04. Purpose and duration of limited cooperative association. (a) A limited cooperative association shall be an entity distinct from its members. (b) A limited cooperative association may be organized for any lawful purpose, whether or not for profit. (c) Unless the articles of organization state a term for a limited cooperative association’s existence, the association shall have perpetual duration. (July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.) Section References This section is referenced in § 29-1001.09. Editor's Notes Uniform Law: This section is based on § 105 of the Uniform Limited Cooperative Association Act.
District of Columbia Legal Code