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Colo. Rev. Stat. § 7-109-101 Definitions
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As used in this article 109: (1) "Corporation" includes any domestic or foreign entity that is a predecessor of a corporation by reason of a merger or other transaction in which the predecessor's existence ceased upon consummation of the transaction. (2) "Director" means an indiv…
Colo. Rev. Stat. § 7-109-102 Authority to indemnify directors
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(1) Except as provided in subsection (4) of this section, a corporation may indemnify an individual made a party to a proceeding, because the individual is or was a director, against liability incurred in the proceeding if: (a) The individual's conduct was in good faith; and (b) …
Colo. Rev. Stat. § 7-109-103 Mandatory indemnification of directors
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Unless limited by its articles of incorporation, a corporation shall indemnify an individual who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the individual was a party because the individual is or was a director, against reasonable…
Colo. Rev. Stat. § 7-109-104 Advance of expenses to directors
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(1) A corporation may, before final disposition of a proceeding, pay for or reimburse the reasonable expenses incurred by an individual who is a party to a proceeding because that person is a director if: (a) The director delivers to the corporation a written affirmation of the d…