Colorado § 7-58-1203 - Judicial dissolution - grounds.
Full text of Colorado Colorado Revised Statutes § 7-58-1203 — Judicial dissolution - grounds., with citation guidance and answers to common questions.
§ 7-58-1203. Judicial dissolution - grounds.
(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 authority conferred upon it by law.
(2) A limited cooperative association may be dissolved in a proceeding brought in court by a member if it is established that:
(a) 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;
(b) 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;
(c) 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
(d) The assets of the association are being misapplied or wasted.
(3) A limited cooperative association may be dissolved in a proceeding brought in court by a creditor if it is established that:
(a) A creditor's claim has been reduced to judgment, the execution on the judgment has been returned unsatisfied, and the association is insolvent; or
(b) The association is insolvent and the association has admitted in writing that a creditor's claim is due and owing.
(4) 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.
Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 804, § 1, effective April 2, 2012.
Frequently Asked Questions About Colorado § 7-58-1203
What does Colorado Revised Statutes § 7-58-1203 cover?
Section 7-58-1203 ("Judicial dissolution - grounds.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 7-58-1203?
A common citation format is "Colorado Revised Statutes § 7-58-1203" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 7-58-1203 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.