Formation of limited cooperative association

7-58-302. Formation of limited cooperative association. (1) To form a limited cooperative association, one or more organizers of the association shall deliver or cause to be delivered articles to the secretary of state for filing. (2) A limited cooperative association is formed after articles that substantially comply with section 7-58-303 (1) become effective under section 7-90-304. (3) If articles filed by the secretary of state state a delayed effective date, a limited cooperative association is not formed if, before the articles take effect, a statement of correction is filed pursuant to section 7-90-304 (3) that revokes the articles. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 769, � 1, effective April 2, 2012.