Colorado § 7-58-901 Indemnification

Colorado Statutes

§ 7-58-901 — Indemnification

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

(1)Indemnification of an individual who has incurred liability or is a party, or is threatened to be made a party, to litigation because of the performance of a duty to, or activity on behalf of, a limited cooperative association is governed by the Colorado Business Corporation Act, articles 101 to 117 of this title.

(2)A limited cooperative association may purchase and maintain insurance on behalf of any individual against liability asserted against or incurred by the individual to the same extent and subject to the same conditions as provided by the Colorado Business Corporation Act, articles 101 to 117 of this title.

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(1) Indemnification of an individual who has
incurred liability or is a party, or is threatened to be made a party, to litigation
because of the performance of a duty to, or activity on behalf of, a limited
cooperative association is governed by the Colorado Business Corporation Act,
articles 101 to 117 of this title.

(2) A limited cooperative association may purchase and maintain insurance
on behalf of any individual against liability asserted against or incurred by the
individual to the same extent and subject to the same conditions as provided by the
Colorado Business Corporation Act, articles 101 to 117 of this title.

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