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Title 7 – Corporations and Associations Article 126 – Members and Memberships Transfers 7-126-202. Transfers (1) Unless otherwise provided by the bylaws, no member of a nonprofit corporation may transfer a membership or any right arising therefrom. (2) Where transfer rights have been provided, no restriction on them shall be binding with respect to a […]
Title 7 – Corporations and Associations Article 126 – Members and Memberships Creditor’s action against member No proceeding may be brought by a creditor to reach the liability, if any, of a member to the nonprofit corporation unless final judgment has been rendered in favor of the creditor against the nonprofit corporation and execution has […]
Title 7 – Corporations and Associations Article 121 – General Provisions Powers – repeal. (Repealed)
Title 7 – Corporations and Associations Article 126 – Members and Memberships Termination, expulsion, or suspension 7-126-302. Termination, expulsion, or suspension (1) Unless otherwise provided by the bylaws, no member of a nonprofit corporation may be expelled or suspended, and no membership or memberships in such nonprofit corporation may be terminated or suspended except pursuant […]
Title 7 – Corporations and Associations Article 126 – Members and Memberships Purchase of memberships Unless otherwise provided by the bylaws, a nonprofit corporation shall not purchase the membership of a member who resigns or whose membership is terminated. If so authorized, a nonprofit corporation may purchase the membership of a member who resigns or […]
Title 7 – Corporations and Associations Article 126 – Members and Memberships Residential membership – return of consideration – cessation of periodic payments – time limits – effective date (1) Notwithstanding any provision of the articles of incorporation or bylaws to the contrary: (a) (I) A residential nonprofit corporation shall refund the entrance fee of […]
Title 7 – Corporations and Associations Article 121 – General Provisions General definitions As used in articles 121 to 137 of this title 7, unless the context otherwise requires: (1) (Deleted by amendment, L. 2003, p. 2332, § 280, effective July 1, 2004.) (2) “Articles of incorporation” includes amended articles of incorporation, restated articles of […]
Title 7 – Corporations and Associations Article 121 – General Provisions Private foundations (1) Except where otherwise determined by a court of competent jurisdiction, a nonprofit corporation that is a private foundation as defined in section 509 (a) of the internal revenue code: (a) Shall distribute such amounts for each taxable year at such time […]
Title 7 – Corporations and Associations Article 121 – General Provisions Short title Articles 121 to 137 of this title shall be known and may be cited as the “Colorado Revised Nonprofit Corporation Act”.
Title 7 – Corporations and Associations Article 121 – General Provisions Reservation of power to amend or repeal The general assembly has the power to amend or repeal all or part of articles 121 to 137 of this title at any time and all domestic and foreign nonprofit corporations subject to said articles shall be […]
Title 7 – Corporations and Associations Article 122 – Incorporation Incorporation 7-122-103. Incorporation (1) A nonprofit corporation is incorporated when the articles of incorporation are filed by the secretary of state or, if a delayed effective date is stated pursuant to section 7-90-304 in the articles of incorporation as filed by the secretary of state […]
Title 7 – Corporations and Associations Article 122 – Incorporation Unauthorized assumption of corporate powers All persons purporting to act as or on behalf of a nonprofit corporation without authority to do so and without good-faith belief that they have such authority shall be jointly and severally liable for all liabilities incurred or arising as […]