{"data":{"id":"us-dc/d.c.-code-29-1003.03","jurisdiction":"us-dc","citation":"D.C. Code § 29-1003.03","heading":"Organization of limited cooperative association.","body":"(a)\nAfter a limited cooperative association is formed:\n(1)\nIf initial directors are named in the articles of organization, the initial directors shall hold an organizational meeting to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the association; or\n(2)\nIf initial directors are not named in the articles of organization, the organizers shall designate the initial directors and call a meeting of the initial directors to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the association.\n\n(b)\nUnless the articles of organization otherwise provide, the initial directors may cause the limited cooperative association to accept members, including those necessary for the association to begin business.\n\n(c)\nInitial directors need not be members.\n\n(d)\nAn initial director shall serve until a successor is elected and qualified at a members meeting or the director is removed, resigns, is adjudged incompetent, or dies.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 10. Limited Cooperative Associations.","Subchapter III. Formation and Initial Articles of Organization of Limited Cooperative Association."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-1003.03","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"e8067797c6052ae593f11f2fe3ec0a00d5bf57e21e2c03aeab3b20c8a3fefc51","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-1003.02","next":"us-dc/d.c.-code-29-1003.04"},"notice":"GroundRules: Original legal text. Not legal advice."}