reglab/housing_qa huggingface dataset:
CO Code § 11-42-122 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 42 - Shares and Stock|§ 11-42-122. Limitation on Withdrawals

  If an association has on file more withdrawal requests than can be met in full from current funds, the association shall apply to such withdrawals one-half of the monthly receipts, after first deducting the amount necessary to pay the actual and reasonable expenses incurred in the operation of the association and the protection of its assets and reserves set up by it for cash dividends on its shares; except that, should such one-half fail to retire at least five percent of the aggregate withdrawal requests, such portion of the other one-half shall be applied as shall be necessary to retire five percent of the total amount on withdrawal.    “Receipts”, as used in this section, means all funds coming into the hands of the association except borrowed money.     History. Source: L. 33: P. 322, § 6. CSA: C. 25, § 32. CRS 53: § 122-3-22. C.R.S. 1963: § 122-3-22. History. Source: L. 33: P. 322, § 6. CSA: C. 25, § 32. CRS 53: § 122-3-22. C.R.S. 1963: § 122-3-22.    Editor's note:   The provisions within this section were renumbered on revision in 1998 to conform to statutory numbering format.   ANNOTATION   Annotator's note. Cases relevant to § 11-42-122 , which were decided prior to its earliest source, L. 33, p. 322 , § 6, have been included in the annotations to this section.   Withdrawals are payable in the order filed and, under the limitations of this section, a late comer may be refused payment for the time being. Hawley v. North Side Bldg. & Loan Ass'n, 11 Colo. App. 93, 52 P. 408 (1898).   Members have no priority. Certificates providing that the holder is a member of the association can have no priority in withdrawals. Exch. Nat'l Bank v. Receivers of City Sav. Bldg. & Loan Ass'n, 95 Colo. 498 , 37 P.2d 394 (1934).   Offer to pay less than sum due constitutes refusal to pay and authorizes suit. Under this section, an offer by a building and loan association to pay to a withdrawing member a lesser sum than he is legally entitled to at the time his notice of withdrawal is complete is such a refusal to pay the sum actually owing, as would authorize the institution of a suit to compel payment. Enter. Bldg. & Loan Soc'y v. Bolin, 12 Colo. App. 304, 55 P. 740 (1898).   Section inapplicable to payment of a certificate of deposit. Dollar Bldg. & Loan Ass'n v. Shields, 93 Colo. 480 , 27 P.2d 485 (1933).
CO Code § 11-42-123 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 42 - Shares and Stock|§ 11-42-123. Matured Shares

 If, at the time shares in a savings and loan association have matured, the association has withdrawal notices on file to such an extent that the funds of the association, applicable to withdrawals, are not sufficient to pay off all shareholders desiring to withdraw, as well as shares which have matured and are unpaid, and the holder of the matured shares desires to withdraw, he shall file a notice of intention to withdraw and thereafter be subject to all the rights and liabilities of articles 40 to 46 of this title governing withdrawing shareholders; except that he shall be entitled to the full amount of any dividends declared on like shares during the time he has a withdrawal notice on file on same.   History. Source: L. 33: P. 323, § 7. CSA: C. 25, § 33. CRS 53: § 122-3-23. C.R.S. 1963: § 122-3-23. History. Source: L. 33: P. 323, § 7. CSA: C. 25, § 33. CRS 53: § 122-3-23. C.R.S. 1963: § 122-3-23.
CO Code § 11-42-124 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 42 - Shares and Stock|§ 11-42-124. Applicable to Previously Issued Certificates

 All stock or shares or certificates or instruments of whatsoever kind issued by savings and loan associations prior to June 8, 1933, evidencing savings in said associations by the holders thereof, except permanent or nonwithdrawable stock, shall be subject to all the rights and all the liabilities of articles 40 to 46 of this title, and such holders shall be treated as shareholders.   History. Source: L. 33: P. 323, § 8. CSA: C. 25, § 34. CRS 53: § 122-3-24. C.R.S. 1963: § 122-3-24. History. Source: L. 33: P. 323, § 8. CSA: C. 25, § 34. CRS 53: § 122-3-24. C.R.S. 1963: § 122-3-24.
CO Code § 11-43-101 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 43 - Foreign Savings and Loan Associations|§ 11-43-101. Restrictions on Foreign Associations

