Colorado § 7-80-803 Effect of dissolution

Colorado Statutes

§ 7-80-803 — Effect of dissolution

Colorado·Title 07 Corporations·Art. Limited Liability Companies

(1)A dissolved limited liability company continues its existence as a limited liability company but shall not carry on any business except as is appropriate to wind up and liquidate its business and affairs, including:

(a)Collecting its assets;

(b)Disposing of its properties that will not be distributed in kind to its members;

(c)Discharging or making provision for discharging its liabilities;

(d)Distributing its remaining property among its members; and

(e)Doing every other act necessary to wind up and liquidate its business and affairs.

(2)A dissolved limited liability company may dispose of claims against it pursuant to sections 7-90-911 and 7-90-912.

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(1) A dissolved limited liability company
continues its existence as a limited liability company but shall not carry on any
business except as is appropriate to wind up and liquidate its business and affairs,
including:

(a) Collecting its assets;

(b) Disposing of its properties that will not be distributed in kind to its
members;

(c) Discharging or making provision for discharging its liabilities;

(d) Distributing its remaining property among its members; and

(e) Doing every other act necessary to wind up and liquidate its business and
affairs.

(2) A dissolved limited liability company may dispose of claims against it
pursuant to sections 7-90-911 and 7-90-912.

Colorado § 7-80-803 (Effect of dissolution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.