§ 7-55-105 — Election of officers

The officers of an association formed under
this article shall consist of a president, one or more vice-presidents as may be
prescribed by the bylaws, a secretary, and a treasurer, each of whom shall be
elected by the board of directors at such time and in such manner as may be
prescribed by the bylaws, and none of whom are required to be directors of such
association unless the bylaws so provide. The bylaws may provide that any of such
officers may not be directors of such an association. The bylaws may provide for the
election by the board of directors, from among their number, of a chair of the board
of directors and one or more vice-chairs. Such other officers and assistant officers
and agents as are necessary may be elected or appointed by the board of directors
or chosen in such manner as may be prescribed by the bylaws. The board may
combine the offices of secretary and treasurer and designate the combined office
as secretary-treasurer, or unite both functions and titles in one person. The
treasurer may be a bank or any depository, and, as such, shall not be considered as
an officer but as a function of the board of directors. In such case, the secretary
shall perform the usual accounting duties of the treasurer; except that the funds
shall be deposited only as authorized by the board of directors. All officers and
agents of the association, as between themselves and the association, shall have
such authority and perform such duties in the management of the association as
may be provided in the bylaws, or as may be determined by resolution of the board
of directors not inconsistent with the bylaws.

Legislative History

Source: L. 73: R&RE, p. 430, � 1. C.R.S. 1963: � 30-1-5. L. 2003: Entire section amended, p. 2215, � 53, effective July 1, 2004. L. 2004: Entire section amended, p. 1408, � 32, effective July 1.