C.R.S.
Section 7-63-108
Reference to corporation law
(1)
In a case in which a party seeks to hold the members of an association personally responsible for the alleged improper actions of the association, the court shall apply the case law that interprets the conditions and circumstances under which the corporate veil of a corporation may be pierced under the law of this state.(2)
For purposes of subsection (1) of this section, the failure of an association to observe the formalities or requirements relating to the management of the association’s business and affairs is not in itself a ground for imposing personal liability on the members for the liabilities of the association.(3)
Except as otherwise provided in this article, article 90 of this title and, to the extent not addressed in said article 90, the law of this state applicable to a corporation formed under the “Colorado Business Corporation Act”, articles 101 to 117 of this title, apply to an association with respect to the following matters:(a)
The filing by the secretary of state of articles for the formation or dissolution of an association, periodic reports concerning an association, change of principal office, change of registered agent or registered agent address, and other documents including withdrawal and restatement of, amendments to, and statements with respect to any articles, periodic reports, and other documents;(b)
Certification of documents and facts of record and provision of other information and services by the secretary of state;(c)
The effect of approving documents to be filed by the secretary of state, the effective date and effect of any filing by or certification of documents or facts by the secretary of state, and the effect and effective date of any filing or recording of a document with a clerk and recorder;(d)
The penalties payable to the secretary of state and other civil and criminal penalties with respect to documents permitted or required to be delivered to the secretary of state for filing pursuant to part 3 of article 90 of this title;(g)
The judicial dissolution of an association; and(h)
The election to reject worker’s compensation coverage under section 8-41-202, C.R.S., and, for this purpose, the term “corporate officer” as used in said section includes any manager who owns at least a ten percent interest in the association.(4)
Service of process may also be made on any manager, the chairperson or secretary of the association, or any agent of the association appointed for that purpose.(5)
The prohibition against and the penalties and liabilities imposed upon persons doing business as a corporation without authority under the “Colorado Business Corporation Act”, articles 101 to 117 of this title, shall apply to persons doing business in this state as an association without authority under this article or in this state as a limited partnership association, formed under the law of another jurisdiction, without authority as provided in subsection (6) of this section.(6)
The provisions of part 8 of article 90 of this title shall apply with respect to a limited partnership association formed under the law of a jurisdiction other than this state.
Source:
Section 7-63-108 — Reference to corporation law, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-07.pdf (accessed Oct. 20, 2023).
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