Jurisdictional Updates
Corporate Compliance
Revised Statutes
Effective August 9, House Bill 22-1250 repeals a provision exempting certain domestic entities from a provision allowing reinstatement of an entity after administrative dissolution upon compliance with certain conditions.
"7-90-203.1. Exchange of owner's interest. (1) One or more domestic entities may acquire all owners' OWNER'S interests of any other entity or all of one or more classes, series, or types, in exchange for owncrs' OWNER'S interests or other securities, obligations, rights to acquire owncrs' OWNER'S interests, or other securities, cash, property, or any combination pursuant to a plan of exchange complying with section 7-90-203.3 and approved pursuant to section 7-90-203.4."