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Is there a minimum age for being a member of a corporate ...

Sent to Legal Experts November 6 2006 at 1:20 AM
   

In Colorado is there a minimum age for being a member of a nonprofit corporate board of directors?

Edited by Customer (name blocked for privacy) on November 6 2006 at 1:24 AM

 

Optional Information:
Colorado

Already Tried:
Revised Colorado Statutes

Customer (name blocked for privacy)
Answer
November 6 2006 at 5:15 PM (15 hours and 54 minutes and 32 seconds later)
         
REPLIEDCheck Mark
18. All that is required is to be an adult.


Attorneys are limited to offering specific legal advice in states where they are licensed. Online responses offered here are ADVISORY OPINIONS only and should NOT be considered specific legal advice! Consult a local attorney for specific advice.
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November 7 2006 at 4:34 AM (11 hours and 18 minutes and 45 seconds later)
         
Reply to LegalEagle, LLC's Post: Can you please provide the citation from which you drew your conclusion; this is most important to the group I am working with.
Thanks.
Answer
November 7 2006 at 5:18 AM (44 minutes and 27 seconds later)
         
REPLIEDCheck Mark

A full review of the Colorado Statutes supported my conclusion. The statutes do not specify a minimium age and therefore the only requirement would be the same as for any other legal transaction. Here's the qualification statute:

7-128-102. Qualifications of directors.

Statute text

A director shall be an individual. The bylaws may prescribe other qualifications for directors. A director need not be a resident of this state or a member of the nonprofit corporation unless the bylaws so prescribe.

History

Source: L. 97: Entire article added, p. 688, § 3, effective July 1, 1998. L. 2004: Entire section amended, p. 1510, § 295, effective July 1; entire section amended, p. 342, § 1, effective August 4.




Attorneys are limited to offering specific legal advice in states where they are licensed. Online responses offered here are ADVISORY OPINIONS only and should NOT be considered specific legal advice! Consult a local attorney for specific advice.
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November 7 2006 at 12:04 PM (6 hours and 45 minutes and 29 seconds later)
         
Reply to LegalEagle, LLC's Post: I saw that in the statute but then the issue is definition of "individual". I cannot find anything the defines this term. ?????
Answer
November 7 2006 at 3:19 PM (3 hours and 15 minutes and 35 seconds later)
         
ACCEPTEDCheck Mark
There is no statute that precisely spells out what you are looking for. You have to look at the law as a whole. First, in order to be legally bound by any decision, a person must be an adult. That is true in all areas of the law. That's why juveniles are treated differently in the criminal justice system and cannot be held liable for any debts that incur until age 18. An "individual" is defined in numerous ways under the law depending on the area of the law. But universally, any person qualifies as an individual. While one could then argue why wouldn't a minor be considered a person. Again, looking at the law as a whole, how could a minor bind a corporation as a director when they own decisions are not binding. In most other areas of the law, corporations, LLC's and other business entities are considered "persons" or "individuals" under the law. But the common sense application to the non-for-profit setting suggests a corporation as a Board member makes very little sense and therefore a more narrower interpretation of the word individual would be appropriate.


Attorneys are limited to offering specific legal advice in states where they are licensed. Online responses offered here are ADVISORY OPINIONS only and should NOT be considered specific legal advice! Consult a local attorney for specific advice.
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