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Colorado Statutes, Title 7

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Colorado/Statutes

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Title 7, Corporations and Associations

0 chapters · 1,076 sections in this title.

All chapters in Title 71,076 Ch 58129 Ch 9088 Ch 8082 Ch 5665 Ch 6459 Ch 6255 Ch 6050 Ch 6131 Ch 10827 Ch 12825 Ch 5522 Ch 3021 Ch 10720 Ch 12719

1,076 sections·Filtered byTitle 7✕

Colo. Rev. Stat. § 7-58-1101 Member's dissociation
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(1) A member has the power to dissociate at any time, rightfully or wrongfully, by notice in a record. (2) Unless the articles or bylaws otherwise provide, a member's dissociation from a limited cooperative association is wrongful only if the dissociation: (a) Breaches an express…
Colo. Rev. Stat. § 7-58-1102 Effect of dissociation as member
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(1) Upon a member's dissociation, subject to section 7-58-1103: (a) The dissociated member has no further rights as a member; and (b) Any financial rights owned by the dissociated member in the dissociated member's capacity as a member immediately before dissociation are owned by…
Colo. Rev. Stat. § 7-58-1103 Power of estate of member
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Unless the articles or bylaws provide for greater rights, if a member is dissociated in accordance with section 7-58-1101 (4)(d)(V) or (4)(e), the member's personal representative or other legal representative may exercise the rights of a transferee of the member's financial righ…
Colo. Rev. Stat. § 7-58-111 Name
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(1) Use of the term "cooperative" or its abbreviation under this article or section 7-90-601 is not a violation of the provisions restricting the use of the term under section 7-90-601 (7)(a). (2) A limited cooperative association or a member may enforce the restrictions on the u…

Colo. Rev. Stat. § 7-58-112 Required information

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(1) Subject to subsection (2) of this section, a limited cooperative association shall maintain in a record available at its principal office: (a) A list containing the name, last-known street address and, if different, mailing address, and term of office of each director and off…

Colo. Rev. Stat. § 7-58-113 Business transactions of member with limited cooperative association

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Subject to sections 7-58-818 and 7-58-819 and except as otherwise provided in the articles or bylaws or a specific contract relating to a transaction, a member may lend money to and transact other business with a limited cooperative association in the same manner as a person that…

Colo. Rev. Stat. § 7-58-114 Dual capacity

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A person may have a patron member's interest and an investor member's interest. When such person acts as a patron member, the person is subject to this article and the articles and bylaws governing patron members. When such person acts as an investor member, the person is subject…

Colo. Rev. Stat. § 7-58-1201 Dissolution - winding up

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A limited cooperative association may be dissolved only as provided in this part 12 and in part 9 of article 90 of this title, and upon dissolution its business and activities must be wound up as provided in this part 12 and part 9 of article 90 of this title. Source: L. 2011: En…

Colo. Rev. Stat. § 7-58-1202 Voluntary dissolution

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(1) Except as otherwise provided in sections 7-58-1203 and 7-90-908, a limited cooperative association is dissolved and its activities must be wound up: (a) Upon the occurrence of an event or at a time specified in the articles; (b) Upon the action of the association's organizers…

Colo. Rev. Stat. § 7-58-1203 Judicial dissolution - grounds

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(1) A limited cooperative association may be dissolved in a proceeding brought in court by the attorney general if it is established that: (a) The association obtained its articles of organization through fraud; or (b) The association has continued to exceed or abuse the authorit…

Colo. Rev. Stat. § 7-58-1204 Judicial dissolution - procedure

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(1) A judicial proceeding to dissolve a limited cooperative association must be brought in the proper court. (2) It is not necessary to make members parties to a judicial proceeding to dissolve a limited cooperative association unless relief is sought against them individually. (…

Colo. Rev. Stat. § 7-58-1205 Voluntary dissolution before commencement of activity

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A majority of the organizers or initial directors of a limited cooperative association that has not yet begun business activity or the conduct of its affairs may dissolve the association. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 806, § 1, effective April 2,…

Colo. Rev. Stat. § 7-58-1206 Voluntary dissolution by the board and members

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(1) Except as otherwise provided in section 7-58-1205, for a limited cooperative association to voluntarily dissolve: (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; (b) …

Colo. Rev. Stat. § 7-58-1207 Winding up

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(1) A limited cooperative association continues its existence after dissolution only for purposes of winding up its activities. (2) In winding up a limited cooperative association's activities, the board of directors shall cause the association to: (a) Collect its assets; (b) Pre…

Colo. Rev. Stat. § 7-58-1208 Distribution of assets in winding up

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(1) In winding up a limited cooperative association's business, the association shall apply its assets to discharge its obligations to creditors, including members that are creditors. The association shall apply any remaining assets to pay in money the net amount distributable to…

