C.R.S.
Section 7-114-105
Effect of dissolution
(1)
A dissolved corporation continues its corporate existence but may 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 shareholders;(c)
Discharging or making provision for discharging its liabilities;(d)
Distributing its remaining property among its shareholders according to their interests; and(e)
Doing every other act necessary to wind up and liquidate its business and affairs.(2)
Dissolution of a corporation does not:(a)
Transfer title to the corporation’s property;(b)
Prevent transfer of its shares or securities, although the authorization to dissolve may provide for closing the corporation’s share transfer records;(c)
Subject its directors or officers to standards of conduct different from those prescribed in article 108 of this title;(d)
Change quorum or voting requirements for its board of directors or shareholders; change provisions for selection, resignation, or removal of its directors or officers or both; or change provisions for amending its bylaws or its articles of incorporation;(e)
Prevent commencement of a proceeding by or against the corporation in its name; or(f)
Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution.(3)
A dissolved corporation may dispose of claims against it pursuant to sections 7-90-911 and 7-90-912.
Source:
Section 7-114-105 — Effect of dissolution, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-07.pdf (accessed Oct. 20, 2023).
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