N.J.S.A. 48:24-18

Dissolution.

48:24-18 Dissolution. 18. A rural electric cooperative may dissolve only when authorized by the affirmative vote of two-thirds of all the members of the cooperative. Any assets remaining after all liabilities or obligations of the cooperative have been satisfied or discharged upon dissolution shall be distributed pro rata among the members of the cooperative at the time of the filing of the certificate of dissolution in accordance with the cooperative's bylaws. L.2017, c.297, s.18.

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This is the verbatim text of N.J.S.A. 48:24-18, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.

N.J.S.A. 48:24-18 — Dissolution. | Kyzer