Distribution of cooperative assets upon dissolution.

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(2) If a manufactured dwelling park nonprofit cooperative dissolves, after payment or provision for all debts, liabilities and obligations of the cooperative, the cooperative shall distribute the assets of the cooperative to:

(a) Another manufactured dwelling park nonprofit cooperative;

(b) An organization organized for a public or charitable purpose;

(c) A religious corporation;

(d) The United States;

(e) This state;

(f) A local government in this state;

(g) A housing authority created under ORS 456.055 to 456.235; or

(h) A person that is recognized as tax exempt under section 501(c)(3) of the Internal Revenue Code. [2007 c.607 §6; 2009 c.609 §6]


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