HB 22-1250

House Bill 22-1250, which has been signed into law in Colorado, makes technical adjustments to the state’s business laws. It corrects grammatical issues by changing "owners' interest" to "owner's interest," removes an exemption for certain businesses from a rule about reinstating dissolved entities under specific conditions, and clarifies how companies must notify shareholders when correcting past mistakes. This bill affects corporations and associations in Colorado and ensures their legal framework is clear and consistent. Since the bill has been signed, these changes are now part of Colorado’s law and affect all relevant business entities operating within the state.

Official Summary

The act makes technical changes to the "Colorado Corporations and Associations Act" and the "Colorado Business Corporation Act" as follows: Changes references to "owners' interest" to "owner's interest"; Repeals a provision exempting certain domestic entities from a provision allowing reinstatement of an entity after an administrative dissolution upon compliance with certain conditions; and Makes clarifying changes to the provision requiring notification of ratification of defective corporate actions to holders of valid and putative shares.(Note: This summary applies to this bill as enacted.)

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