 No foreign savings and loan association which conducts a savings and loan business as defined in section 11-40-103 shall operate an office in this state in order to sell its shares or accounts or make new loans in this state. Violation of this section is a class 2 misdemeanor which shall subject the offender and its officers, agents, and representatives, upon conviction thereof, to the penalties which are authorized in section 18-1.3-501 (1) , C.R.S., and each separate business transaction in violation of this section shall constitute a separate offense; but nothing in this section shall be construed to prohibit a foreign association from transacting business in respect to executory contracts in force on May 17, 1939.   History. Source: L. 33: P. 324, § 1. CSA: C. 25, § 35. L. 39: P. 242, § 15. CRS 53: § 122-4-1. C.R.S. 1963: § 122-4-1. L. 88: Entire section amended, p. 455, § 2, effective March 18. L. 2002: Entire section amended, p. 1471, § 40, effective October 1. History. Source: L. 33: P. 324, § 1. CSA: C. 25, § 35. L. 39: P. 242, § 15. CRS 53: § 122-4-1. C.R.S. 1963: § 122-4-1. L. 88: Entire section amended, p. 455, § 2, effective March 18. L. 2002: Entire section amended, p. 1471, § 40, effective October 1.    Cross references:   For the legislative declaration contained in the 2002 act amending this section, see section 1 of chapter 318, Session Laws of Colorado 2002.   ANNOTATION   Law reviews. For article, “Foreign Savings and Loan Associations Not Doing Business in Colorado”, see 16 Colo. Law. 43 (1987).   Section applies to a foreign corporation, authorized by its charter to raise a fund by small periodical payments from which loans may be made to those who contributed to such funds, and which is conducting a business of this character, even though not technically a building and loan association. People ex rel. Griffith v. Standard Home Co., 59 Colo. 355 , 148 P. 869 (1915) (decided prior to L. 33, p. 324 , § 1, the earliest source of this section).   This section is a “doing business law”. Even though this section regulates foreign savings and loan associations by prohibitions rather than by conditions, it is still a “doing business law”. In addition, imposition of criminal sanctions, such as those in this section, is not atypical of a “doing business law”. Title Ins. Co. of Minn. v. Am. Sav. & Loan Assn., 866 F.2d 1284 (10th Cir. 1989).
CO Code § 11-44-101 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-101. Division of Financial Services Created

 There is hereby created a division of financial services, within the department of regulatory agencies, which shall be administered by the state commissioner of financial services. When any law of this state refers to the savings and loan department of the state of Colorado, said law shall be construed as referring to the division of financial services.   History. Source: L. 33: P. 331, § 1. CSA: C. 25, § 47. CRS 53: § 122-6-1. C.R.S. 1963: § 122-5-1. L. 68: P. 125, § 126. L. 89: Entire section amended, p. 616, § 1, effective July 1. History. Source: L. 33: P. 331, § 1. CSA: C. 25, § 47. CRS 53: § 122-6-1. C.R.S. 1963: § 122-5-1. L. 68: P. 125, § 126. L. 89: Entire section amended, p. 616, § 1, effective July 1.    ANNOTATION   Law reviews. For comment on United States Bldg. & Loan Ass'n v. McClelland, appearing below, see 7 Rocky Mt. L. Rev. 156 (1935).   This is a comprehensive article creating a building and loan department of the state, defining its powers, and giving it supervision over all foreign and domestic building and loan corporations doing business in this state, with power to grant certificates of business. United States Bldg. & Loan Ass'n v. McClelland, 6 F. Supp. 299 (D. Colo. 1934 ).   It is a valid legislative enactment. Building and loan associations exercise quasi-banking functions, soliciting the savings and funds of the public, especially of those in more modest circumstances. The general assembly violates no constitutional guaranty in declaring them affected with a public interest and in providing, within proper limits, supervision and control for the protection of the investor. United States Bldg. & Loan Ass'n v. McClelland, 6 F. Supp. 299 (D. Colo. 1934 ).
CO Code § 11-44-101.4 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-101.4. Definitions

