§ 7-56-507 — Application of other laws

(1) If a matter is not addressed in this
article, the Colorado Business Corporation Act, articles 101 to 117 of this title, shall
apply to the cooperatives formed under or subject to this article; except that a
cooperative may elect to have the provisions of the Colorado Revised Nonprofit
Corporation Act, articles 121 to 137 of this title, apply to it if such cooperative does
so in its articles or by a resolution of its members that is delivered to the secretary
of state for filing pursuant to part 3 of article 90 of this title that states that the
cooperative elects to have the provisions of the Colorado Revised Nonprofit
Corporation Act, articles 121 to 137 of this title, apply to it. A cooperative may
revoke such election by amending its articles or by delivering to the secretary of
state, for filing pursuant to part 3 of article 90 of this title, a statement of change
that states that the cooperative revokes its election to have the provisions of the
Colorado Revised Nonprofit Corporation Act, articles 121 to 137 of this title, apply
to it and that the revocation of such election has been approved by resolution of its
members.

(2) Any exemptions under any existing law applying to goods or agricultural
products in the possession or under the control of an individual producer shall apply
similarly and completely to such goods or products when delivered by its members
to, and in the possession or under the control of, the cooperative.

Legislative History

Source: L. 96: Entire article R&RE, p. 511, � 1, effective July 1. L. 97: (1) amended, p. 760, � 22, effective July 1, 1998. L. 2002: (1) amended, p. 1818, � 24, effective July 1; (1) amended, p. 1682, � 22, effective October 1. L. 2003: Entire section amended, p. 2228, � 91, effective July 1, 2004.