Colo. Rev. Stat. § 24-51-311
Notwithstanding the provisions of section 24-51-310, employees of a public hospital which is sold, leased, or otherwise transferred to a nonprofit corporation organized pursuant to the laws of this state for the purpose of conducting a hospital, or employees of an association-affiliated employer that has transferred title pursuant to section 26-12-112 (5)(a), C.R.S., to an entity organized pursuant to the laws of the state for the purpose of conducting a long-term care facility or health-care facility, may continue membership in the association if the board determines, in its sole discretion, that continued membership will not adversely affect its qualified governmental plan status and if the transfer agreement provides for continuance of membership and the new employer agrees to submit to the association the appropriate amount of employer and member contributions and disbursements pursuant to part 4 of this article.
C.R.S. § 24-51-311
This section is similar to former § 24-51-228 as it existed prior to 1987.