Colorado § 7-134-101 Dissolution by incorporators or directors if no members

Colorado Statutes

§ 7-134-101 — Dissolution by incorporators or directors if no members

Colorado·Title 07 Corporations·Art. Dissolution

(1)If a nonprofit corporation has no members, a majority of its directors or, if there are no directors, a majority of its incorporators may authorize the dissolution of the nonprofit corporation.

(2)The incorporators or directors in approving dissolution shall adopt a plan of dissolution indicating to whom the assets owned or held by the nonprofit corporation will be distributed after all creditors have been paid.

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(1) If a
nonprofit corporation has no members, a majority of its directors or, if there are no
directors, a majority of its incorporators may authorize the dissolution of the
nonprofit corporation.

(2) The incorporators or directors in approving dissolution shall adopt a plan
of dissolution indicating to whom the assets owned or held by the nonprofit
corporation will be distributed after all creditors have been paid.

Colorado § 7-134-101 (Dissolution by incorporators or directors if no members) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.