Manager's or member's power to bind limited liability company after dissolution.

  1. Law
  2. Colorado Revised Statutes
  3. Corporations And Associations
  4. Limited Liability Companies
  5. Manager's or member's power to bind limited liability company after dissolution.

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(1) Subject to section 7-80-802 (3), a limited liability company is bound by a manager's act or, in the case of a limited liability company, the articles of organization of which provide that management is vested in members, a member's act after dissolution that:

  1. Is appropriate for winding up the limited liability company's business; or

  2. Would have bound the limited liability company under section 7-80-405 before dissolution, if the other party to the transaction did not have notice of the dissolution.

Source: L. 2006: Entire section added, p. 863, § 36, effective July 1.


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