 As used in articles 30 and 40 to 46 of this title, unless the context otherwise requires, “board” means the financial services board, created in section 11-44-101.6 .   History. Source: L. 93: Entire section added, p. 1447, § 9, effective June 6.
CO Code § 11-44-101.5 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-101.5. Division Subject to Termination - Repeal of Article

  The provisions of section 24-34-104, C.R.S., concerning the termination schedule for regulatory bodies of the state unless extended as provided in that section, are applicable to the division of financial services created by section 11-44-101.    This article is repealed, effective September 1, 2024.     History. Source: L. 76: Entire section added, p. 621, § 4, effective July 1. L. 89: Entire section amended, p. 616, § 2, effective July 1. L. 91: Entire section amended, p. 678, § 6, effective April 20. L. 94: (2) amended, p. 66, § 9, effective July 1. L. 2004: (2) amended, p. 138, § 20, effective July 1. L. 2013: (2) amended, (SB 13-159), ch. 193, p. 790, § 1, effective May 11.
CO Code § 11-44-101.8 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-101.8. Review of Commissioner Actions by Financial Services Board - Judicial Review

     Any credit union, savings and loan association, or life care institution or provider, or any officer, director, employee, agent, advisor, or volunteer thereof, may appeal to the board any actions taken pursuant to authority delegated by the board pursuant to section 11-44-101.7 (5) or as otherwise specifically provided by statute. Notice of such appeal shall be filed with the commissioner within thirty days after such findings, ruling, order, decision, or other action. Such notice shall contain a brief statement of the pertinent facts upon which such appeal is based. Within sixty days after the appeal is filed, the board shall fix a date, time, and place for hearing the appeal and shall notify the credit union, savings and loan association, or life care institution or provider at least thirty days prior to the date of said hearing. Any such action of the commissioner may be stayed by the board pending the appeal to the board. The findings, order, decision, ruling, or other action of the board shall be deemed final agency action.    In extraordinary circumstances, upon order of the board, any hearing conducted pursuant to paragraph (a) of this subsection (1) shall be exempt from any provision of law requiring that proceedings of the board be conducted publicly. Such extraordinary circumstances occur when specific concern arises about prompt withdrawal of moneys from an institution.       Any credit union, savings and loan association, or life care institution or provider, or any officer, director, employee, agent, advisor, or volunteer thereof, or any other party, aggrieved or directly affected by a final order of the board, may obtain judicial review thereof by filing an action for review pursuant to the provisions of section 24-4-106, C.R.S., with the Colorado court of appeals pursuant to section (11), C.R.S. The commencement of such proceeding does not, unless specifically ordered by the court, operate as a stay of the board's ruling, order, decision, or other action.     History. Source: L. 93: Entire section added, p. 1451, § 9, effective June 6. L. 94: (2) amended, p. 67, § 12, effective July 1. L. 95: (2) amended, p. 1092, § 4, effective May 31. L. 97: (2) amended, p. 8, § 1, effective March 13. L. 99: (1) amended, p. 1011, § 5, effective August 4. L. 2004: (1)(a) amended, p. 138, § 21, effective July 1.
CO Code § 11-44-103 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-103. Powers of Commissioner