Colo. Rev. Stat. § 7-58-1209 Court proceeding

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(1) Upon application by a dissolved limited cooperative association that has published a notice under section 7-90-912, the proper court may determine the amount and form of security to be provided for payment of claims against the association that are contingent, have not been m…

Colo. Rev. Stat. § 7-58-1210 Statement of dissolution

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(1) Upon dissolution, the limited cooperative association shall deliver to the secretary of state, for filing pursuant to part 3 of article 90 of this title, a statement of dissolution stating: (a) The domestic entity name of the limited cooperative association; and (b) The princ…

Colo. Rev. Stat. § 7-58-1301 Derivative action

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(1) A member may maintain a derivative action to enforce a right of a limited cooperative association if: (a) The member demands in a record that the association bring an action to enforce the right; and (b) Any of the following occur: (I) The association does not, within ninety …

Colo. Rev. Stat. § 7-58-1302 Proper plaintiff

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(1) A derivative action to enforce a right of a limited cooperative association may be maintained only by a person that: (a) Is a member or a dissociated member at the time the action is commenced and: (I) Was a member when the conduct giving rise to the action occurred; or (II) …

Colo. Rev. Stat. § 7-58-1303 Pleading

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(1) In a derivative action to enforce a right of a limited cooperative association, the complaint must state: (a) The date and content of the plaintiff's demand under section 7-58-1301 (1)(a) and the association's response; (b) If ninety days have not expired since the demand was…

Colo. Rev. Stat. § 7-58-1304 Approval for discontinuance or settlement

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A derivative action to enforce a right of a limited cooperative association may not be discontinued or settled without notice to the association and the court's approval. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 810, § 1, effective April 2, 2012.

Colo. Rev. Stat. § 7-58-1305 Proceeds and expenses

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(1) Except as otherwise provided in subsection (2) of this section: (a) Any proceeds or other benefits of a derivative action to enforce a right of a limited cooperative association, whether by judgment, compromise, or settlement, belong to the association and not to the plaintif…

Colo. Rev. Stat. § 7-58-1306 Applicability of derivative proceeding to foreign limited cooperative associations

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In any derivative proceeding in the right of a foreign limited cooperative association, the right of a person to commence or maintain a derivative proceeding in the right of a foreign limited cooperative association and any matters raised in the proceeding covered by sections 7-5…

Colo. Rev. Stat. § 7-58-1401 Authority to transact business or conduct activities required

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Part 8 of article 90 of this title, providing for the transaction of business or the conduct of activities by foreign entities, applies to foreign limited cooperative associations. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 811, § 1, effective April 2, 2012.

Colo. Rev. Stat. § 7-58-1402 Registered agent - service of process

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Part 7 of article 90 of this title, providing for registered agents and service of process, applies to foreign limited cooperative associations. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 811, § 1, effective April 2, 2012.

Colo. Rev. Stat. § 7-58-1501 Disposition of assets not requiring member approval

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(1) Unless the articles of organization otherwise provide, member approval under section 7-58-1502 is not required for a limited cooperative association to: (a) Sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the association in the usual a…

Colo. Rev. Stat. § 7-58-1502 Member approval of other disposition or encumbrance of assets

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A sale, lease, exchange, license, or other disposition of assets or an encumbrance of assets of a limited cooperative association, other than a disposition or encumbrance described in section 7-58-1501, requires approval of the association's members under sections 7-58-1503 and 7…

Colo. Rev. Stat. § 7-58-1503 Notice and action on disposition or encumbrance of assets

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(1) For a limited cooperative association to dispose of or encumber assets under section 7-58-1502: (a) A majority of the board of directors, or a greater percentage if required by the articles or bylaws, must approve the proposed disposition or encumbrance; and (b) The board of …

Colo. Rev. Stat. § 7-58-1504 Disposition or encumbrance of assets

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(1) Subject to subsection (2) of this section, a disposition or encumbrance of assets under section 7-58-1502 must be approved by: (a) At least a majority of the voting power of members present at a members meeting called under section 7-58-1503 (1)(b); and (b) If the limited coo…

Colo. Rev. Stat. § 7-58-1601 Definitions

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In this part 16, unless the context otherwise requires: (1) "Constituent entity" means an entity that is a party to a merger. (2) "Constituent limited cooperative association" means a limited cooperative association that is a party to a merger. (3) "Converting limited cooperative…

Colo. Rev. Stat. § 7-58-1602 Conversion

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A limited cooperative association may convert into any form of entity permitted by section 7-90-201 if the board of directors of the limited cooperative association adopts a plan of conversion that complies with section 7-90-201.3 and the members entitled to vote thereon, if any,…

Colo. Rev. Stat. § 7-58-1603 Action on plan of conversion by converting limited cooperative association

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(1) For a limited cooperative association to convert into another form of entity, a plan of conversion must be approved by a majority of the board of directors, or a greater percentage if required by the articles or bylaws, and the board of directors must call a members meeting t…

