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<br />person have been discharged or until applicable statutes,of <br />limitation pertaining thereto have expired. <br /> <br />(III) A combination of insurance and any of the <br />substitutes described in this paragraph (b). <br /> <br />SECTION 2. Article 42 of title 7, Colorado Revised <br />Statutes, as amended, is amended BY THE ADDITION OF A NEW <br />SECTION to read: <br /> <br />7-42-118. Liabilitv of stockholders, directors. and <br />officers. Stockholders, directors, and officers of <br />corporations formed under the provisions of this article shall <br />enjoy the same measure of immunity from liability for <br />corporate acts or omissions as ,stockholders, directors, and <br />officers of corporations formed under the "Colorado <br />Corporation Code", articles 1 to 10 of this title, or the <br />"Colorado Nonprofit Corporation Act", articles 20 to 29 oJ <br />'this title. <br /> <br />SECTION 3. 35-49-104, Colorado Revised Statutes, 19B4 <br />Repl. Vol., is amended to read:' <br /> <br />35-49-104. Statutes inaoplicable. The provisions of <br />sections 37-87-101 to 37-87-108 and 3T-ST-ii3 37-B7-114 to <br />37-87-115, C.R.S., shall not apply to stock water tanks of the <br />character defined in section 35-49-103. <br /> <br />SECTION 4. Reoeal. 31-87-113, <br />Statutes, as amended, is repealed. <br /> <br />Colorado <br /> <br />Revised <br /> <br />SECTION 5. Safety clause. The general <br /> <br />assemb ly hereby <br /> <br />PAGE 3-HOUSE BILL NO. 1185 <br />