{"data":{"id":"us-co/c.r.s.-7-129-109","jurisdiction":"us-co","citation":"C.R.S. § 7-129-109","heading":"Limitation of indemnification of directors.","body":"(1) A provision treating a nonprofit corporation's indemnification of, or advance of expenses to, directors that is contained in its articles of incorporation or bylaws, in a resolution of its members or board of directors, or in a contract, except an insurance policy, or otherwise, is valid only to the extent the provision is not inconsistent with sections 7-129-101 to 7-129-108. If the articles of incorporation limit indemnification or advance of expenses, indemnification and advance of expenses are valid only to the extent not inconsistent with the articles of incorporation.\n\n(2) Sections 7-129-101 to 7-129-108 do not limit a nonprofit corporation's power to pay or reimburse expenses incurred by a director in connection with an appearance as a witness in a proceeding at a time when the director has not been made a named defendant or respondent in the proceeding.","path":["Title 7 - CORPORATIONS AND ASSOCIATIONS","Article 129 - Indemnification"],"source_url":"https://olls.info/crs/crs2026-title-07.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"7fdf124927a908f008ba65452a9118f4bdddb71f6d22b2c8d433d01c28e83cf9","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-7-129-108","next":"us-co/c.r.s.-7-129-110"},"notice":"GroundRules: Original legal text. Not legal advice."}