§ 7-58-822 — Appointment and authority of officers

Colorado § 7-58-822

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

Text

(1) A limited cooperative
association has the officers:

(a) Provided in the articles or bylaws; or

(b) Established by the board of directors in a manner not inconsistent with
the articles and bylaws.

(2) The articles or bylaws may designate or, if the articles or bylaws do not
designate, the board of directors shall designate, one of the association's officers
for preparing all records required by section 7-58-112 and for the authentication of
records.

(3) Unless the articles or bylaws otherwise provide, the board of directors
shall appoint the officers of the limited cooperative association.

(4) Officers of a limited cooperative association shall perform the duties the
articles and bylaws prescribe or as authorized by the board of directors in a manner
not inconsistent with the articles and bylaws.

(5) The election or appointment of an officer of a limited cooperative
association does not of itself create a contract between the association and the
officer.

(6) Unless the articles or bylaws otherwise provide, an individual may
simultaneously hold more than one office in a limited cooperative association.

Legislative History

Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 797, � 1, effective April 2, 2012.