Colorado Statutes
§ 7-129-103 — Mandatory indemnification of directors
Unless limited by its
articles of incorporation, a nonprofit corporation shall indemnify a person who was
wholly successful, on the merits or otherwise, in the defense of any proceeding to
which the person was a party because the person is or was a director, against
reasonable expenses incurred by the person in connection with the proceeding.
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Legislative History
Source: L. 97: Entire article added, p. 703, � 3, effective July 1, 1998.
Nearby Sections
15
§ 7-101-101
Short title§ 7-101-102
Reservation of power to amend or repeal§ 7-101-201
Filing requirements§ 7-101-401
General definitions§ 7-101-501
Short title§ 7-101-504
Nonprofit corporations§ 7-101-506
Duties of directors§ 7-101-507
Benefit report - definition§ 7-101-509
No effect on other corporations§ 7-102-101
Incorporators§ 7-102-102
Articles of incorporation§ 7-102-103
Incorporation