Articles.

  1. Law
  2. Colorado Revised Statutes
  3. Corporations And Associations
  4. Uniform Limited Cooperative Association Act
  5. Articles.

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(1) The articles shall state:

  1. The domestic entity name of the limited cooperative association;

  2. The purposes for which the limited cooperative association is formed, which may befor any lawful purpose;

  3. The registered agent name and registered agent address of the association's initialregistered agent;

  4. The street address and, if different, mailing address of the association's initial principal office; and

  5. The true name and street address and, if different, mailing address of each organizer.

  1. The articles may contain any other provisions in addition to those required by subsection (1) of this section, including any matters referred to in subsection (3) of this section, section 7-58-305 (1), or section 7-58-305 (3).

  2. The matters referred to in this subsection (3) may be varied only in the articles. Thearticles may:

  1. State a term of duration, less than perpetual, of the limited cooperative associationunder section 7-58-106 (1);

  2. Limit or eliminate the acceptance of new or additional members by the initial boardof directors under section 7-58-304 (2);

  3. Vary the percentage of votes required for members to approve an amendment to thearticles under section 7-58-405;

  4. Vary the limitations on the obligations and liability of members for association obligations under section 7-58-504;

  5. Require a notice of an annual members meeting to state a purpose of the meetingunder section 7-58-508 (2);

  6. Provide for less than unanimous consent to action by members without a membersmeeting under section 7-58-516 (1)(a);

  7. Vary the matters the board of directors may consider in making a decision undersection 7-58-820;

  8. Specify causes of dissolution under section 7-58-1202 (1);

  9. Delegate amendment of the bylaws to the board of directors pursuant to section 7-58-

405 (6);

  1. Provide for member approval of asset dispositions under section 7-58-1501;

  2. Subject to section 7-58-820, provide for the elimination or limitation of liability of adirector to the association or its members for money damages pursuant to section 7-58-818; and (l) Provide for permitting or requiring indemnification under section 7-58-901 (1).

Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 769, § 1, effective April 2, 2012.


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