Colorado § 7-117-103 - Saving provisions.

§ 7-117-103. Saving provisions.

(1) Except as provided in subsection (2) of this section, the repeal of any provision of the "Colorado Corporation Code", articles 1 to 10 of this title, does not affect:

(a) The operation of the statute, or any action taken under it, before its repeal;

(b) Any ratification, right, remedy, privilege, obligation, or liability acquired, accrued, or incurred under the provision before its repeal;

(c) Any violation of the provision, or any penalty, forfeiture, or punishment incurred because of the violation, before its repeal; or

(d) Any proceeding, reorganization, or dissolution commenced under the provision before its repeal, and the proceeding, reorganization, or dissolution may be completed in accordance with the provision as if it had not been repealed.

(2) If a penalty or punishment imposed for violation of any provision of the "Colorado Corporation Code", articles 1 to 10 of this title, is reduced by articles 101 to 117 of this title, the penalty or punishment, if not already imposed, shall be imposed in accordance with said articles 101 to 117.

Source: L. 93: Entire article added, p. 853, § 1, effective July 1, 1994.

ANNOTATION

Claim for statutory penalty for refusal to permit stockholders to inspect corporate records was properly dismissed. The Colorado Business Corporations Act no longer has such a penalty. Hill v. Behrmann, 911 P.2d 679 (Colo. App. 1995).