reglab/housing_qa huggingface dataset:
CO Code § 7-58-1102 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 11 - Dissociation|§ 7-58-1102. Effect of Dissociation as Member

  Upon a member's dissociation, subject to section 7-58-1103:   The dissociated member has no further rights as a member; and    Any financial rights owned by the dissociated member in the dissociated member's capacity as a member immediately before dissociation are owned by the dissociated member as a transferee.       A dissociated member's dissociation as a member does not of itself discharge the dissociated member from any debt, obligation, or liability to the limited cooperative association that the dissociated member incurred under the articles or bylaws, by contract, or by other means while a member.     History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 803, § 1, effective April 2, 2012.
CO Code § 7-58-1103 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 11 - Dissociation|§ 7-58-1103. Power of Estate of Member

 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 rights and, for purposes of settling the estate of a deceased member, may exercise the informational rights of a current member to obtain information under section 7-58-505 (1) .   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 804, § 1, effective April 2, 2012.
CO Code § 7-58-1201 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1201. Dissolution - Winding Up

 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.   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 804, § 1, effective April 2, 2012.
CO Code § 7-58-1202 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1202. Voluntary Dissolution

  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:   Upon the occurrence of an event or at a time specified in the articles;    Upon the action of the association's organizers, board of directors, or members under section 7-58-1205 or 7-58-1206; or    Ninety days after the dissociation of a member that results in the association having one patron member and no other members, unless the association:   Has a sole member that is a cooperative; or    Not later than the end of the ninety-day period, admits at least one member in accordance with the articles or bylaws and has at least two members, at least one of which is a patron member.           History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 804, § 1, effective April 2, 2012.
CO Code § 7-58-1203 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1203. Judicial Dissolution - Grounds

  A limited cooperative association may be dissolved in a proceeding brought in court by the attorney general if it is established that:   The association obtained its articles of organization through fraud; or    The association has continued to exceed or abuse the authority conferred upon it by law.       A limited cooperative association may be dissolved in a proceeding brought in court by a member if it is established that:   The directors are deadlocked in the management of the association's affairs, the members are unable to break the deadlock, and irreparable injury to the association is occurring or is threatened because of the deadlock;    The directors or those in control of the association have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent;    The members are deadlocked in voting power and have failed to elect successors to directors whose terms have expired for two consecutive periods during which annual members meetings were held or were to be held; or    The assets of the association are being misapplied or wasted.       A limited cooperative association may be dissolved in a proceeding brought in court by a creditor if it is established that:   A creditor's claim has been reduced to judgment, the execution on the judgment has been returned unsatisfied, and the association is insolvent; or    The association is insolvent and the association has admitted in writing that a creditor's claim is due and owing.       In lieu of dissolution in a proceeding described in subsection (1), (2), or (3) of this section, the court may order any other relief that is appropriate and equitable.     History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 804, § 1, effective April 2, 2012.
CO Code § 7-58-1204 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1204. Judicial Dissolution - Procedure

  A judicial proceeding to dissolve a limited cooperative association must be brought in the proper court.    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.    A court in a judicial proceeding brought to dissolve a limited cooperative association may issue injunctions, appoint a receiver or custodian pendente lite with all powers and duties the court directs, take other action required to preserve the limited liability company's assets wherever located, and carry on the business of the association until a full hearing can be held.     History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 805, § 1, effective April 2, 2012.
CO Code § 7-58-1205 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1205. Voluntary Dissolution Before Commencement of Activity

 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.   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 806, § 1, effective April 2, 2012.
CO Code § 7-58-1206 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1206. Voluntary Dissolution by the Board and Members

  Except as otherwise provided in section 7-58-1205, for a limited cooperative association to voluntarily dissolve:   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;    The board of directors must call a members meeting to consider the resolution, to be held not later than ninety days after adoption of the resolution; and    The board of directors must mail or otherwise transmit or deliver to each member in a record that complies with section 7-58-508:   The resolution required by paragraph (a) of this subsection (1);    A recommendation that the members vote in favor of the resolution or, if the board determines that because of conflict of interest or any other reason it should not make a favorable recommendation, the basis of that determination; and    Notice of the members meeting, which must be given in the same manner as notice of a special meeting of members.          Subject to subsection (3) of this section, a resolution to dissolve must be approved by:   At least two-thirds of the voting power of members present at a members meeting called under paragraph (b) of subsection (1) of this section; and    If the limited cooperative association has investor members, at least a majority of the votes cast by patron members, unless the articles or bylaws require a greater percentage.       The articles or bylaws may require that the percentage of votes required under paragraph   of subsection (2) of this section is:    Measured against the voting power of all members; or    A combination of paragraphs (a) and (b) of this subsection (3).        (a) A different percentage that is not less than a majority of members voting at the meeting;   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 806, § 1, effective April 2, 2012.
CO Code § 7-58-1207 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1207. Winding Up

