(1.5) If shares are entitled to be voted cumulatively in the election of directors, shareholders may take action under this section to elect or remove directors only if:
(5.5) If action is taken under subsection (1) of this section with less than unanimous consent of all shareholders entitled to vote upon the action, the corporation or shareholders taking the action shall, upon receipt by the corporation of all documents necessary to effect the action, give notice of the action to all shareholders who were entitled to vote upon the action but who have not consented to the action in the manner provided in subsection (1) of this section. The notice must contain or be accompanied by the same material, if any, that would have been required under articles 101 to 117 of this title 7 to be given to shareholders in or with a notice of the meeting at which the action would have been submitted to the shareholders.
Source: L. 93: Entire article added, p. 766, § 1, effective July 1, 1994. L. 96: (2), (3), and (6) amended, p. 1316, § 18, effective June 1. L. 2003: (2) and (7) amended, p. 2318, § 235, effective July 1, 2004. L. 2005: (1), (2), (3), (4), and (7) amended and (1.5) and (5.5) added, p. 369, § 1, effective April 22. L. 2021: (2), (3), (4), (5.5), and (7) amended, (HB 21-1124), ch. 41, p. 165, § 11, effective April 19.
Editor's note: Section 32 of chapter 41 (HB 21-1124), Session Laws of Colorado 2021, provides that the act changing this section applies to conduct occurring on or after April 19, 2021.