748 Professions and Occupations Ch. 180
an architect, licensed in the state of Colorado, who is an officer of the corporation,
a member of the limited liability company, or a partner in the registered limited
liability partnership;
(b) Such architect remains individually responsible to the board and the public
for his or her professional acts and conduct; AND
(c) All architectural plans, designs, drawings, specifications, or reports that are
involved in such practice, issued by or for such entity, bear the seal and signature
of an architect in responsible control of, and directly responsible for, such
architectural work when issued. and
(d) (I) The articles of incorporation, operating agreement, or partnership
agreement, as the case may be, of such entity provide and all shareholders,
members, or partners of the entity agree that all shareholders, members, or partners
of the entity are liable for all acts, errors, and omissions of the employees, members,
and partners of the entity except during periods of time when the entity maintains
in good standing professional liability insurance which meets the following
minimum standards:
(A) The policy insures the entity against liability imposed upon it by law for
damages arising out of the negligent acts, errors, and omissions of all professional
and nonprofessional employees, members, and partners; and
(B) The insurance is in a policy amount of at least seventy-five thousand dollars
multiplied by the number of architects, up to a maximum of five hundred thousand
dollars, or, if practicing with an entity composed of architects and professional
engineers, by the number of architects and engineers, up to a maximum of five
hundred thousand dollars.
(II) In addition, the policy may include:
(A) A provision that it shall not apply to: Any dishonest, fraudulent, criminal, or
malicious act or omission of the insured entity or any stockholder, employee,
member, or partner thereof; and the conduct of any business enterprise (as
distinguished from the practice of architecture) engaged in by the insured entity or
in which the insured entity may be a partner or which may be controlled, operated,
or managed by the insured entity in its own or in a fiduciary capacity, including the
ownership, maintenance, or use of any property in connection therewith, any bodily
injury to, or sickness, disease, or death of, any person, or any injury to or destruction
of any tangible property, including the loss of use thereof;
(B) Any other reasonable provisions with respect to policy periods, territory,
claims, conditions, and other usual matters.
(4) (a) Nothing in this article PART 3 shall be construed as prohibiting THE
FORMATION OF a corporation, limited liability company, registered limited liability
partnership, joint venture, partnership, or association between CONSISTING OF one
or several architects or corporations meeting the requirements of subsection (2) (3)
of this section and one or several professional engineers, all duly licensed or
registered under the respective provisions of the applicable laws of this state.