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2020 Colorado Revised Statutes
Title 7 - Corporations And Associations
Article 55. Cooperatives - General
Section 7-55-104. Board of directors.
Universal Citation: CO Rev Stat § 7-55-104 (2020)
The board of directors of a cooperative association shall be stockholders or members of such association or the representatives duly authorized in writing of a legal entity which is a stockholder or member of said cooperative association; except that the articles of incorporation and bylaws may permit the election of any number of directors, less than a majority, who are not stockholders or members, to be elected as stated in the bylaws.
Source: L. 73: R&RE, p. 430, § 1. C.R.S. 1963: § 30-1-4.
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