Colo. Rev. Stat. § 7-30-109
Disposition of personal property of inactive nonprofit association.
Effective Jul 1, 2004L. 94: Entire article added, p. 1274, § 1, effective May 22. L. 2003: Entire section amended, p. 2203, § 3, effective July 1, 2004.
(1) If a nonprofit association has been inactive for three years or longer, a person in possession or control of personal property of the nonprofit association may transfer the property:
- (a) If a document of the nonprofit association states a person to whom transfer is to be made under those circumstances, to that person; or
- (b) If no person is so stated, to a nonprofit association or nonprofit corporation pursuing broadly similar purposes or to a government, governmental subdivision, agency, or instrumentality.
Source: L. 94: Entire article added, p. 1274, § 1, effective May 22. L. 2003: Entire section amended, p. 2203, § 3, effective July 1, 2004.