{"data":{"id":"us-dc/d.c.-code-29-1012.05","jurisdiction":"us-dc","citation":"D.C. Code § 29-1012.05","heading":"Voluntary dissolution by the board and members.","body":"(a)\nExcept as otherwise provided in § 29-1012.04, for a limited cooperative association to voluntarily dissolve:\n(1)\nA resolution to dissolve shall be approved by a majority vote of the board of directors unless a greater percentage is required by the organic rules;\n(2)\nThe board of directors shall call a members meeting to consider the resolution, to be held not later than 90 days after adoption of the resolution; and\n(3)\nThe board of directors shall mail or otherwise transmit or deliver to each member in a record that complies with § 29-1005.08:\n(A)\nThe resolution required by paragraph (1) of this subsection;\n(B)\nA recommendation that the members vote in favor of the resolution or, if the board determines that because of conflict of interest or other special circumstances, it should not make a favorable recommendation, the basis of that determination; and\n(C)\nNotice of the members meeting, which shall be given in the same manner as notice of a special meeting of members.\n\n(b)\nSubject to subsection (c) of this section, a resolution to dissolve shall be approved by:\n(1)\nAt least 2/3 of the voting power of members present at a members meeting called under subsection (a)(2) of this section; and\n(2)\nIf the limited cooperative association has investor members, at least a majority of the votes cast by patron members, unless the organic rules require a greater percentage.\n\n(c)\nThe organic rules may require that the percentage of votes under subsection (b)(1) of this section shall be:\n(1)\nA different percentage that is not less than a majority of members voting at the meeting; or\n(2)\nMeasured against the voting power of all members; or\n(3)\nA combination of paragraphs (1) and (2) of this subsection.","path":["Title 29. Business Organizations. [Enacted title]","Chapter 10. Limited Cooperative Associations.","Subchapter XII. Dissolution."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/29-1012.05","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"22b44449bcc04f76ec444d10f79a5625ebe946ac514e5ed8b533625e230a437a","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-1012.04","next":"us-dc/d.c.-code-29-1012.06"},"notice":"GroundRules: Original legal text. Not legal advice."}