Title 7, Corporations and Associations
0 chapters · 1,168 sections in this title.
Colo. Rev. Stat. § 7-126-101 No requirement of members
0.1K chars
A nonprofit corporation is not required to have members. Source: L. 97: Entire article added, p. 671, � 3, effective July 1, 1998.
Colo. Rev. Stat. § 7-126-102 Admission
0.3K chars
(1) The bylaws may establish criteria or procedures for admission of members. (2) No person shall be admitted as a member without such person's consent. (3) A nonprofit corporation may issue certificates evidencing membership therein. Source: L. 97: Entire article added, p. 671, …
Colo. Rev. Stat. § 7-126-103 Liability to third parties
0.3K chars
The directors, officers, employees, and members of a nonprofit corporation are not, as such, personally liable for the acts, debts, liabilities, or obligations of a nonprofit corporation. Source: L. 97: Entire article added, p. 671, � 3, effective July 1, 1998.
Colo. Rev. Stat. § 7-126-104 Consideration
0.2K chars
Unless otherwise provided by the bylaws, a nonprofit corporation may admit members for no consideration or for such consideration as is determined by the board of directors. Source: L. 97: Entire article added, p. 671, � 3, effective July 1, 1998.
Colo. Rev. Stat. § 7-126-201 Differences in rights and obligations of members
0.5K chars
(1) Unless otherwise provided by articles 121 to 137 of this title or the bylaws: (a) All voting members shall have the same rights and obligations with respect to voting and all other matters that articles 121 to 137 of this title specifically reserve to voting members; and (b) …
Colo. Rev. Stat. § 7-126-202 Transfers
0.5K chars
(1) Unless otherwise provided by the bylaws, no member of a nonprofit corporation may transfer a membership or any right arising therefrom. (2) Where transfer rights have been provided, no restriction on them shall be binding with respect to a member holding a membership issued p…
Colo. Rev. Stat. § 7-126-203 Creditor's action against member
0.4K chars
No proceeding may be brought by a creditor to reach the liability, if any, of a member to the nonprofit corporation unless final judgment has been rendered in favor of the creditor against the nonprofit corporation and execution has been returned unsatisfied in whole or in part o…
Colo. Rev. Stat. § 7-126-301 Resignation
0.4K chars
(1) Unless otherwise provided by the bylaws, a member may resign at any time. (2) The resignation of a member does not relieve the member from any obligations the member may have to the nonprofit corporation as a result of obligations incurred or commitments made prior to resigna…
Colo. Rev. Stat. § 7-126-302 Termination, expulsion, or suspension
1.9K chars
(1) Unless otherwise provided by the bylaws, no member of a nonprofit corporation may be expelled or suspended, and no membership or memberships in such nonprofit corporation may be terminated or suspended except pursuant to a procedure that is fair and reasonable and is carried …
Colo. Rev. Stat. § 7-126-303 Purchase of memberships
1.4K chars
Unless otherwise provided by the bylaws, a nonprofit corporation shall not purchase the membership of a member who resigns or whose membership is terminated. If so authorized, a nonprofit corporation may purchase the membership of a member who resigns or whose membership is termi…
Colo. Rev. Stat. § 7-126-304 Residential membership - return of consideration - cessation of periodic payments - time limits - effective date
1.3K chars
(1) Notwithstanding any provision of the articles of incorporation or bylaws to the contrary: (a) (I) A residential nonprofit corporation shall refund the entrance fee of a residential member to the member or his or her heirs within ninety days after a transfer of the residential…
Colo. Rev. Stat. § 7-126-401 Derivative suits
2.3K chars
(1) Without affecting the right of a member or director to bring a proceeding against a nonprofit corporation or its officers or directors, a proceeding may be brought in the right of a nonprofit corporation to procure a judgment in its favor by: (a) Any voting member or voting m…
Colo. Rev. Stat. § 7-126-501 Delegates
0.6K chars
(1) A nonprofit corporation may provide in its bylaws for delegates having some or all of the authority of members. (2) The bylaws may state provisions relating to: (a) The characteristics, qualifications, rights, limitations, and obligations of delegates, including their selecti…