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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Any action to enforce the requirements of section 7-101-506(1), including any individual, derivative, or other type of action, may not be brought unless the parties bringing the action own, individually or collectively, as of the date of instituting the action, either:
(a) At least two percent of the corporation's outstanding shares; or
(b) In the case of a corporation with shares listed on a national securities exchange:
(I) Two percent of the corporation's outstanding shares; or
(II) Shares of the corporation with a market value of at least two million dollars.
(2) This section does not relieve the parties bringing an action described in subsection (1) of this section from complying with other conditions applicable to a derivative action, including any rules of the court in which the action is filed.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 7. Corporations and Associations § 7-101-508. Actions to enforce requirements of section 7-101-506(1) - last updated January 01, 2025 | https://codes.findlaw.com/co/title-7-corporations-and-associations/co-rev-st-sect-7-101-508/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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