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resources / Statutes / Colorado Common Interest Ownership Act / §38-33.3-303

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 whose membership is terminated for the amount and pursuant to the conditions stated in or authorized by its bylaws. No payment shall be made in violation of article 133 of this title.