Colorado § 22-30.5-702 - Definitions.

§ 22-30.5-702. Definitions.

As used in this part 7, unless the context otherwise requires:

(1) "Authorizer" means a school district board of education that authorizes a charter school pursuant to part 1 of this article or the state charter school institute established pursuant to section 22-30.5-503.

(2) "Charter management organization" means the Colorado operations of a for-profit or nonprofit entity, as determined under section 501 (c)(3) of the federal "Internal Revenue Code of 1986", that operates one or more charter schools.

(3) "Charter respondent" means a charter school or charter management organization that is the subject of a request for or an order granting emergency powers pursuant to this part 7.

(4) "Charter school" means a charter school as defined in section 22-30.5-103 (2) or an institute charter school as defined in section 22-30.5-502 (6).

(5) "Commissioner" means the office of the commissioner of education created and existing pursuant to section 1 of article IX of the state constitution.

(6) "Emergency" means a situation that:

(a) Presents a significant threat, as determined by the commissioner, to the health or safety of the students, staff, or other individuals involved with a charter school;

(b) Presents a significant threat, as determined by the commissioner, to substantial property rights of an authorizer or a significant risk, as determined by the commissioner, to a charter respondent's solvency;

(c) Indicates a substantial diversion, as determined by the commissioner, of charter school moneys through one or more excess benefit transactions; or

(d) Is defined by rule of the state board as one that justifies action pursuant to this part 7.

(7) "Excess benefit" means a financial benefit arising directly or indirectly from a transaction with a charter school that would be considered an excess benefit under section 4958 (c)(1) of the federal "Internal Revenue Code of 1986", as amended, and regulations adopted thereunder; except that the definition of excess benefit shall extend to all charter schools regardless of whether they have applied for or received nonprofit status under section 501 (c)(3) of the federal "Internal Revenue Code of 1986", as amended. The salaries of administrators in comparable positions at other Colorado charter schools, charter management organizations, boards of cooperative services, and school districts serving a reasonably comparable number of students shall serve as the comparison for determining whether the salaries of charter school or charter management organization administrators are reasonable or excessive for the purposes of this part 7.

(8) "Fiduciary" means a person who meets the requirements of the "Uniform Fiduciaries Law", part 1 of article 1 of title 15, C.R.S., and any other applicable law or rule.

(9) "Organic documents" means the articles of incorporation, articles of organization, constitution, bylaws, or other documents, however denominated, that define the basic governance structure for a charter school and the body or bodies that have governing authority for a charter school.

(10) "State board" means the state board of education created and existing pursuant to section 1 of article IX of the state constitution.

Source: L. 2010: Entire part added, (HB 10-1345), ch. 245, p. 1087, § 2, effective May 21.