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Current as of January 01, 2022 | Updated by FindLaw Staff
(1) Unless the articles or bylaws otherwise provide, a vacancy on the board of directors must be filled:
(a) Within a reasonable time by majority vote of the remaining directors, until the next annual members meeting or a special meeting of members is called to fill the vacancy; and
(b) For the balance of the unexpired term by members at the next annual members meeting or a special meeting of members called to fill the vacancy.
(2) Unless the articles or bylaws otherwise provide, if a vacating director was elected or appointed by a class of members or a district:
(a) The new director must be of that class or district; and
(b) The selection of the director for the unexpired term must be conducted in the same manner as would the selection for that position without a vacancy.
(3) If a member appointed a vacating director, the articles or bylaws may provide for that member to appoint a director to fill the vacancy.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 7. Corporations and Associations § 7-58-809. Vacancy on board - last updated January 01, 2022 | https://codes.findlaw.com/co/title-7-corporations-and-associations/co-rev-st-sect-7-58-809/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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