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.)