Colorado § 7-129-108 Insurance

Colorado Statutes

§ 7-129-108 — Insurance

Colorado § 7-129-108

Title 07Corporations

Art.Indemnification

This text of Colorado § 7-129-108 (Insurance) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-129-108 (2026).

Text

A nonprofit corporation may purchase and maintain
insurance on behalf of a person who is or was a director, officer, employee,
fiduciary, or agent of the nonprofit corporation, or who, while a director, officer,
employee, fiduciary, or agent of the nonprofit corporation, is or was serving at the
request of the nonprofit corporation as a director, officer, partner, member,
manager, trustee, employee, fiduciary, or agent of any domestic or foreign entity or
of any 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 nonprofit corporation would have
power to indemnify the person against the same liability under section 7-129-102

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A nonprofit corporation may purchase and maintain
insurance on behalf of a person who is or was a director, officer, employee,
fiduciary, or agent of the nonprofit corporation, or who, while a director, officer,
employee, fiduciary, or agent of the nonprofit corporation, is or was serving at the
request of the nonprofit corporation as a director, officer, partner, member,
manager, trustee, employee, fiduciary, or agent of any domestic or foreign entity or
of any 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 nonprofit corporation would have
power to indemnify the person against the same liability under section 7-129-102, 7-129-103, or 7-129-107. Any such insurance may be procured from any insurance
company designated by the board of directors, whether such insurance company is
formed under the law of this state or any other jurisdiction, including any insurance
company in which the nonprofit corporation has an equity or any other interest
through stock ownership or otherwise.