Incorrect answer:

As a majority shareholder, you are deemed to "be interested in" the transaction within the meaning of section 24-18-201, C.R.S. is NOT FALSE.

Because you hold 51% of the shares of AppMaker, you are a majority shareholder and are therefore "interested in" any contract entered into by AppMaker for purposes of section 24-18-201, C.R.S.

If the contract is awarded to the lowest responsible bidder based on a competitive bidding process it will not be a "contract" to which section 24-18-201, C.R.S., applies. So, if AppMaker is selected as the lowest responsible bidder, section 24-18-201, C.R.S. will not require you to disclose your financial interest in AppMaker or abstain from participating in the vote to award the contract. Nonetheless, because you will derive some financial benefit if AppMaker is awarded the contract, it may be advisable for you to disclose your interest before voting and/or to abstain from voting if, in your judgment, not doing so could create a perception that you have a conflict of interest.

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