Colorado § 7-80-803.3 - Right to wind up business.
Full text of Colorado Colorado Revised Statutes § 7-80-803.3 — Right to wind up business., with citation guidance and answers to common questions.
§ 7-80-803.3. Right to wind up business.
(1) After dissolution, the manager or, if there is no manager, any member may wind up the limited liability company's business, but on application of any member, member's legal representative, or member's assignee or transferee, the district court, for good cause shown, may order judicial supervision of the winding up.
(2) The legal representative, assignee, or transferee of the last remaining member may wind up the limited liability company's business if the limited liability company dissolves.
(3) A person winding up a limited liability company's business may preserve the business or property as a going concern for a reasonable time, prosecute and defend actions and proceedings, whether civil, criminal, or administrative, settle disputes, settle and close the limited liability company's business, dispose of and transfer the limited liability company's property, discharge or provide for obligations of the limited liability company, distribute the assets of the limited liability company pursuant to section 7-80-803 (1)(d), and perform other necessary acts.
Source: L. 2006: Entire section added, p. 863, § 36, effective July 1.
ANNOTATION
A pending contingency fee agreement case is business of a dissolved LLC. LaFond v. Sweeney, 2015 CO 3, 343 P.3d 939.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-80-803.3
What does Colorado Revised Statutes § 7-80-803.3 cover?
Section 7-80-803.3 ("Right to wind up business.") 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 § 7-80-803.3?
A common citation format is "Colorado Revised Statutes § 7-80-803.3" (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 § 7-80-803.3 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.