(1) The bylaws may fix or provide the manner of fixing a future date as the record date for one or more voting groups in order to determine the shareholders entitled to be given notice of a shareholders' meeting, to demand a special meeting, to vote, or to take any other action, and if the bylaws do not fix or provide for fixing a record date, the board of directors may fix a future date as the record date; except that the record date for determining the shareholders entitled to take action without a meeting or entitled to be given notice of action so taken shall be determined as provided in section 7-107-104 (4).
(2) A record date fixed under this section shall not be more than seventy days before the meeting or action requiring a determination of shareholders.
(3) A determination of shareholders entitled to be given notice of or to vote at a shareholders' meeting is effective for any adjournment of the meeting unless the board of directors fixes a new record date, which it shall do if the meeting is adjourned to a date more than one hundred twenty days after the date fixed for the original meeting.
(4) If a court orders a meeting adjourned to a date more than one hundred twenty days after the date fixed for the original meeting, it may provide that the original record date continues in effect or it may fix a new record date.
Source: L. 93: Entire article added, p. 768, § 1, effective July 1, 1994.
ANNOTATION
Law reviews. For article, "1959 Amendments to the Colorado Corporation Code", see 36 Dicta 489 (1959).
Annotator's note. Since § 7-107-107 is similar to § 7-4-113 as it existed prior to the 1993 recodification of the "Colorado Business Corporation Act", articles 101 to 117 of title 7, cases construing that provision and its predecessors have been included in the annotations to this section.
Corporation elections cannot be stopped to settle questions of legal title, and it is important to the interests of the corporation that their elections should proceed under their own rules and with their own officers. Fehr v. Hadden, 134 Colo. 102, 300 P.2d 533 (1956) (decided under repealed § 31-2-7, CRS 53).