 The commissioner has general supervision and control over all domestic and foreign savings and loan associations doing business in this state and has full power to grant, refuse, or revoke a permit or license to any association to do business in this state when such association is not conducting its business in conformity with the laws of the state or is conducting its business in such an unsafe manner as to render its further operations hazardous to the public or any of its shareholders. All articles of incorporation and amendments thereto, all bylaws and amendments thereto, and all certificates of stock and shares of associations subject to articles 40 to 46 of this title shall be submitted to said commissioner for his approval or disapproval, and said commissioner has the authority to approve, modify, or reject any such articles of incorporation or amendments thereto, bylaws or amendments thereto, and certificates of stock or shares. The commissioner has full power and authority to prescribe all necessary and proper rules and regulations for the conduct and operation of savings and loan associations in this state and shall prescribe the manner in which the books and records of associations doing business in this state shall be kept.   History. Source: L. 33: P. 334, § 3. CSA: C. 25, § 49. CRS 53: § 122-6-3. C.R.S. 1963: § 122-5-3. History. Source: L. 33: P. 334, § 3. CSA: C. 25, § 49. CRS 53: § 122-6-3. C.R.S. 1963: § 122-5-3.    ANNOTATION   Constitutional validity not properly raised by the association. United States Bldg. & Loan Ass'n v. McClelland, 95 Colo. 292 , 36 P.2d 164 (1934).
CO Code § 11-44-103.5 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-103.5. Record Retention by the Commissioner

 The commissioner shall retain records pursuant to part 1 of article 80 of title 24, C.R.S., and may, in his or her discretion, destroy records pursuant to said part 1.   History. Source: L. 2004: Entire section added, p. 139, § 23, effective July 1.
CO Code § 11-44-104 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-104. Commissioner May Delegate Powers

 The commissioner may delegate such of his powers and authority to his deputies as he may deem necessary for proper administration of the division and may designate appropriate titles for his deputies and any of his employees. Any such delegation or designation made may be rescinded by the commissioner at any time. All such actions shall be in writing and of record in the files of the division. The acts of deputies performing such delegated powers and authority shall be of the same legal effect as if performed personally by the commissioner.   History. Source: L. 39: P. 250, § 21. CSA: C. 25, § 49(1). CRS 53: § 122-6-4. C.R.S. 1963: § 122-5-4. History. Source: L. 39: P. 250, § 21. CSA: C. 25, § 49(1). CRS 53: § 122-6-4. C.R.S. 1963: § 122-5-4.
CO Code § 11-44-105 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-105. Commissioner May Institute Suits

 The commissioner shall report to the attorney general, and he shall institute and prosecute suits and actions to enjoin violations of articles 40 to 46 of this title or violations of orders or decisions of the commissioner rendered pursuant to said articles and to enforce any civil penalties provided by said articles. The commissioner shall notify the proper district attorney of any violation of the provisions of articles 40 to 46 of this title which constitutes a felony or misdemeanor, and such district attorney shall forthwith prosecute the person charged with such offense. Upon failure or refusal of the district attorney to so prosecute, it shall be the duty of the attorney general to conduct such prosecution.   History. Source: L. 33: P. 335, § 4. CSA: C. 25, § 50. CRS 53: § 122-6-5. C.R.S. 1963: § 122-5-5. History. Source: L. 33: P. 335, § 4. CSA: C. 25, § 50. CRS 53: § 122-6-5. C.R.S. 1963: § 122-5-5.
CO Code § 11-44-106 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-106. Issuance of Subpoenas

 The commissioner has the power to issue subpoenas and require attendance of any and all officers, directors, agents, salesmen, collectors, and employees of any association and such other witnesses as he may deem necessary in relation to its affairs, transactions, and conditions, and may require such witnesses to appear and answer such questions as may be put to them by the commissioner, and may require such witnesses to produce such books, papers, or documents in their possession as may be required by the commissioner. Upon application of the commissioner, any person served with a subpoena issued by him may be required, by order of the district court of the county where the association has its principal office, to appear and answer such questions as may be put to him by the commissioner and be required to produce such books, papers, or documents in his possession as may be required by the commissioner.   History. Source: L. 33: P. 336, § 5. CSA: C. 25, § 51. CRS 53: § 122-6-6. C.R.S. 1963: § 122-5-6. History. Source: L. 33: P. 336, § 5. CSA: C. 25, § 51. CRS 53: § 122-6-6. C.R.S. 1963: § 122-5-6.
CO Code § 11-44-110.5 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-110.5. Supervisory Mergers

