{"data":{"id":"us-co/c.r.s.-7-80-1211","jurisdiction":"us-co","citation":"C.R.S. § 7-80-1211","heading":"Fiduciary duties.","body":"(1) Except as otherwise provided in this section, the duties of members and managers of an artist company are governed by section 7-80-404.\n\n(2) In addition to the duties specified in section 7-80-404, the articles of organization or operating agreement of an artist company may specify duties of members or managers with respect to the artistic mission of the artist company, including duties to:\n\n(a) Preserve and promote the artistic mission of the artist company;\n\n(b) Balance the artistic mission with the financial interests of the artist company and the pecuniary interests of the members; or\n\n(c) Consult with or obtain approval from artist-members on decisions materially affecting the artistic direction or creative output of the artist company.\n\n(3) The duties specified in subsections (1) and (2) of this section may be modified by the articles of organization or operating agreement of an artist company to the extent permitted by sections 7-80-108 and 7-80-204.\n\n(4) For public benefit artist companies, the duties of members and managers are further specified in section 7-80-1216.\n\n(5) The articles of organization may include elections allowing incorporators to accept the default duties described under this section or to modify specific duties as permitted by subsection (3) of this section.","path":["Title 7 - CORPORATIONS AND ASSOCIATIONS","Article 80 - Limited Liability Companies","Part 12 - COLORADO ARTIST COMPANY ACT"],"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":"91437c9ad8e357c25428a03e3249f91c1720f92b9b81b9427b4bf2f297695acc","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-7-80-1210","next":"us-co/c.r.s.-7-80-1212"},"notice":"GroundRules: Original legal text. Not legal advice."}