16-6a-1405. Effect of dissolution.
(1) A dissolved nonprofit corporation continues its corporate existence but may not carry on any activities except as is appropriate to wind up and liquidate its affairs, including: collecting its assets; returning, transferring, or conveying assets held by the nonprofit corporation upon a condition requiring return, transfer, or conveyance, which condition occurs by reason of the dissolution, in accordance with the condition; transferring, subject to any contractual or legal requirements, its assets as provided in or authorized by its articles of incorporation or bylaws; discharging or making provision for discharging its liabilities; and doing every other act necessary to wind up and liquidate its assets and affairs.
(2) Dissolution of a nonprofit corporation does not: transfer title to the nonprofit corporation's property including title to water rights, water conveyance facilities, or other assets of a nonprofit corporation organized to divert or distribute water to its members; subject its directors or officers to standards of conduct different from those prescribed in this chapter; change quorum or voting requirements for its board of directors or members; change provisions for selection, resignation, or removal of its directors or officers, or both; change provisions for amending its bylaws or its articles of incorporation; prevent commencement of a proceeding by or against the nonprofit corporation in its corporate name; or abate or suspend a proceeding pending by or against the nonprofit corporation on the effective date of dissolution.
(3) Nothing in this section may be applied in a manner inconsistent with a court's power of judicial dissolution exercised in accordance with Section. 16-6a-1414