Colorado § 7-56-718 Certain assignments of assets in dissolution

Colorado Statutes

§ 7-56-718 — Certain assignments of assets in dissolution

Colorado § 7-56-718

Title 07Corporations

Art.Cooperatives

This text of Colorado § 7-56-718 (Certain assignments of assets in dissolution) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-56-718 (2026).

Text

In the winding up of
the affairs of a cooperative when certain assets are not liquid and secured creditors
having claim on these assets have been satisfied, the trustees in liquidation or other
persons charged with winding up the cooperative's affairs are authorized to make
assignment of such assets to the unsecured creditors in settlement of their claims.
If assignment is refused in writing, and in the judgment of the trustees there is no
liquidity or market value and the costs involved in delaying the winding up of the
affairs of the cooperative exceed the potential benefits, the trustees are authorized
to assign the assets or future proceeds to any local or statewide nonprofit
organization that has as one of its principal purposes education or community
service. The trustees s

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In the winding up of
the affairs of a cooperative when certain assets are not liquid and secured creditors
having claim on these assets have been satisfied, the trustees in liquidation or other
persons charged with winding up the cooperative's affairs are authorized to make
assignment of such assets to the unsecured creditors in settlement of their claims.
If assignment is refused in writing, and in the judgment of the trustees there is no
liquidity or market value and the costs involved in delaying the winding up of the
affairs of the cooperative exceed the potential benefits, the trustees are authorized
to assign the assets or future proceeds to any local or statewide nonprofit
organization that has as one of its principal purposes education or community
service. The trustees shall under no circumstances be liable to any member or
equity holder in the cooperative for any claim on any assets assigned by the
trustees pursuant to the authority of this section.