Colorado § 7-129-107 Indemnification of officers, employees, fiduciaries, and agents

Colorado Statutes

§ 7-129-107 — Indemnification of officers, employees, fiduciaries, and agents

Colorado·Title 07 Corporations·Art. Indemnification

(1)Unless otherwise provided in the articles of incorporation:

(a)An officer is entitled to mandatory indemnification under section 7-129-103, and is entitled to apply for court-ordered indemnification under section 7-129-105, in each case to the same extent as a director;

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

(c)A nonprofit corporation may also indemnify and advance expenses to an officer, employee, fiduciary, or agent who is not a director to a greater extent, if not inconsistent with public policy, and if provided for by its bylaws, general or specific action of its board of directors or voting members, or contract.

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(1) Unless otherwise provided in the articles of incorporation:

(a) An officer is entitled to mandatory indemnification under section 7-129-103, and is entitled to apply for court-ordered indemnification under section 7-129-105, in each case to the same extent as a director;

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

(c) A nonprofit corporation may also indemnify and advance expenses to an
officer, employee, fiduciary, or agent who is not a director to a greater extent, if not
inconsistent with public policy, and if provided for by its bylaws, general or specific
action of its board of directors or voting members, or contract.

Colorado § 7-129-107 (Indemnification of officers, employees, fiduciaries, and agents) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.