{"data":{"id":"us-co/c.r.s.-7-58-1207","jurisdiction":"us-co","citation":"C.R.S. § 7-58-1207","heading":"Winding up.","body":"(1) A limited cooperative association continues its existence after dissolution only for purposes of winding up its activities.\n\n(2) In winding up a limited cooperative association's activities, the board of directors shall cause the association to:\n\n(a) Collect its assets;\n\n(b) Preserve the association or its property as a going concern for no more than a reasonable time;\n\n(c) Prosecute and defend actions and proceedings;\n\n(d) Dispose of its properties that will not be distributed in kind to its members;\n\n(e) Discharge or make provision for discharging its liabilities;\n\n(f) Distribute its remaining property among its members; and\n\n(g) Do every other act necessary to wind up and liquidate its business and affairs.\n\n(3) After dissolution and upon application of a limited cooperative association, a member, or a holder of financial rights, the proper court may order judicial supervision of the winding up of the association, including the appointment of a person to wind up the association's activities, if:\n\n(a) After a reasonable time, the association has not wound up its activities; or\n\n(b) The applicant establishes other good cause.","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":"81f2d568cdd8f1e789829855d84f309d05f2b5fee1457a6c3d96f5550187ea0f","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-7-58-1206","next":"us-co/c.r.s.-7-58-1208"},"notice":"GroundRules: Original legal text. Not legal advice."}