(1) A dissolved limited cooperative association shall wind up its activities and affairs, and except as provided in RCW 23.100.1007
, the association continues after dissolution only for the purpose of winding up.
(2) In winding up its activities and affairs, the board of directors:
(a) Shall discharge the association's debts, obligations, or other liabilities, settle and close the association's activities, and marshal and distribute the assets of the association; and
(i) Deliver to the secretary of state for filing a statement of dissolution stating the name of the association and that the association is dissolved;
(ii) Preserve the association's activities, affairs, and property as a going concern for a reasonable time;
(iii) Prosecute and defend actions and proceedings, whether civil, criminal, or administrative;
(iv) Transfer the association's property;
(v) Settle disputes by mediation or arbitration;
(vi) Deliver to the secretary of state for filing a statement of termination stating the name of the company and that the company is terminated; and
(vii) Perform other acts necessary or appropriate to the winding up.
(3) After dissolution and upon application of a limited cooperative association, a member, or a holder of financial rights, a superior court may order judicial supervision of the winding up of the association, including the appointment of a person to wind up the association's activities, if:
(a) After a reasonable time, the association has not wound up its activities; or
(b) The applicant establishes other good cause.
(4) If a person is appointed pursuant to subsection (3) of this section to wind up the activities of a limited cooperative association, the association shall promptly deliver to the secretary of state for filing an amendment to the articles of organization to reflect the appointment.