Minn. Stat. § 308B.961: Court-supervised Dissolution Order

§ 308B.961 Court-supervised Dissolution Order

Statute text

Extracted from the Revisor of Statutes; first captured here October 15, 2026. Formatting and whitespace are normalized. Extraction can contain errors; the linked official text controls.

Subdivision 1. Conditions for dissolution order.

In an involuntary or supervised voluntary dissolution after the costs and expenses of the proceedings and all debts, obligations, and liabilities of the cooperative have been paid or discharged and the remaining property and assets have been distributed to its members or, if its property and assets are not sufficient to satisfy and discharge the costs, expenses, debts, obligations, and liabilities, when all the property and assets have been applied so far as they will go to their payment according to their priorities, the court shall enter an order dissolving the cooperative.

Subdivision 2. Dissolution effective on filing order.

When the order dissolving the cooperative or association has been entered, the cooperative or association is dissolved.

History: 2003 c 105 art 1 s 83

Notes & interpretation Not part of the law

Verified against sources: October 15, 2026Last edited: October 15, 2026

In plain language#

Subd. 1. After costs and expenses and all debts, obligations and liabilities have been paid or discharged and remaining property distributed to members (or, if assets are insufficient, after all assets have been applied toward payment according to their priorities), the court "shall enter an order dissolving the cooperative."
Subd. 2. When the order has been entered, the cooperative is dissolved. The subdivision heading says "Dissolution effective on filing order"; the text says dissolution occurs when the order is entered.

How it works in practice#

Compare the voluntary route, where dissolution occurs on filing articles of dissolution (§ 308B.921).
The court administrator files a certified copy with the Secretary of State (§ 308B.965).
Subd. 2 refers to "cooperative or association"; chapter 308B governs cooperative associations, so we read this as the cooperative.

Court procedure: § 308B.935
Filing the order: § 308B.965

Sources

P1 Minnesota Statutes, Chapter 308B (Cooperative Associations), Office of the Revisor of Statutes, State of Minnesota. revisor.mn.gov (primary; accessed October 15, 2026)

dissolution