The Colorado General Assembly can remedy this problem by amending Colorado corporations law to allow for administrative dissolution of corporations, rather than continuing to require the attorney general to file a lawsuit for judicial dissolution if an entity obtains its articles of incorporation through fraud.
When business partners have no mechanism for buying each other out or transferring their interest or dissolving their business, Colorado law steps in and various statutes and rules provide an answer. However, you may not like what the laws state, which is why it is always preferable to draft an agreement that suits your needs. Find out what's new this year and how it affects dissolution.
