Nonjudicial Dissolution

(a)Except as otherwise provided in §§ 171203 and 171215, a limited cooperative association is dissolved and its activities must be wound up:

(1)upon the occurrence of an event or at a time specified in the articles of organization;

(2)upon the action of the association’s organizers, board of directors, or members under § 171204 or 171205; or

(3)ninety

(90)calendar days after the dissociation of a member, which results in the association having one

(1)patron member and no other members, unless the association, no later than the end of the ninety (90)-day period, admits at least one

(1)member in accordance with the organic rules and has at least two

(2)members, at least one

(1)of which is a patron member. CH. 17 THE GUAM UNIFORM LIMITED COOPERATIVE ASSOCIATION ACT