Colorado § 7-109-107 Indemnification of officers, employees, fiduciaries, and agents

Colorado Statutes

§ 7-109-107 — Indemnification of officers, employees, fiduciaries, and agents

Colorado·Title 07 Corporations·Art. Indemnification

(1)An officer is entitled to mandatory indemnification or an advance of expenses under section 7-109-103, and is entitled to apply for court-ordered indemnification or an advance of expenses under section 7-109-105, in each case to the same extent as a director.

(2)A corporation may indemnify and advance expenses to an officer, employee, fiduciary, or agent of the corporation to the same extent as to a director.

(3)A corporation may also indemnify and advance expenses to an officer, employee, fiduciary, or agent who is not a director to such further extent as may be provided for by its articles of incorporation, bylaws, general or specific action of its board of directors or shareholders, or contract. This subsection (3) applies to an officer who is also a director if the basi

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(1) An officer is entitled to mandatory indemnification or an advance of expenses
under section 7-109-103, and is entitled to apply for court-ordered indemnification
or an advance of expenses under section 7-109-105, in each case to the same
extent as a director.

(2) A corporation may indemnify and advance expenses to an officer,
employee, fiduciary, or agent of the corporation to the same extent as to a director.

(3) A corporation may also indemnify and advance expenses to an officer,
employee, fiduciary, or agent who is not a director to such further extent as may be
provided for by its articles of incorporation, bylaws, general or specific action of its
board of directors or shareholders, or contract. This subsection (3) applies to an
officer who is also a director if the basis on which the officer is made a party to the
proceeding is an act or omission solely as an officer.

Colorado § 7-109-107 (Indemnification of officers, employees, fiduciaries, and agents) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 93: Entire article added, p. 793, � 1, effective July 1, 1994. L. 2019: Entire section amended, (SB 19-086), ch. 166, p. 1940, � 43, effective July 1, 2020.