Colorado § 7-109-110 Notice to shareholders of indemnification of director

Colorado Statutes

§ 7-109-110 — Notice to shareholders of indemnification of director

Colorado·Title 07 Corporations·Art. Indemnification

If a
corporation indemnifies or advances expenses to a director under this article 109 in
connection with a proceeding by or in the right of the corporation, the corporation
shall give notice of the indemnification or advance to the shareholders with or
before the notice of the next shareholders' meeting. If the next shareholder action
is taken without a meeting at the instigation of the board of directors, the
corporation shall give the notice to the shareholders at or before the time the first
shareholder signs a document consenting to the action.

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

If a
corporation indemnifies or advances expenses to a director under this article 109 in
connection with a proceeding by or in the right of the corporation, the corporation
shall give notice of the indemnification or advance to the shareholders with or
before the notice of the next shareholders' meeting. If the next shareholder action
is taken without a meeting at the instigation of the board of directors, the
corporation shall give the notice to the shareholders at or before the time the first
shareholder signs a document consenting to the action.

Colorado § 7-109-110 (Notice to shareholders of indemnification of director) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 93: Entire article added, p. 794, � 1, effective July 1, 1994. L. 2021: Entire section amended, (HB 21-1124), ch. 41, p. 170, � 22, effective April 19.