(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.)
This section is referenced in § 29-1004.02.
Uniform Law: This section is based on § 401 of the Uniform Limited Cooperative Association Act.
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 10 - Limited Cooperative Associations
Subchapter IV - Amendment of Organic Rules of Limited Cooperative Association
§ 29–1004.01. Authority to amend organic rules
§ 29–1004.02. Notice and action on amendment of organic rules
§ 29–1004.03. Method of voting on amendment of organic rules
§ 29–1004.04. Voting by district, class, or voting group
§ 29–1004.05. Approval of amendment
§ 29–1004.06. Restated articles of organization
§ 29–1004.07. Amendment or restatement of articles of organization; filing