  A limited cooperative association continues its existence after dissolution only for purposes of winding up its activities.    In winding up a limited cooperative association's activities, the board of directors shall cause the association to:   Collect its assets;    Preserve the association or its property as a going concern for no more than a reasonable time;    Prosecute and defend actions and proceedings;    Dispose of its properties that will not be distributed in kind to its members;    Discharge or make provision for discharging its liabilities;    Distribute its remaining property among its members; and    Do every other act necessary to wind up and liquidate its business and affairs.       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:   After a reasonable time, the association has not wound up its activities; or    The applicant establishes other good cause.        History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 807, § 1, effective April 2, 2012.
CO Code § 7-58-1208 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1208. Distribution of Assets in Winding Up

  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 members in accordance with their right to distributions under subsection (2) of this section.    Unless the articles or bylaws otherwise provide, in this subsection (2), “financial interests” means the amounts recorded in the names of members in the records of a limited cooperative association at the time a distribution is made, including amounts paid to become a member, amounts allocated but not distributed to members, and amounts of distributions authorized but not yet paid to members. Unless the articles or bylaws otherwise provide, each member is entitled to a distribution from the association of any remaining assets in the proportion of the member's financial interests to the total financial interests of the members after all other obligations are satisfied.     History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 807, § 1, effective April 2, 2012.
CO Code § 7-58-1209 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1209. Court Proceeding

  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 made known to the association, or are based on an event occurring after the effective date of dissolution but that, based on the facts known to the association, are reasonably anticipated to arise after the effective date of dissolution.    Not later than ten days after filing an application under subsection (1) of this section, a dissolved limited cooperative association shall give notice of the proceeding to each known claimant holding a contingent claim.    The court may appoint a representative in a proceeding brought under this section to represent all claimants whose identities are unknown. The dissolved limited cooperative association shall pay reasonable fees and expenses of the representative, including all reasonable attorney fees and expert witness fees.    Provision by the dissolved limited cooperative association for security in the amount and the form ordered by the court satisfies the association's obligations with respect to claims that are contingent, have not been made known to the association, or are based on an event occurring after the effective date of dissolution, and the claims shall not be enforced against a member that received a distribution.     History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 808, § 1, effective April 2, 2012.
CO Code § 7-58-1210 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 12 - Dissolution|§ 7-58-1210. Statement of Dissolution

  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:   The domestic entity name of the limited cooperative association; and    The principal office address of the limited cooperative association's principal office.       A limited cooperative association is dissolved as provided in section 7-58-1202, 7-58-1203, or 7-90-908.    A person who is not a director or member has notice of the dissolution of a limited cooperative association on the earlier of:   The ninetieth day after the limited cooperative association's statement of dissolution is on file with the secretary of state; or    The date on which the person first has actual knowledge of the dissolution.        History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 808, § 1, effective April 2, 2012.
CO Code § 7-58-1301 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 13 - Action by Member|§ 7-58-1301. Derivative Action

  A member may maintain a derivative action to enforce a right of a limited cooperative association if:   The member demands in a record that the association bring an action to enforce the right; and    Any of the following occur:   The association does not, within ninety days after the association receives the demand, agree to bring the action;    The association notifies the member in a record that it has rejected the demand;    Irreparable harm to the association would result by waiting ninety days after the association receives the demand; or    The association agrees to bring an action demanded and fails to bring the action within a reasonable time.           History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 809, § 1, effective April 2, 2012.
CO Code § 7-58-1302 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 13 - Action by Member|§ 7-58-1302. Proper Plaintiff

