Disposition of Assets Upon Termination. The Association by a 2/3 vote may vote to terminate this Agreement, or termination will occur if only one member is left in the Association. If termination occurs, all surplus money and property of the Association shall be conveyed or distributed to each member in proportion to all funds provided to the Association by that member on behalf of that member during its membership. Each member shall execute any instruments of conveyance necessary to effectuate such distribution or assignment.
Appears in 6 contracts
Samples: California Joint Powers Agreement, California Joint Powers Agreement, California Joint Powers Agreement
