Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu
HB20-1013

Specify Procedure Ratify Defective Corporate Actions

Concerning the specification of procedures for the ratification of defective corporate actions.
Session:
2020 Regular Session
Subject:
Financial Services & Commerce
Bill Summary

The act provides a statutory procedure for the ratification or validation of corporate actions that may not have been properly authorized and for shares that may not have been properly issued. The statutory ratification procedure supplements common-law ratification and is available only when the board of directors specifies the nature of the defective authorization. Prompt judicial review and validation of the ratification process is available when a listed person claims to be substantially and adversely affected by the ratification.


(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

Menu

Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    03/20/2020 Signed Act PDF
    03/14/2020 Final Act PDF
    03/03/2020 Rerevised PDF
    03/02/2020 Revised PDF
    02/12/2020 Reengrossed PDF
    02/10/2020 Engrossed PDF
    01/08/2020 Introduced PDF

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. M. Snyder
Sen. P. Lee

Sponsor

Co-sponsor

Rep. S. Bird, Rep. T. Exum, Rep. T. Kraft-Tharp, Rep. S. Woodrow
Sen. B. Gardner

COVID-19 Resources
2021 Ballot Information Booklet (Blue Book)
NORTH ENTRANCE IS CURRENTLY CLOSED.  TO ENTER THE CAPITOL, USE THE SOUTH ENTRANCE, UNDER THE STAIRS, AT 14th AVENUE AND SHERMAN STREET.