Dissolution of a Co-operative Overview

Step 1:  

Review ISC forms, especially the template for the Statement of Intent to Dissolve (This can be found on the Co-operatives form page under End or Restart your Co-operative.) 

Step 2:  

Meeting of members approves resolution to dissolve with 2/3 majority vote, and covers material in Statement of Intent template noted above. Resolution appoints liquidator.

Step 3:  

Complete Statement of Intent to Dissolve including total assets and liabilities, and members equity as of date of resolution to dissolve the co-operative. Refer to ss. 170-71 of The Co-operatives Act for liquidator duties.

Step 4:  

File Statement of Intent including Statutory Declaration of Liquidator. Please note: there are fees for email or paper output confirmation of registration.

Step 5:  

Review Step 2 ISC forms located under the End or Restart your Co-operative heading on the Co-operative forms page, especially Notice of Statement of Dissolution and Notice to Creditors template.

Step 6:  

Publish newspaper ad for 2 consecutive weeks in trading area of co-operative indicated Notice of Dissolution and Notice to Creditors. After 60 days, if no claims received, move to step 7.

Step 7:  

Distribute assets and member equity in accordance with Statement of Intent to Dissolve.

Step 8:  

Complete and file with ISC step 2 documents once assets are fully distributed. 

Step 9:  

Dissolution complete.

Disclaimer Notice: This document is for informational purposes only. ISC will not accept any claims arising from, resulting from, or in any way related to information contained in this document, or arising from actions taken or not taken whatsoever or howsoever related to this document. The contents of this factsheet are intended to convey general self-help information only.  It is not intended to be and should not be relied upon for legal advice in any circumstance.  You should always seek the advice of legal counsel.