{"data":{"id":"us-dc/d.c.-code-29-1006.04","jurisdiction":"us-dc","citation":"D.C. Code § 29-1006.04","heading":"Security interest and set-off.","body":"(a)\nA member or transferee may create an enforceable security interest in its financial rights in a limited cooperative association.\n\n(b)\nUnless the organic rules otherwise provide, a member shall not create an enforceable security interest in the member’s governance interests in a limited cooperative association.\n\n(c)\nThe organic rules may provide that a limited cooperative association has a security interest in the financial rights of a member to secure payment of any indebtedness or other obligation of the member to the association. A security interest provided for in the organic rules shall be enforceable under, and governed by, Article 9 of Subtitle I of Title 28.\n\n(d)\nUnless the organic rules otherwise provide, a member shall not compel the limited cooperative association to offset financial rights against any indebtedness or obligation owed to the association.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 10. Limited Cooperative Associations.","Subchapter VI. Member’s Interest in Limited Cooperative Association."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-1006.04","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"5267c788246dec74df60fc198167547d0b6aef52857f7ba36716d5f4089f8b09","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-1006.03","next":"us-dc/d.c.-code-29-1006.05"},"notice":"GroundRules: Original legal text. Not legal advice."}