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2021 Colorado Code
Title 7 - Corporations and Associations
Article 129 - Indemnification
§ 7-129-103. Mandatory Indemnification of Directors
Universal Citation: CO Code § 7-129-103 (2021)
Unless limited by its articles of incorporation, a nonprofit corporation shall indemnify a person who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the person was a party because the person is or was a director, against reasonable expenses incurred by the person in connection with the proceeding.
History. Source: L. 97: Entire article added, p. 703, § 3, effective July 1, 1998.
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