Colorado § 7-109-108 Insurance

Colorado Statutes

§ 7-109-108 — Insurance

Colorado·Title 07 Corporations·Art. Indemnification

A corporation may purchase and maintain insurance
on behalf of a person who is or was a director, officer, employee, fiduciary, or agent
of the corporation, or who, while a director, officer, employee, fiduciary, or agent of
the corporation, is or was serving at the request of the corporation as a director,
officer, agent, associate, employee, fiduciary, manager, member, partner, promoter,
or trustee of, or in any other capacity with, another person or an employee benefit
plan, against liability asserted against or incurred by the person in that capacity or
arising from the person's status as a director, officer, employee, fiduciary, or agent,
whether or not the corporation would have power to indemnify the person against
the same liability under section 7-109-102, 7-109-103, or 7

Free access — add to your briefcase to read the full text and ask questions with AI

A corporation may purchase and maintain insurance
on behalf of a person who is or was a director, officer, employee, fiduciary, or agent
of the corporation, or who, while a director, officer, employee, fiduciary, or agent of
the corporation, is or was serving at the request of the corporation as a director,
officer, agent, associate, employee, fiduciary, manager, member, partner, promoter,
or trustee of, or in any other capacity with, another person or an employee benefit
plan, against liability asserted against or incurred by the person in that capacity or
arising from the person's status as a director, officer, employee, fiduciary, or agent,
whether or not the corporation would have power to indemnify the person against
the same liability under section 7-109-102, 7-109-103, or 7-109-107. Any such
insurance may be procured from any insurance company designated by the board
of directors, whether the insurance company is formed under the law of this state
or any other jurisdiction of the United States or elsewhere, including any insurance
company in which the corporation has an equity or any other interest through stock
ownership or otherwise.

Colorado § 7-109-108 (Insurance) — 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. 2003: Entire section amended, p. 2320, � 247, effective July 1, 2004. L. 2004: Entire section amended, p. 1501, � 268, effective July 1. L. 2019: Entire section amended, (SB 19-086), ch. 166, p. 1941, � 44, effective July 1, 2020.