C.R.S. § 40-20-101

(1) Any number of persons, not less than five, may associate to form a company for the purpose of constructing and operating a railroad. (2) The certificate of incorporation, in addition to the matter otherwise required, shall specify as follows: (a) The places from and to which it is intended to construct the proposed railway; (b) The time of the commencement and the period of the continuance of such proposed corporation; (c) The names and places of residence of the several persons forming the association for incorporation; and (d) In what officers or persons the government of the proposed corporation and the management of its affairs shall be vested.