Colorado § 7-55-107.5 - Indemnification and personal liability of directors, officers, employees, and agents.
Full text of Colorado Colorado Revised Statutes § 7-55-107.5 — Indemnification and personal liability of directors, officers, employees, and agents., with citation guidance and answers to common questions.
§ 7-55-107.5. Indemnification and personal liability of directors, officers, employees, and agents.
The association shall have the same powers, rights, and obligations and shall be subject to the same limitations as apply to domestic corporations as set forth in article 109 of this title 7. Association directors, officers, employees, and agents shall have the same rights as directors, officers, employees, and agents, respectively, of domestic corporations as set forth in article 109 of this title 7. Association directors and officers shall have the benefit of the same limitations on personal liability for any injury to person or property arising out of a tort as set forth in section 7-108-403 for directors and officers, respectively, of domestic corporations. Any reference in said sections to shareholders shall be construed to refer to voting members or voting stockholders, if any, for the purpose of this section.
Source: L. 87: Entire section added, p. 371, § 14, effective May 20. L. 93: Entire section amended, p. 857, § 16, effective July 1, 1994. L. 2003: Entire section amended, p. 2216, § 55, effective July 1, 2004. L. 2019: Entire section amended, (SB 19-086), ch. 166, p. 1964, § 63, effective July 1, 2020.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-55-107.5
What does Colorado Revised Statutes § 7-55-107.5 cover?
Section 7-55-107.5 ("Indemnification and personal liability of directors, officers, employees, and agents.") 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 § 7-55-107.5?
A common citation format is "Colorado Revised Statutes § 7-55-107.5" (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 § 7-55-107.5 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.