Colorado § 7-108-108 Removal of directors by shareholders

Colorado Statutes

§ 7-108-108 — Removal of directors by shareholders

Colorado·Title 07 Corporations·Art. Directors and Officers

(1)The shareholders may remove one or more directors with or without cause unless the articles of incorporation provide that directors may be removed only for cause.

(2)If a director is elected by a voting group of shareholders, only the shareholders of that voting group may participate in the vote to remove that director.

(3)A director may be removed only if the number of votes cast in favor of removal exceeds the number of votes cast against removal; except that, if cumulative voting is in effect, a director may not be removed if the number of votes sufficient to elect the director under cumulative voting is voted against such removal.

(4)A director may be removed by the shareholders only at a meeting called for the purpose of removing the director, and the meeting notice

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(1) The shareholders may
remove one or more directors with or without cause unless the articles of
incorporation provide that directors may be removed only for cause.

(2) If a director is elected by a voting group of shareholders, only the
shareholders of that voting group may participate in the vote to remove that
director.

(3) A director may be removed only if the number of votes cast in favor of
removal exceeds the number of votes cast against removal; except that, if
cumulative voting is in effect, a director may not be removed if the number of votes
sufficient to elect the director under cumulative voting is voted against such
removal.

(4) A director may be removed by the shareholders only at a meeting called
for the purpose of removing the director, and the meeting notice shall state that the
purpose, or one of the purposes, of the meeting is removal of the director.

(5) (Deleted by amendment, L. 2004, p. 1498, � 254, effective July 1, 2004.)

Colorado § 7-108-108 (Removal of directors by shareholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 93: Entire article added, p. 780, � 1, effective July 1, 1994. L. 2000: (5) amended, p. 978, � 57, effective July 1. L. 2002: (5) amended, p. 1848, � 112, effective July 1; (5) amended, p. 1713, � 112, effective October 1. L. 2004: (4) and (5) amended, p. 1498, � 254, effective July 1.