90)-day period, admits at least one (1) member in accordance with the organic rules and has at least two (2) members, at least one (1) of which is a patron member.
Collected 2026-09-27T03:54:38Z. Source file · JSON