§ 7-58-809 — Vacancy on board

Colorado § 7-58-809

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

Text

(1) Unless the articles or bylaws otherwise
provide, a vacancy on the board of directors must be filled:

(a) Within a reasonable time by majority vote of the remaining directors, until
the next annual members meeting or a special meeting of members is called to fill
the vacancy; and

(b) For the balance of the unexpired term by members at the next annual
members meeting or a special meeting of members called to fill the vacancy.

(2) Unless the articles or bylaws otherwise provide, if a vacating director was
elected or appointed by a class of members or a district:

(a) The new director must be of that class or district; and

(b) The selection of the director for the unexpired term must be conducted in
the same manner as would the selection for that position without a vacancy.

(3) If a member appointed a vacating director, the articles or bylaws may
provide for that member to appoint a director to fill the vacancy.

Legislative History

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