C.R.S. Section 7-106-302
Corporation’s acquisition of its own shares

(1)

A corporation may acquire its own shares, and, except as provided by section 7-117-101 (6), shares so acquired constitute authorized but unissued shares.

(2)

If the articles of incorporation prohibit the reissuance of acquired shares:

(a)

The number of authorized shares is reduced by the number of shares acquired by the corporation, effective upon amendment to the articles of incorporation; and

(b)

The corporation shall deliver to the secretary of state, for filing pursuant to part 3 of article 90 of this title, articles of amendment to the articles of incorporation, which are effective without shareholder action, that state:

(I)

The domestic entity name of the corporation;

(II)

The reduction in the number of authorized shares, itemized by class and series; and

(III)

The total number of authorized shares, itemized by class and series, remaining after reduction of the shares.

Source: Section 7-106-302 — Corporation’s acquisition of its own shares, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-07.­pdf (accessed Oct. 20, 2023).

Green check means up to date. Up to date

Current through Fall 2024

§ 7-106-302’s source at colorado​.gov