{"data":{"id":"us-dc/d.c.-code-29-1012.06","jurisdiction":"us-dc","citation":"D.C. Code § 29-1012.06","heading":"Winding up.","body":"(a)\nA dissolved limited cooperative association shall wind up its activities and affairs, and except as provided in § 29-1012.07, continue after dissolution only for the purpose of winding up.\n\n(b)\nIn winding up a limited cooperative association’s activities, the board of directors:\n(1)\nShall discharge its liabilities, settle and close its activities, and marshal and distribute its assets; and\n(2)\nMay:\n(A)\nPreserve the association or its property as a going concern for no more than a reasonable time;\n(B)\nProsecute and defend actions and proceedings;\n(C)\nSettle disputes by mediation or arbitration;\n(D)\nDeliver to the Mayor for filing a statement of termination stating the name of the company and that the company is terminated;\n(E)\nTransfer the association’s property; and\n(F)\nPerform other acts necessary or appropriate to the winding up.\n\n(c)\nAfter dissolution and upon application of a limited cooperative association, a member, or a holder of financial rights, the Superior Court may order judicial supervision of the winding up of the association, including the appointment of a person to wind up the association’s activities, if:\n(1)\nAfter a reasonable time, the association has not wound up its activities; or\n(2)\nThe applicant establishes other good cause.\n\n(d)\nIf a person is appointed pursuant to subsection (c) of this section to wind up the activities of a limited cooperative association, the association shall promptly deliver to the Mayor for filing an amendment to the articles of organization to reflect the appointment.","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/29-1012.06","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"9ee4d7439efe52ebf9bf14e48705a41b6ce28d013c879cb12ce2c6a8605f501a","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-29-1012.05","next":"us-dc/d.c.-code-29-1012.07"},"notice":"GroundRules: Original legal text. Not legal advice."}