Colorado § 40-9.5-110.5 - Directors - required policies.
Full text of Colorado Colorado Revised Statutes § 40-9.5-110.5 — Directors - required policies., with citation guidance and answers to common questions.
§ 40-9.5-110.5. Directors - required policies.
(1) The board of each cooperative electric association shall adopt written policies concerning:
(a) The compensation provided to directors on the board of directors, including information on any authorized per diem amounts, and the value of any other benefits, services, or goods that directors receive;
(b) The requirements and procedures for a director on the board of directors to disclose in writing any conflicts of interest. At a minimum, an association's policy must require disclosure when a decision before the board could provide directly and as a proximate result of the decision a financial or other material benefit to:
(I) The director, if the benefit is unique to that director and not shared by similarly situated cooperative members;
(II) A parent, grandparent, spouse, partner in a civil union, child, or sibling of the director, if the benefit is unique to that person and not shared by similarly situated cooperative members; or
(III) An entity in which the director is an officer or director or has a financial interest unique to that director.
(2) (a) Subject to subsection (2)(b) of this section, a director on the board of directors shall at all times fulfill the director's duty of loyalty to the association and shall not allow a conflict of interest to impair the director's loyalty to the association.
(b) Notwithstanding any other law to the contrary, if an individual is a director on the board of directors of both a distribution cooperative electric association and a generation and transmission cooperative electric association, the director owes fiduciary duties to both associations and shall not be required to give priority to a fiduciary duty the director owes to one association over the duties the director owes to the other association.
Source: L. 2021: Entire section added, (HB 21-1131), ch. 65, p. 264, § 7, effective September 7.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 40-9.5-110.5
What does Colorado Revised Statutes § 40-9.5-110.5 cover?
Section 40-9.5-110.5 ("Directors - required policies.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 40-9.5-110.5?
A common citation format is "Colorado Revised Statutes § 40-9.5-110.5" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 40-9.5-110.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.