Colorado § 7-58-804 Election of directors and composition of board

Colorado Statutes

§ 7-58-804 — Election of directors and composition of board

Colorado·Title 07 Corporations·Art. Uniform Limited Cooperative Association Act

(1)Unless the articles or bylaws require a greater number:

(a)The number of directors that must be patron members may not be fewer than:

(I)One, if there are two or three directors;

(II)Two, if there are four or five directors;

(III)Three, if there are six to eight directors; or

(IV)One-third of the directors if there are at least nine directors; and

(b)A majority of the board of directors must be elected exclusively by patron members.

(2)Unless the articles or bylaws otherwise provide, if a limited cooperative association has investor members, directors who are investor members and who are not elected exclusively by patron members must be elected by the investor members.

(3)Unless the articles or bylaws otherwise provide, all nonmember directors, if any, must be el

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(1) Unless the
articles or bylaws require a greater number:

(a) The number of directors that must be patron members may not be fewer
than:

(I) One, if there are two or three directors;

(II) Two, if there are four or five directors;

(III) Three, if there are six to eight directors; or

(IV) One-third of the directors if there are at least nine directors; and

(b) A majority of the board of directors must be elected exclusively by patron
members.

(2) Unless the articles or bylaws otherwise provide, if a limited cooperative
association has investor members, directors who are investor members and who are
not elected exclusively by patron members must be elected by the investor
members.

(3) Unless the articles or bylaws otherwise provide, all nonmember directors,
if any, must be elected by the patron members and the investor members.

(4) Subject to subsection (1) of this section, the articles or bylaws may
provide for the election of all or a specified number of directors by one or more
districts or classes of members.

(5) Subject to subsection (1) of this section, the articles or bylaws may
provide for the nomination or election of directors by districts or classes, directly or
by district delegates.

(6) If a class of members consists of a single member, the articles or bylaws
may provide for the member to appoint a director or directors.

(7) Unless the articles or bylaws otherwise provide, cumulative voting for
directors is prohibited.

(8) Except as otherwise provided by the articles, bylaws, subsection (6) of
this section, or section 7-58-303, 7-58-516, 7-58-517, or 7-58-809, member
directors must be elected at an annual members meeting.

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