Colorado § 7-58-1102 Effect of dissociation as member

Colorado Statutes

§ 7-58-1102 — Effect of dissociation as member

Colorado·Title 07 Corporations·Art. Uniform Limited Cooperative Association Act

(1)Upon a member's dissociation, subject to section 7-58-1103:

(a)The dissociated member has no further rights as a member; and

(b)Any financial rights owned by the dissociated member in the dissociated member's capacity as a member immediately before dissociation are owned by the dissociated member as a transferee.

(2)A dissociated member's dissociation as a member does not of itself discharge the dissociated member from any debt, obligation, or liability to the limited cooperative association that the dissociated member incurred under the articles or bylaws, by contract, or by other means while a member.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) Upon a member's
dissociation, subject to section 7-58-1103:

(a) The dissociated member has no further rights as a member; and

(b) Any financial rights owned by the dissociated member in the dissociated
member's capacity as a member immediately before dissociation are owned by the
dissociated member as a transferee.

(2) A dissociated member's dissociation as a member does not of itself
discharge the dissociated member from any debt, obligation, or liability to the
limited cooperative association that the dissociated member incurred under the
articles or bylaws, by contract, or by other means while a member.

Colorado § 7-58-1102 (Effect of dissociation as member) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.