 As a condition to allowing an association to resume business, the commissioner may require the association to merge with a domestic, foreign, or federal savings and loan association. In the case of such a supervisory merger initiated by the commissioner or the federal deposit insurance corporation or its successor, the provisions of section 11-43-101 shall not apply.   History. Source: L. 82: Entire section added, p. 246, § 1, effective March 25. L. 2004: Entire section amended, p. 152, § 61, effective July 1.
CO Code § 11-44-111 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-111. Appeal From Commissioner's Action

 When any association, of whose property, business, and assets the commissioner has taken possession, deems itself aggrieved thereby, it may appeal to the financial services board pursuant to section 11-44-101.8 and receive expedited consideration as soon as practicable, and if it has, within ten days after the commissioner took possession, served written notice on the commissioner of its intention to seek to enjoin in court the commissioner's further proceedings, it may apply at any time within thirty days after such taking possession to the district court of the county in which the principal office of the association is located to enjoin further proceedings. After citing the commissioner to show cause why further proceedings should not be enjoined and hearing the evidence of the parties and determining the facts, the court may, upon the merits, dismiss such application or enjoin the commissioner from further proceedings and direct the commissioner to surrender such business, property, and assets to such association. An appeal from such judgment shall operate as a stay from the commissioner's taking possession, and no bond need be given if such appeal is taken by the commissioner; but, if such appeal is taken by such association, a bond shall be given as required by the court.   History. Source: L. 33: P. 341, § 10. CSA: C. 25, § 56. CRS 53: § 122-6-11. C.R.S. 1963: § 122-5-11. L. 93: Entire section amended, p. 1452, § 11, effective June 6. History. Source: L. 33: P. 341, § 10. CSA: C. 25, § 56. CRS 53: § 122-6-11. C.R.S. 1963: § 122-5-11. L. 93: Entire section amended, p. 1452, § 11, effective June 6.    ANNOTATION   The parties have, under this section, a right to a plenary judicial review of the actions of the commissioner. United States Bldg. & Loan Ass'n v. McClelland, 6 F. Supp. 299 (D. Colo. 1934 ).
CO Code § 11-44-112 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 44 - Division of Financial Services|§ 11-44-112. Appointment of Commissioner as Receiver - Assignment for Benefit of Creditors Prohibited

 Upon application to the district court, the commissioner may be appointed the receiver to operate a savings and loan association when such appointment is necessary to avoid the association's assets becoming impaired or when the association is operating in an unsafe manner. In lieu of the commissioner being appointed a receiver or liquidator, the federal deposit insurance corporation or its successor, or an insurer authorized to insure obligations or accounts pursuant to articles 40 to 47.5 of this title, may be tendered an appointment as receiver or liquidator. For the purposes of rule 98 of the Colorado rules of civil procedure, venue of the commissioner is in the city and county of Denver. No savings and loan association shall make an assignment for the benefit of creditors.   History. Source: L. 33: P. 342, § 11. CSA: C. 25, § 57. CRS 53: § 122-6-12. C.R.S. 1963: § 122-5-12. L. 82: Entire section amended, p. 246, § 2, effective March 25. L. 84: Entire section amended, p. 382, § 12, effective May 11. L. 2004: Entire section amended, p. 152, § 62, effective July 1. History. Source: L. 33: P. 342, § 11. CSA: C. 25, § 57. CRS 53: § 122-6-12. C.R.S. 1963: § 122-5-12. L. 82: Entire section amended, p. 246, § 2, effective March 25. L. 84: Entire section amended, p. 382, § 12, effective May 11. L. 2004: Entire section amended, p. 152, § 62, effective July 1.