Colorado § 10-16-305 Directors

Colorado Statutes

§ 10-16-305 — Directors

Colorado § 10-16-305

Title 10Insurance

Art.Health-care Coverage

This text of Colorado § 10-16-305 (Directors) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-16-305 (2026).

Text

(1)The property and lawful business of every such corporation subject to the provisions of part 1 of this article and this part 3 shall be held and managed by a board of trustees or directors with such powers and authority as shall be necessary or incidental to the complete execution of the purposes of each such corporation as limited by its articles or the bylaws. No such board shall be composed of less than ten nor more than twenty-four members. Every such corporation with annual gross subscription income exceeding one million dollars shall have a majority of its board consisting of persons who are not:

(a)Members of the medical or nursing profession; or

(b)Employed by a hospital or clinic or employed by a corporation subject to part 1 of this article and to this part 3; or

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(1) The property and lawful business of every such
corporation subject to the provisions of part 1 of this article and this part 3 shall be
held and managed by a board of trustees or directors with such powers and
authority as shall be necessary or incidental to the complete execution of the
purposes of each such corporation as limited by its articles or the bylaws. No such
board shall be composed of less than ten nor more than twenty-four members.
Every such corporation with annual gross subscription income exceeding one
million dollars shall have a majority of its board consisting of persons who are not:

(a) Members of the medical or nursing profession; or

(b) Employed by a hospital or clinic or employed by a corporation subject to
part 1 of this article and to this part 3; or

(c) Otherwise directly or indirectly connected with hospitals or licensed
health-care institutions or purveyors of health services in this state.

(2) It is the duty of all members of a board of trustees or directors to
represent the interests of the subscribers or members of health service plans of
such corporation.

(3) Any such corporation subject to the provisions of part 1 of this article and
this part 3 shall keep correct and complete books and records of account and shall
keep minutes of the proceedings of its board of trustees or directors and
committees having authority of the board of trustees, and shall keep at its
registered office or principal office in this state a record of the names and
addresses of its subscribers or members of the health service plans of such
corporation. All books and records, excluding privileged medical records and
personal records of subscribers or members, of such corporation may be inspected
by any subscriber, or his agent or attorney at the registered or principal office of
the corporation, for any proper purpose at any reasonable time.