Colorado § 7-106-302 Corporation's acquisition of its own shares

Colorado Statutes

§ 7-106-302 — Corporation's acquisition of its own shares

Colorado § 7-106-302

Title 07Corporations

Art.Shares and Distributions

This text of Colorado § 7-106-302 (Corporation's acquisition of its own shares) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-106-302 (2026).

Text

(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 t

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(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.

Legislative History

Source: L. 93: Entire article added, p. 762, � 1, effective July 1, 1994. L. 2002: IP(2)(b) amended, p. 1847, � 109, effective July 1; IP(2)(b) amended, p. 1712, � 109, effective October 1. L. 2003: IP(2)(b) and (2)(b)(I) amended, p. 2317, � 233, effective July 1, 2004.