In Re the Voluntary Dissolution of Kitsap-Mason Dairymen's Ass'n

The central issue in this appeal requires resolution of priorities upon the voluntary dissolution of a nonprofit agricultural cooperative marketing association. The determinative question is whether a nonmember holder of a Finance Fund Certificate (FFC), issued by Kit-sap-Mason Dairymen’s Association, who has never had any direct business relationship with the association and who has paid full value for his certificate, stands in a position of priority to other claimants to the association’s remaining assets. The nonmember holder of the FFC contends that he should be ranked (a) on a par with…