The Collaborative International Dictionary of English v.0.48:

Colony \Col"o*ny\ (k[o^]l"[-o]*n[y^]), n.; pl. Colonies
   (k[o^]l"[-o]*n[i^]z). [L. colonia, fr. colonus farmer, fr.
   colere to cultivate, dwell: cf. F. colonie. Cf. Culture.]
   1. A company of people transplanted from their mother country
      to a remote province or country, and remaining subject to
      the jurisdiction of the parent state; as, the British
      colonies in America.
      [1913 Webster]

            The first settlers of New England were the best of
            Englishmen, well educated, devout Christians, and
            zealous lovers of liberty. There was never a colony
            formed of better materials.           --Ames.
      [1913 Webster]

   2. The district or country colonized; a settlement.
      [1913 Webster]

   3. a territory subject to the ruling governmental authority
      of another country and not a part of the ruling country.
      [PJC]

   4. A company of persons from the same country sojourning in a
      foreign city or land; as, the American colony in Paris.
      [1913 Webster]

   5. (Nat. Hist.) A number of animals or plants living or
      growing together, beyond their usual range.
      [1913 Webster]

   6. (Bot.) A cell family or group of common origin, mostly of
      unicellular organisms, esp. among the lower alg[ae]. They
      may adhere in chains or groups, or be held together by a
      gelatinous envelope.
      [PJC]

   7. (Zool.) A cluster or aggregation of zooids of any compound
      animal, as in the corals, hydroids, certain tunicates,
      etc.
      [Webster 1913 Suppl.]

   8. (Zool.) A community of social insects, as ants, bees, etc.
      [Webster 1913 Suppl.]

   9. (Microbiology) a group of microorganisms originating as
      the descendents of one individual cell, growing on a
      gelled growth medium, as of gelatin or agar; especially,
      such a group that has grown to a sufficient number to be
      visible to the naked eye.
      [PJC]