501.812 Procedure for and effect of administrative dissolution.
1. If the secretary of state determines that one or more grounds exist under section 501.811 for dissolving a cooperative, the secretary of state shall serve the cooperative with written notice of the secretary of state’s determination under section 501.106.
2. If the cooperative does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the secretary of state that each ground determined by the secretary of state does not exist within sixty days after service of the notice is perfected under section 501.106, the secretary of state shall administratively dissolve the cooperative by signing a certificate of dissolution that recites the ground or grounds for dissolution and its effective date. The secretary of state shall file the original of the certificate and serve a copy on the cooperative under section 501.106.
3. A cooperative administratively dissolved continues its existence but shall not carry on any business except that necessary to wind up and liquidate its business and affairs under section 501.805 and notify claimants under sections 501.807 and 501.808.
4. The administrative dissolution of a cooperative does not terminate the authority of its registered agent.
5. The secretary of state’s administrative dissolution of a cooperative pursuant to this section appoints the secretary of state the cooperative’s agent for service of process in any proceeding based on a cause of action which arose during the time the cooperative was authorized to transact business in this state. Service of process on the secretary of state under this subsection is service on the cooperative. Upon receipt of process, the secretary of state shall serve a copy of the process on the cooperative as provided in section 501.106. This subsection does not preclude service on the cooperative’s registered agent, if any.
98 Acts, ch 1152, §60, 69
Referred to in §501.104, 501.811, 501.813
Structure Iowa Code
Chapter 501 - CLOSED COOPERATIVES
Section 501.101 - Definitions.
Section 501.102 - Purposes and powers.
Section 501.103 - Permissible members — limited farming activities.
Section 501.105 - Execution and filing of documents.
Section 501.105A - Secretary of state — extra services — surcharge.
Section 501.106 - Registered office and registered agent.
Section 501.108 - Quo warranto.
Section 501.201 - Cooperative formation.
Section 501.202 - Documents of organization.
Section 501.203 - Amended and restated documents of organization.
Section 501.301 - Liability of members.
Section 501.302 - Calling and notice of meetings.
Section 501.303 - Conduct of meetings.
Section 501.303A - Remote participation in meetings of members.
Section 501.304 - Member information.
Section 501.305 - Multiple membership prohibited.
Section 501.306 - Number of votes.
Section 501.307 - Financial information.
Section 501.401 - Number and election.
Section 501.403 - Board action.
Section 501.404 - Director conflict of interest.
Section 501.406 - Standards of conduct.
Section 501.407 - Personal liability — indemnification.
Section 501.411 - Definitions.
Section 501.412 - Permissible indemnification.
Section 501.413 - Mandatory indemnification.
Section 501.414 - Advance for expenses.
Section 501.415 - Court-ordered indemnification.
Section 501.416 - Determination and authorization of indemnification.
Section 501.417 - Indemnification of officers.
Section 501.419 - Variation by corporate action — application of this part.
Section 501.420 - Exclusivity.
Section 501.501 - Issuance and transfer of interests.
Section 501.502 - Termination of membership.
Section 501.503 - Distribution of net savings.
Section 501.601 - Existing associations.
Section 501.603 - Sale of assets.
Section 501.611 - Definitions.
Section 501.613 - Consolidation.
Section 501.614 - Vote of members.
Section 501.615 - Objection of members — purchase of interests upon demand.
Section 501.616 - Value determined.
Section 501.617 - Articles of merger or consolidation.
Section 501.618 - Effective date — effect.
Section 501.619 - Abandonment before filing.
Section 501.702 - Inspection of records by interest holders.
Section 501.703 - Scope of inspection right.
Section 501.704 - Court-ordered inspection.
Section 501.711 - Financial statements for interest holders.
Section 501.712 - Other reports to interest holders.
Section 501.713 - Biennial report for secretary of state.
Section 501.801 - Dissolution by organizers or initial directors.
Section 501.802 - Dissolution by board of directors and members.
Section 501.803 - Articles of dissolution.
Section 501.804 - Revocation of dissolution.
Section 501.805 - Effect of dissolution.
Section 501.806 - Distribution of assets.
Section 501.807 - Known claims against dissolved cooperative.
Section 501.808 - Unknown claims against dissolved cooperative.
Section 501.811 - Grounds for administrative dissolution.
Section 501.812 - Procedure for and effect of administrative dissolution.
Section 501.813 - Reinstatement following administrative dissolution.
Section 501.814 - Appeal from denial of reinstatement.
Section 501.821 - Grounds for judicial dissolution.
Section 501.822 - Procedure for judicial dissolution.
Section 501.823 - Receivership or custodianship.