Colorado § 7-58-1202 Voluntary dissolution

Colorado Statutes

§ 7-58-1202 — Voluntary dissolution

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

(1)Except as otherwise provided in sections 7-58-1203 and 7-90-908, a limited cooperative association is dissolved and its activities must be wound up:

(a)Upon the occurrence of an event or at a time specified in the articles;

(b)Upon the action of the association's organizers, board of directors, or members under section 7-58-1205 or 7-58-1206; or

(c)Ninety days after the dissociation of a member that results in the association having one patron member and no other members, unless the association:

(I)Has a sole member that is a cooperative; or

(II)Not later than the end of the ninety-day period, admits at least one member in accordance with the articles or bylaws and has at least two members, at least one of which is a patron member.

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(1) Except as otherwise provided in
sections 7-58-1203 and 7-90-908, a limited cooperative association is dissolved
and its activities must be wound up:

(a) Upon the occurrence of an event or at a time specified in the articles;

(b) Upon the action of the association's organizers, board of directors, or
members under section 7-58-1205 or 7-58-1206; or

(c) Ninety days after the dissociation of a member that results in the
association having one patron member and no other members, unless the
association:

(I) Has a sole member that is a cooperative; or

(II) Not later than the end of the ninety-day period, admits at least one
member in accordance with the articles or bylaws and has at least two members, at
least one of which is a patron member.

Colorado § 7-58-1202 (Voluntary dissolution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.