§ 7-58-808 — Suspension of director by board

Colorado § 7-58-808

• Jurisdiction: Colorado
• Title 07: Corporations
• Art.: Uniform Limited Cooperative Association Act

Text

(1) A board of directors may
suspend a director if, considering the director's course of conduct and the
inadequacy of other available remedies, immediate suspension is necessary for the
best interests of the association and the director is engaging, or has engaged, in:

(a) Fraudulent conduct with respect to the association or its members;

(b) Gross abuse of the position of director;

(c) Intentional or reckless infliction of harm on the association; or

(d) Any other behavior, act, or omission as provided by the articles or bylaws.

(2) A suspension under subsection (1) of this section is effective for a period
determined by the board of directors, not to exceed sixty days, unless, before the
end of the suspension period, the board calls and gives notice of a special meeting
of members for removal of the director, in which case the suspension is effective
until the earlier of adjournment of the members meeting or removal of the director.

Legislative History

Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 793, � 1, effective April 2, 2012.