Question
Hello tutors, can you discuss the different grounds of dissolution. I bold the grounds to be discussed. Thank you so much, tutors. ART. 66. Involuntary
Hello tutors, can you discuss the different grounds of dissolution. I bold the grounds to be discussed. Thank you so much, tutors.
"ART. 66. Involuntary Dissolution. - A cooperative may be dissolved by order of a competent court after due hearing on the grounds of:
"(1) Violation of any law, regulation or provisions of its bylaws; or
"(2) Insolvency.
"ART. 67. Dissolution by Order of the Authority. - The Authority may suspend or revoke, after due notice and hearing, the certificate of registration of a cooperative on any of the following grounds:
"(1) Having obtained its registration by fraud;
"(2) Existing for an illegal purpose;
"(3) Willful violation, despite notice by the Authority, of the provisions of this Code or its bylaws;
"(4) Willful failure to operate on a cooperative basis; and
"(5) Failure to meet the required minimum number of members in the cooperative.
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