Colo. Rev. Stat. » Title 7
Colorado Revised Statutes

Colo. Rev. Stat. § 7-42-105 (2024)

Right to purchase own stock

✓ C.R.S. 2024: the 2025 and 2026 sessions are not included
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(1) It is lawful for any corporation owning any ditch or canal for conveying or reservoir for storing water for irrigation purposes for its stockholders to purchase and acquire any of its outstanding capital stock, but no purchase of or payment for its own shares shall be made at a time when the purchase or payment would make it insolvent.

(2) Any sale, exchange, lease, or other disposition of any part or all of the business, assets, property, or franchise of any such corporation to any conservancy district, irrigation district, or to the United States or any agency of the United States shall be deemed to be in the usual course of the corporation's business.

Source: L. 21: p. 212, § 1. C.L. § 2357. CSA: C. 41, § 145. CRS 53: § 31-14-5. C.R.S. 1963: § 31-14-5. L. 67: p. 312, § 1.

Notes of Decisions
Cited in 1 case, 1989–1989 · leading case: City of Westminster v. City of Broomfield, 769 P.2d 490 (Colo. 1989).
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City of Westminster v. City of Broomfield, 769 P.2d 490 (Colo. 1989). · cites it 2× “§ 7-42-105(1). These provisions do not impose or imply any special obligation upon ditch companies to offer stock shares or other assets to non-shareholders in any particular matter.”
Colo. Rev. Stat. § 7-42-105(1): 1 case
City of Westminster v. City of Broomfield, 769 P.2d 490 (Colo. 1989). “§ 7-42-105(1). These provisions do not impose or imply any special obligation upon ditch companies to offer stock shares or other assets to non-shareholders in any particular matter.”
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