Colo. Rev. Stat. § 7-80-803 : CORPORATIONS AND ASSOCIATIONS —LIMITED LIABILITY COMPANIES — LIMITED LIABILITY COMPANIES — DISSOLUTION — VOLUNTARY DISSOLUTION —80-803 - Effect of dissolution

(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.

C.R.S. § 7-80-803

L. 2003: Entire part R&RE, p. 2269, § 192, effective July 1, 2004. L. 2006: (2) added, p. 863, § 35, effective July 1.

This section is similar to former § 8-80-807 as it existed prior to 2004.

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