DOC - Colorado General Assembly

Colorado Revised Statutes 2019
TITLE 7

CORPORATIONS AND ASSOCIATIONS

CORPORATIONS

Colorado Corporation Code

Editor's note: (1) Articles 1 to 10 were numbered as articles 1 to
10 of chapter 31, C.R.S. 1963. For amendments to these articles prior to
their repeal in 1993, effective July 1, 1994, consult the Colorado
statutory research explanatory note and the table itemizing the replacement
volumes and supplements to the original volume of C.R.S. 1973 beginning on
page vii in the front of this volume. A comparative table showing the
relocation of subject matter to articles 101 to 117 as a result of the
recodification of the Colorado Corporation Code in 1993 is found in the
comparative tables located in the back of the index.
(2) Current provisions concerning the "Colorado Business Corporation
Act" are located in articles 101 to 117 of this title.

ARTICLE 1

Definitions and Application

7-1-101 to 7-1-108. (Repealed)

Editor's note: Section 7-1-108 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 2

Incorporation - Articles - Amendments

7-2-101 to 7-2-119. (Repealed)

Editor's note: Section 7-2-119 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 3

Corporate Powers and Limitations

7-3-101 to 7-3-119. (Repealed)
Editor's note: Section 7-3-119 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 4

Shareholders and Shares of Stock

7-4-101 to 7-4-126. (Repealed)

Editor's note: Section 7-4-126 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 5

Directors - Officers - Records

7-5-101 to 7-5-120. (Repealed)

Editor's note: Section 7-5-120 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 6

Stated Capital - Amount and Reduction

7-6-101 to 7-6-107. (Repealed)

Editor's note: Section 7-6-107 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 7

Merger or Consolidation

7-7-101 to 7-7-109. (Repealed)

Editor's note: Section 7-7-109 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 8

Dissolution - Voluntary and Involuntary

7-8-101 to 7-8-126. (Repealed)

Editor's note: Section 7-8-126 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 9

Foreign Corporations

7-9-101 to 7-9-120. (Repealed)

Editor's note: Section 7-9-120 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

ARTICLE 10

Reports, Fees, Licenses, Penalties

7-10-101 to 7-10-114. (Repealed)

Editor's note: Section 7-10-114 provided for the repeal of this
article, effective July 1, 1994. (See L. 93, p. 866.)

Nonprofit Corporations

Editor's note: (1) Articles 20 to 29 were numbered as article 24 of
chapter 31, C.R.S. 1963. For amendments to these articles prior to their
repeal in 1997, effective July 1, 1998, consult the Colorado statutory
research explanatory note and the table itemizing the replacement volumes
and supplements to the original volume of C.R.S. 1973 beginning on page vii
in the front of this volume.
(2) Current provisions concerning nonprofit corporations are located
in articles 121 to 137 of this title.

ARTICLE 20

Definitions and Application

7-20-101 to 7-20-109. (Repealed)

Editor's note: Section 7-20-109 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 21

Incorporation - Articles - Amendments

7-21-101 to 7-21-116. (Repealed)
Editor's note: Section 7-21-116 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 22

Corporate Powers and Limitations

7-22-101 to 7-22-110. (Repealed)

Editor's note: Section 7-22-110 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 23

Members

7-23-101 to 7-23-111. (Repealed)

Editor's note: Section 7-23-111 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 24

Directors - Officers - Records

7-24-101 to 7-24-113. (Repealed)

Editor's note: Section 7-24-113 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 25

Merger or Consolidation

7-25-101 to 7-25-108. (Repealed)

Editor's note: Section 7-25-108 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 26

Dissolution - Voluntary and Involuntary

7-26-101 to 7-26-123. (Repealed)

Editor's note: Section 7-26-123 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 27

Foreign Nonprofit Corporations

7-27-101 to 7-27-118. (Repealed)

Editor's note: Section 7-27-118 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 28

Reports - Fees

7-28-101 to 7-28-107. (Repealed)

Editor's note: Section 7-28-107 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 29

Secretary of State - Powers and Duties

7-29-101 to 7-29-109. (Repealed)

Editor's note: Section 7-29-109 provided for the repeal of this
article, effective July 1, 1998. (See L. 97, p. 645.)

