2021 Colorado Code
Title 7 - Corporations and Associations
Article 113 - Appraisal Rights
Part 2 - Procedure for Exercise of Appraisal Rights
§ 7-113-205. Payment

1. Except as provided in section 7-113-206, within thirty days after the date specified in section 7-113-203 (2)(b)(II), the corporation shall pay in cash to those shareholders who complied with section 7-113-204 (1) the amount the corporation estimates to be the fair value of their shares, plus interest.
2. The payment to each shareholder pursuant to subsection (1) of this section must be accompanied by:
   1. 1. The annual financial statements specified in section 7-116-105 of the corporation that issued the shares to be appraised, which statement must be as of a date ending not more than sixteen months before the date of payment; except that, if the annual financial statements are not reasonably available, the corporation shall provide reasonably equivalent financial information; and (a) (I) The annual financial statements specified in section 7-116-105 of the corporation that issued the shares to be appraised, which statement must be as of a date ending not more than sixteen months before the date of payment; except that, if the annual financial statements are not reasonably available, the corporation shall provide reasonably equivalent financial information; and
      2. The latest available quarterly financial statements of the corporation, if any;

   2. A statement of the corporation's estimate of the fair value of the shares, which estimate must equal or exceed the corporation's estimate given pursuant to section 7-113-203 (2)(b)(III); and
   3. A statement that shareholders described in subsection (1) of this section have the right to demand further payment under section 7-113-207 and that if any such shareholder does not do so within the period specified in section 7-113-207 (2), the shareholder shall be deemed to have accepted the payment in full satisfaction of the corporation's obligations under this article 113.

History. Source: L. 2019: Entire article R&RE,(SB 19-086), ch. 166, p. 1956, § 56, effective July 1, 2020.

This section is similar to former § 7-113-206 as it existed prior to July 1, 2020.

Law reviews. For article, “Dissenter's Rights in Colorado”, see 18 Colo. Law. 1101 (1989).