HB 15-1071 Summary

• Amends Colorado Revised Statutes section 7-90-204 to explicitly clarify that attorney-client privileges transfer to the surviving entity when a merger occurs.

• Adds language specifying that all rights, privileges, powers, and property of merging entities—including attorney-client privilege—vest in the surviving entity as a matter of law.

• Makes clarifying edits to merger law language, changing "shall" to "are" and adding references to "sale of assets" in the list of actions a merger does not constitute.

• Takes effect September 1, 2015, unless a referendum petition is filed within 90 days after final adjournment, in which case it requires voter approval at the November 2016 general election.

• Applies retroactively to conduct occurring before, on, or after the effective date of the act.