Administrative dissolution of cooperative

The secretary of state may commence a proceeding under § 47-18-16.4 to administratively dissolve a cooperative if: (1) The cooperative does not pay within sixty days after they are due any fees or penalties imposed by chapters 47-15 to 47-20 , inclusive, or other law; (2) The cooperative does not deliver its annual report to the secretary of state within sixty days after it is due; (3) The cooperative is without a registered agent or registered office in this state for sixty days or more; (4) The cooperative does not notify the secretary of state within sixty days that its registered agent has been changed or that its registered agent has resigned; or (5) The cooperative's period of duration stated in its articles of incorporation expires. Source: SL 1989, ch 390, § 7; SL 2008, ch 275, § 58.