Conflicting interest transaction
- Statute:
- Colorado §7-128-501 · Part NP (Colorado Revised Nonprofit Corporation Act)
- Topic:
- Board Duties · Conflicts
- Applies to:
- Nonprofit associations
A conflicting-interest transaction is not voidable solely because a director is interested if it is fair to the corporation, or is approved by disinterested directors or members after disclosure, as this section provides. CCIOA §38-33.3-310.5 and the association's conflict policy under §209.5 also apply.
📄 Read the official text at leg.colorado.gov →
How SoShiny helps with Conflicting interest transaction
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does Colorado §7-128-501 require?
- A conflicting-interest transaction is not voidable solely because a director is interested if it is fair to the corporation, or is approved by disinterested directors or members after disclosure, as this section provides. CCIOA §38-33.3-310.5 and the association's conflict policy under §209.5 also apply.
- Who does Colorado §7-128-501 apply to?
- Colorado §7-128-501 applies to Nonprofit associations in Colorado.
- What happens if our nonprofit corporation doesn't comply with §7-128-501?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Colorado community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Colorado §7-128-501?
- The official text is published by the Colorado General Assembly at leg.colorado.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Conflicting interest transaction?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of Colorado §7-128-501 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Colorado-licensed attorney. For the official statutory text, see the link above.
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