On May 9, 2019, the Colorado General Assembly passed Senate Bill (SB) 19-086, “Concerning Updates to the Laws Governing Business Entities,” which Governor Polis signed into law on May 13. SB 19-086 updates, corrects, and makes other changes to the Colorado Business Corporation Act (CBCA) and the Colorado Corporations and Associations Act (CCAA). This article summarizes the most significant and noteworthy changes, including those relating to directors’ fiduciary duties, forum selection clauses, and conflicting interest transactions.
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