{"data":{"id":"us-co/c.r.s.-7-58-1206","jurisdiction":"us-co","citation":"C.R.S. § 7-58-1206","heading":"Voluntary dissolution by the board and members.","body":"(1) Except as otherwise provided in section 7-58-1205, for a limited cooperative association to voluntarily dissolve:\n\n(a) A resolution to dissolve must be approved by a majority vote of the board of directors unless a greater percentage is required by the articles or bylaws;\n\n(b) The board of directors must call a members meeting to consider the resolution, to be held not later than ninety days after adoption of the resolution; and\n\n(c) The board of directors must mail or otherwise transmit or deliver to each member in a record that complies with section 7-58-508:\n\n(I) The resolution required by paragraph (a) of this subsection (1);\n\n(II) A recommendation that the members vote in favor of the resolution or, if the board determines that because of conflict of interest or any other reason it should not make a favorable recommendation, the basis of that determination; and\n\n(III) Notice of the members meeting, which must be given in the same manner as notice of a special meeting of members.\n\n(2) Subject to subsection (3) of this section, a resolution to dissolve must be approved by:\n\n(a) At least two-thirds of the voting power of members present at a members meeting called under paragraph (b) of subsection (1) of this section; and\n\n(b) If the limited cooperative association has investor members, at least a majority of the votes cast by patron members, unless the articles or bylaws require a greater percentage.\n\n(3) The articles or bylaws may require that the percentage of votes required under paragraph (a) of subsection (2) of this section is:\n\n(a) A different percentage that is not less than a majority of members voting at the meeting;\n\n(b) Measured against the voting power of all members; or\n\n(c) A combination of paragraphs (a) and (b) of this subsection (3).","path":["Title 7 - CORPORATIONS AND ASSOCIATIONS","Article 58 - Uniform Limited Cooperative Association Act","Part 12 - 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":"d66be2206dcd6e120afc209ec933a455c7bdfa473fe88cf4deeb86558af6de26","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-7-58-1205","next":"us-co/c.r.s.-7-58-1207"},"notice":"GroundRules: Original legal text. Not legal advice."}