Colorado § 7-55-106 Power of directors

Colorado Statutes

§ 7-55-106 — Power of directors

Colorado·Title 07 Corporations·Art. Cooperatives - General

A majority of the board of directors of a
cooperative association has full power or authority to authorize the execution and
delivery of mortgages or deeds of trust upon, or the pledging of or encumbering of
any or all of the property, assets, licenses, franchises, and permits or other things of
value of, such association or corporation, whether acquired or to be acquired and
wherever situated, as well as any revenues and incomes therefrom, all upon such
terms and conditions as such board of directors determines, to secure any
indebtedness of such corporation.

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A majority of the board of directors of a
cooperative association has full power or authority to authorize the execution and
delivery of mortgages or deeds of trust upon, or the pledging of or encumbering of
any or all of the property, assets, licenses, franchises, and permits or other things of
value of, such association or corporation, whether acquired or to be acquired and
wherever situated, as well as any revenues and incomes therefrom, all upon such
terms and conditions as such board of directors determines, to secure any
indebtedness of such corporation.

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