Part 5 — Capital Structure Division 1 Membership Capital
106 Distribution on dissolution
of all debts and liabilities on dissolution of the cooperative,
including
(a) any declared and unpaid dividends,
(b) the amount to be paid to the holders of any investment
shares, and
(c) the amount to be paid on the redemption of membership
shares.
(2) The articles of the cooperative, except the articles of a
cooperative that is governed by Part 18, may provide that after the
payment of all debts and liabilities pursuant to subsection (1), the
value of the remaining property of the cooperative is to be
distributed to any person, including distribution
(a) among the members at th e time of dissolution in any
manner, including equally among the members irrespective
of the number of membership shares or amount of member
loans, if any, held or made by a member,
(b) among the members at the tim e of dissolution on the basis
of patronage returns accrued to those members during a
stated period before the dissolution, or
(c) to charitable organizations or cooperative entities.