  A derivative action to enforce a right of a limited cooperative association may be maintained only by a person that:   Is a member or a dissociated member at the time the action is commenced and:   Was a member when the conduct giving rise to the action occurred; or    Whose status as a member devolved upon the person by operation of law or the articles or bylaws from a person that was a member at the time of the conduct; and       Adequately represents the interests of the association.       If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member who meets the requirements of subsection (1) of this section to be substituted as plaintiff.     History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 809, § 1, effective April 2, 2012.
CO Code § 7-58-1303 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 13 - Action by Member|§ 7-58-1303. Pleading

  In a derivative action to enforce a right of a limited cooperative association, the complaint must state:   The date and content of the plaintiff's demand under section 7-58-1301 (1)(a) and the association's response;    If ninety days have not expired since the demand was received by the association, how irreparable harm to the association would result by waiting for the expiration of ninety days; and    If the association agreed to bring an action demanded, that the action has not been brought within a reasonable time.        History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 809, § 1, effective April 2, 2012.
CO Code § 7-58-1304 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 13 - Action by Member|§ 7-58-1304. Approval for Discontinuance or Settlement

 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.   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 810, § 1, effective April 2, 2012.
CO Code § 7-58-1305 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 13 - Action by Member|§ 7-58-1305. Proceeds and Expenses

  Except as otherwise provided in subsection (2) of this section:   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 plaintiff; and    If the plaintiff in the derivative action receives any proceeds, the plaintiff shall immediately remit them to the association.       If a derivative action to enforce a right of a limited cooperative association is successful in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney fees and costs, from the recovery of the association if not otherwise awarded against the defendant.    On the termination of a derivative proceeding commenced pursuant to this part 13, where the court finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose, the court may order the plaintiff to pay any of the defendant's reasonable expenses, including attorney fees, incurred by the defendant in connection with the defense of the proceeding.     History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 810, § 1, effective April 2, 2012.
CO Code § 7-58-1306 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 13 - Action by Member|§ 7-58-1306. Applicability of Derivative Proceeding to Foreign Limited Cooperative Associations

 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 7-58-1301 to 7-58-1305 are governed by the law of the jurisdiction under which the foreign limited cooperative association was formed; except that any matters raised in the proceeding covered by section 7-58-1304 are governed by the law of this state.   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 810, § 1, effective April 2, 2012.
CO Code § 7-58-1401 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 14 - Foreign Cooperatives|§ 7-58-1401. Authority to Transact Business or Conduct Activities Required

 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.   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 811, § 1, effective April 2, 2012.
CO Code § 7-58-1402 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 14 - Foreign Cooperatives|§ 7-58-1402. Registered Agent - Service of Process

 Part 7 of article 90 of this title, providing for registered agents and service of process, applies to foreign limited cooperative associations.   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 811, § 1, effective April 2, 2012.
CO Code § 7-58-1501 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 15 - Disposition of Assets|§ 7-58-1501. Disposition of Assets Not Requiring Member Approval

  Unless the articles of organization otherwise provide, member approval under section 7-58-1502 is not required for a limited cooperative association to:   Sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the association in the usual and regular course of business; or    Mortgage, pledge, dedicate to the repayment of indebtedness, or otherwise encumber in any way all or any part of the assets of the association, whether or not in the usual and regular course of business.        History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 811, § 1, effective April 2, 2012.
CO Code § 7-58-1502 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 15 - Disposition of Assets|§ 7-58-1502. Member Approval of Other Disposition or Encumbrance of Assets

 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 7-58-1504 .   History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 811, § 1, effective April 2, 2012.
CO Code § 7-58-1503 (2021)
2021 Colorado Code|Title 7 - Corporations and Associations|Article 58 - Uniform Limited Cooperative Association Act|Part 15 - Disposition of Assets|§ 7-58-1503. Notice and Action on Disposition or Encumbrance of Assets

  For a limited cooperative association to dispose of or encumber assets under section 7-58-1502:   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    The board of directors must call a members meeting to consider the proposed disposition or encumbrance, hold the meeting not later than ninety days after approval of the proposed disposition or encumbrance by the board, and mail or otherwise transmit or deliver in a record to each member:   The terms of the proposed disposition or encumbrance;    A recommendation that the members approve the disposition or encumbrance or, if the board determines that because of conflict of interest or any other reason it should not make a favorable recommendation, the basis for that determination;    A statement of any condition of the board's submission of the proposed disposition or encumbrance to the members; and    Notice of the meeting at which the proposed disposition or encumbrance will be considered, which notice must be given in the same manner as notice of a special meeting of members.           History. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 811, § 1, effective April 2, 2012.