ARTICLE 30

Uniform Unincorporated Nonprofit
Association Act

Editor's note: The governor signed S-94-168 which enacted this
article on May 22, 1994. Section 7-30-117 sets forth July 1, 1994, as the
date the article shall take effect.

Law reviews: For article, "Colorado Choice of Form of Organization
and Structure 2001", see 30 Colo. Law. 11 (Oct. 2001); for article "Entity
and Trade Name Registration: 2001 Update", see 30 Colo. Law. 81 (Oct.
2001); for article, "No Paper Required: Business Entity Legislation Makes
Life Easier for Business Lawyers", see 33 Colo. Law. 6 (June 2004); for
article, "Entity and Trade Name Registration: 2004 Update", see 34 Colo.
Law. 11 (Jan. 2005).

7-30-101. Definitions. In this article:
(1) "Member" means a person who, under the rules or practices of a
nonprofit association, may participate in the selection of persons
authorized to manage the affairs of the nonprofit association or in the
development of policy of the nonprofit association or who is considered to
be a member by such person and the nonprofit association.
(2) "Nonprofit association" means an unincorporated organization
consisting of two or more members joined by mutual consent for a common,
lawful, nonprofit purpose. However, joint tenancy or tenancy in common does
not by itself establish a nonprofit association, even if the co-owners
share use of the property for a nonprofit purpose. "Nonprofit association"
includes an acequia ditch association, whether or not the acequia ditch
association is formed as an acequia ditch association as contemplated by
section 7-42-101.5 (3) or is a ditch association operating as an acequia
ditch association as contemplated by section 7-42-101.5 (3).
(3) and (4) Repealed.

Source: L. 94: Entire article added, p. 1271, § 1, effective May 22.
L. 2003: (3)(b) and (4)(b) added by revision, pp. 2356, 2357, §§ 347, 348.
L. 2013: (2) amended, (HB 13-1168), ch. 87, p. 280, § 2, effective August
7.

Editor's note: Subsections (3)(b) and (4)(b) provided for the repeal
of subsections (3) and (4) respectively, effective July 1, 2004. (See L.
2003, pp. 2356, 2357.)

Cross references: For additional definitions applicable to this
article, see § 7-90-102.

7-30-101.1. Suspended, defunct, and dissolved nonprofit
corporations. Any nonprofit corporation other than a nonprofit corporation
that is governed by the "Colorado Revised Nonprofit Corporation Act",
articles 121 to 137 of this title, that was suspended, declared defunct,
administratively dissolved, or dissolved by operation of law, and the
business or affairs of which are continued for nonprofit purposes, with or
without knowledge of the suspension, declaration, or dissolution, and the
business and affairs of which are not wound up, shall be deemed an
unincorporated organization that qualifies as a nonprofit association for
purposes of sections 7-30-101.2 and 7-30-106, unless such nonprofit
corporation is reinstated as provided in part 10 of article 90 of this
title.

Source: L. 97: Entire section added, p. 645, § 2, effective July 1,
1998. L. 2006: Entire section amended, p. 848, § 1, effective July 1.

7-30-101.2. Charitable nonprofit corporations - private foundations.
(1) As used in this section, "charitable purposes" means one or more
charitable purposes enumerated in section 501(c)(3) of the federal
"Internal Revenue Code of 1986", as amended, hereinafter referred to as
"the internal revenue code" and formed exclusively for one or more
charitable purposes.
(2) In the case of a deemed unincorporated organization, its
articles of incorporation shall be presumed to be its principal governing
document for the purposes of this section.
(3) Except as otherwise provided in its constitution, articles of
association, or other principal governing document, the purposes of a
charitable nonprofit association and the disposition of its assets upon
liquidation shall be limited to charitable purposes.
(4) Except as otherwise expressly provided in its constitution,
articles of association, or a principal governing document, or othe