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Amendment 53:
Criminal Accountability for Business and Nonprofit Executives






Summary

Amendment 53 was intended to be a deterrent to stop big business executives from reckless and illegal activity by imposing fines and imprisonment. However, because of its vague language, this measure would make nonprofit directors, officers and executive staff criminally liable for knowing or being in a position to know about criminal conduct by the organization even if they were not directly involved.

According to the Colorado Nonprofit Association, generally, indemnification in organizational bylaws, and directors’/officers’ insurance does not protect executive officials from personal acts of negligence or other criminal misconduct. The additional accountability proposed in Amendment 53 is unnecessary.




Position:  Vote NO
Provided by: Legislative Council of the Colorado General Assembly
Amendment 53 proposes amending the Colorado statutes to:

  • hold business executive directors, officers and executive staff criminally responsible for the business's failure to perform a duty required by law if the official knew of the duty and the business's  failure to perform it.



Amendment 53 would serve as a huge disincentive for community leaders seeking to serve as directors or board members of a nonprofit.

State and federal laws already hold business and nonprofit executives accountable. Currently, executives can be prosecuted under Colorado law for their own criminal conduct on behalf of their business or nonprofit. Recent federal laws have strengthened criminal and civil penalties for those who commit fraud. The current laws are sufficient to address corporate and nonprofit wrongdoing.





RMFC position:
VOTE XX
Vote NO
RMFC position:
Vote NO