Colo. Rev. Stat. § 7-106-203

Current through Chapter 509 of the 2022 Legislative Session
Section 7-106-203 - Liability of shareholders
(1) A purchaser from a corporation of shares issued by the corporation is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued under section 7-106-202 or stated in a subscription agreement under section 7-106-201.
(2) Unless otherwise provided in the articles of incorporation, a shareholder or a subscriber for shares of a corporation is not personally liable for the acts or debts of the corporation; except that such person may become personally liable by reason of the person's own acts or conduct.
(3) Any person becoming an assignee or transferee of shares or of a subscription for shares in good faith and without knowledge or notice that the full consideration therefor has not been paid shall not be personally liable to the corporation or its creditors for any unpaid portion of such consideration.

C.R.S. § 7-106-203

L. 93: Entire article added, p. 757, § 1, effective July 1, 1994. L. 2003: (1) amended, p. 2317, § 230, effective July 1, 2004.