Colo. Rev. Stat. § 11-103-602

Current through Acts effective through 6/7/2024 of the 2024 Legislative Session

Section 11-103-602 - Indemnification and personal liability of directors, officers, employees, and agents

A state bank has the same powers, rights, and obligations and is subject to the same limitations as apply to corporations for profit as set forth in article 109 of title 7. State bank directors, officers, employees, and agents have the same rights as directors, officers, employees, and agents, respectively, of corporations for profit as set forth in article 109 of title 7. State bank directors and officers 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 corporations for profit. Any reference in said sections to shareholders shall be construed to refer to stockholders for the purposes of this section.

C.R.S. § 11-103-602

Amended by 2019 Ch. 166,§ 69, eff. 7/1/2020.

L. 2003: Entire article added with relocations, p. 1095, § 3, effective July 1.

This section is similar to former § 11-3-121 as it existed prior to 2003.