Colo. Rev. Stat. § 7-58-1604 Merger

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(1) One or more domestic limited cooperative associations may merge into another domestic entity if the board of directors of each association that is a party to the merger and each other entity that is a party to the merger adopts a plan of merger complying with section 7-90-203…

Colo. Rev. Stat. § 7-58-1605 Notice and action on plan of merger by constituent limited cooperative association

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(1) For a limited cooperative association to merge with another entity, a plan of merger must be approved by a majority vote of the board of directors or a greater percentage if required by the association's articles or bylaws. (2) The board of directors shall call a members meet…

Colo. Rev. Stat. § 7-58-1606 Approval or abandonment of merger by members

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(1) Subject to subsections (2) and (3) of this section, a plan of merger must be approved by: (a) At least a majority of the voting power of members present at a members meeting called under section 7-58-1605 (2); and (b) If the limited cooperative association has investor member…

Colo. Rev. Stat. § 7-58-1607 Merger of parent and subsidiary

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(1) Notwithstanding sections 7-58-1605 and 7-58-1606, by complying with this section, any parent limited cooperative association owning one hundred percent of the voting power, memberships, or interests of a subsidiary may either merge the subsidiary into itself or merge itself i…

Colo. Rev. Stat. § 7-58-1608 Filings required for conversion or merger

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(1) After a plan of conversion is approved, the converting entity shall deliver to the secretary of state, for filing pursuant to part 3 of article 90 of this title, a statement of conversion pursuant to section 7-90-201.7. (2) After a plan of merger is approved, the surviving en…

Colo. Rev. Stat. § 7-58-1609 Effect of conversion or merger

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(1) The effect of a conversion is determined by section 7-90-202. (2) The effect of a merger is determined by section 7-90-204. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 818, § 1, effective April 2, 2012.

Colo. Rev. Stat. § 7-58-1610 Consolidation

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(1) Constituent entities that are limited cooperative associations or foreign cooperatives may agree to call a merger a consolidation under this part 16. (2) All provisions governing mergers or using the term merger in this part 16 apply equally to mergers that the constituent en…

Colo. Rev. Stat. § 7-58-1611 Part not exclusive

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This part 16 does not prohibit a limited cooperative association from being converted or merged under law other than this part 16. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 818, § 1, effective April 2, 2012.

Colo. Rev. Stat. § 7-58-1701 Uniformity of application and construction

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In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it or similar statutes. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 818, § 1, effec…

Colo. Rev. Stat. § 7-58-1702 Relation to electronic signatures in global and national commerce act

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This article modifies, limits, or supersedes the federal "Electronic Signatures in Global and National Commerce Act", 15 U.S.C. sec. 7001 et seq., but does not modify, limit, or supersede section 101 (c) of that act, 15 U.S.C. sec. 7001 (c), or authorize electronic delivery of an…

Colo. Rev. Stat. § 7-58-1703 Saving clause

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This article does not affect an action or proceeding commenced, or right accrued, before April 2, 2012. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 818, § 1, effective April 2, 2012.

Colo. Rev. Stat. § 7-58-1704 Effective date

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This article takes effect April 2, 2012. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 818, § 1, effective April 2, 2012. PARTNERSHIPS

Colo. Rev. Stat. § 7-58-201 Limited cooperative associations - registered agents - service of process - annual reports

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(1) Part 7 of article 90 of this title, providing for registered agents and service of process, applies to limited cooperative associations formed under this article. (2) Part 5 of article 90 of this title, providing for periodic reports, applies to limited cooperative associatio…

Colo. Rev. Stat. § 7-58-202 Foreign entity authority

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Part 8 of article 90 of this title, providing for the transaction of business or the conduct of activities by foreign entities, applies to foreign limited cooperative associations formed under substantially similar laws of another jurisdiction. Source: L. 2011: Entire article add…

Colo. Rev. Stat. § 7-58-301 Organizers

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A limited cooperative association must be organized by one or more organizers. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 769, § 1, effective April 2, 2012.

Colo. Rev. Stat. § 7-58-302 Formation of limited cooperative association

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(1) To form a limited cooperative association, one or more organizers of the association shall deliver or cause to be delivered articles to the secretary of state for filing. (2) A limited cooperative association is formed after articles that substantially comply with section 7-5…

Colo. Rev. Stat. § 7-58-303 Articles

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(1) The articles shall state: (a) The domestic entity name of the limited cooperative association; (b) The purposes for which the limited cooperative association is formed, which may be for any lawful purpose; (c) The registered agent name and registered agent address of the asso…

Colo. Rev. Stat. § 7-58-304 Organization of limited cooperative association

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(1) After a limited cooperative association is formed: (a) If initial directors are named in the articles, the initial directors shall hold an organizational meeting to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the as…