{"data":{"id":"us-co/c.r.s.-7-114-105","jurisdiction":"us-co","citation":"C.R.S. § 7-114-105","heading":"Effect of dissolution.","body":"(1) A dissolved corporation continues its corporate existence but may not carry on any business except as is appropriate to wind up and liquidate its business and affairs, including:\n\n(a) Collecting its assets;\n\n(b) Disposing of its properties that will not be distributed in kind to its shareholders;\n\n(c) Discharging or making provision for discharging its liabilities;\n\n(d) Distributing its remaining property among its shareholders according to their interests; and\n\n(e) Doing every other act necessary to wind up and liquidate its business and affairs.\n\n(2) Dissolution of a corporation does not:\n\n(a) Transfer title to the corporation's property;\n\n(b) Prevent transfer of its shares or securities, although the authorization to dissolve may provide for closing the corporation's share transfer records;\n\n(c) Subject its directors or officers to standards of conduct different from those prescribed in article 108 of this title;\n\n(d) Change quorum or voting requirements for its board of directors or shareholders; change provisions for selection, resignation, or removal of its directors or officers or both; or change provisions for amending its bylaws or its articles of incorporation;\n\n(e) Prevent commencement of a proceeding by or against the corporation in its name; or\n\n(f) Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution.\n\n(3) A dissolved corporation may dispose of claims against it pursuant to sections 7-90-911 and 7-90-912.","path":["Title 7 - CORPORATIONS AND ASSOCIATIONS","Article 114 - Dissolution","Part 1 - VOLUNTARY DISSOLUTION"],"source_url":"https://olls.info/crs/crs2026-title-07.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"ad38bcb5594b59be0fcd1c9683842539079993ea774b144d118bea636bbf86c0","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-7-114-104","next":"us-co/c.r.s.-7-114-106"},"notice":"GroundRules: Original legal text. Not legal advice."}