Statutes, codes, and regulations
Colorado Revised Statutes
Title 7 - CORPORATIONS AND ASSOCIATIONSCORPORATIONS - CONTINUEDCOLORADO BUSINESS CORPORATIONSArticle 108 - DIRECTORS AND OFFICERS
Part 4 - STANDARDS OF CONDUCT
Section 7-108-403 - Limitation of certain liabilities of directors and officers

Colo. Rev. Stat. § 7-108-403

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Current through Chapter 123 of the 2024 Legislative Session
Section 7-108-403 - Limitation of certain liabilities of directors and officers

A director or officer is not personally liable for any injury to person or property arising out of a tort committed by an employee unless the director or officer was personally involved in the situation giving rise to the litigation or unless the director or officer committed a criminal offense in connection with the situation. The protection afforded in this section does not restrict other common-law protections and rights that a director or officer may have.

C.R.S. § 7-108-403

Renumbered from C.R.S. § 7-108-402(2) and amended by 2019 Ch. 166,§ 35, eff. 7/1/2020.
L. 2019: Entire part amended with relocations, (SB 19-086), ch. 1932, p. 1932, § 35, effective July 1, 2020.

This section is similar to former § 7-108-402 as it existed prior to 2020, and the former § 7-108-403 was relocated to § 7-108-405.