Colorado § 7-80-1211 - Fiduciary duties.
Full text of Colorado Colorado Revised Statutes § 7-80-1211 — Fiduciary duties., with citation guidance and answers to common questions.
§ 7-80-1211. Fiduciary duties.
(1) Except as otherwise provided in this section, the duties of members and managers of an artist company are governed by section 7-80-404.
(2) In addition to the duties specified in section 7-80-404, the articles of organization or operating agreement of an artist company may specify duties of members or managers with respect to the artistic mission of the artist company, including duties to:
(a) Preserve and promote the artistic mission of the artist company;
(b) Balance the artistic mission with the financial interests of the artist company and the pecuniary interests of the members; or
(c) Consult with or obtain approval from artist-members on decisions materially affecting the artistic direction or creative output of the artist company.
(3) The duties specified in subsections (1) and (2) of this section may be modified by the articles of organization or operating agreement of an artist company to the extent permitted by sections 7-80-108 and 7-80-204.
(4) For public benefit artist companies, the duties of members and managers are further specified in section 7-80-1216.
(5) The articles of organization may include elections allowing incorporators to accept the default duties described under this section or to modify specific duties as permitted by subsection (3) of this section.
Source: L. 2026: Entire part added, (SB 26-133), ch. 297, p. 1632, § 1, effective August 12.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-80-1211
What does Colorado Revised Statutes § 7-80-1211 cover?
Section 7-80-1211 ("Fiduciary duties.") 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 § 7-80-1211?
A common citation format is "Colorado Revised Statutes § 7-80-1211" (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 § 7-80-1211 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.