11-13-608. Termination of associated entity or segment.
(1) The termination of a segment does not affect the segment's or the segment's associated entity's limitation on liabilities under this part.
(2) A segment is terminated upon the termination of the segment's associated entity.
(3) Subject to Subsection, the termination of a segment's associated entity or a segment may not affect the liability of the governing board, the governing body, a member of the governing board, a member of the governing body, an officer, an official, a contractor, or an employee for an action authorized: (3)(b) before the termination of the associated entity or the segment by the governing board of the terminated associated entity or by the governing body of the terminated segment; or after the termination of the associated entity or the segment by: a majority of individuals serving as members of the governing board of the terminated associated entity at the time the associated entity is terminated; or a majority of the individuals serving as members of the governing body of the terminated segment at the time the segment is terminated. Subsectionapplies to each action to: (3)(a) provide for the claims, debts, obligations, or liabilities of the terminated associated entity or the terminated segment; or otherwise wind up the affairs of the terminated associated entity or the terminated segment.