Formation of limited cooperative association; articles of organization.

To form a limited cooperative association, an organizer of the association must deliver articles of organization to the Mayor for filing. The articles shall state: The name of the association, which shall comply with §§ 29-103.01 and 29-103.02(h); The purposes for which the association is formed; The street address and, if different, mailing address of the association’s initial principal office and the information required by § 29-104.04; The name and street address and, if different, mailing address of each organizer; and The term for which the association is to exist if other than perpetual. Subject to § 29-1001.09(a), articles of organization may contain any other provisions in addition to those required by subsection (a) of this section. A limited cooperative association shall be formed after articles of organization that substantially comply with subsection (a) of this section are delivered to the Mayor, are filed, and become effective under § 29-102.03. If articles of organization filed by the Mayor state a delayed effective date, a limited cooperative association shall not be formed if, before the articles take effect, an organizer signs and delivers to the Mayor for filing a statement of cancellation.