Authority to amend organic rules

  1. Law
  2. District of Columbia Code
  3. Business Organizations. [Enacted title]
  4. Limited Cooperative Associations
  5. Amendment of Organic Rules of Limited Cooperative Association
  6. Authority to amend organic rules

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(a) A limited cooperative association may amend its organic rules under this subchapter for any lawful purpose. In addition, the initial board of directors may amend the bylaws of an association under § 29-1003.04.

(b) Unless the organic rules otherwise provide, a member shall not have a vested property right resulting from any provision in the organic rules, including a provision relating to the management, control, capital structure, distribution, entitlement, purpose, or duration of the limited cooperative association.

(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)

Section References

This section is referenced in § 29-1004.02.

Editor's Notes

Uniform Law: This section is based on § 401 of the Uniform Limited Cooperative Association Act.


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