Colorado § 7-103-103 - Emergency powers.
Full text of Colorado Colorado Revised Statutes § 7-103-103 — Emergency powers., with citation guidance and answers to common questions.
§ 7-103-103. Emergency powers.
(1) In anticipation of or during an emergency defined in subsection (4) of this section, the board of directors may:
(a) Modify lines of succession to accommodate the incapacity of any director, officer, employee, or agent; and
(b) Relocate the principal office or additional offices or regional offices, or authorize the officers to do so.
(2) During an emergency as contemplated in subsection (4) of this section, unless emergency bylaws provide otherwise:
(a) Notice of a meeting of the board of directors need be given only to those directors whom it is practicable to reach and may be given in any practicable manner, including by publication or radio; and
(b) One or more officers of the corporation present at a meeting of the board of directors may be deemed to be directors for the meeting, in order of rank and within the same rank in order of seniority, as necessary to achieve a quorum.
(3) Corporate action taken in good faith during an emergency under this section to further the ordinary business affairs of the corporation:
(a) Binds the corporation; and
(b) May not be the basis for the imposition of liability on any director, officer, employee, or agent of the corporation on the ground that the action was not authorized corporate action.
(4) An emergency exists for purposes of this section if a quorum of the directors cannot readily be obtained because of some catastrophic event.
Source: L. 93: Entire article added, p. 747, § 1, effective July 1, 1994. L. 2003: (1)(b) amended, p. 2315, § 224, effective July 1, 2004.
Frequently Asked Questions About Colorado § 7-103-103
What does Colorado Revised Statutes § 7-103-103 cover?
Section 7-103-103 ("Emergency powers.") 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 § 7-103-103?
A common citation format is "Colorado Revised Statutes § 7-103-103" (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 § 7-103-103 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.