Colorado Statutes
§ 7-48-114 — Deposit of funds
No corporation formed under the provisions of
this article shall at any time be authorized to receive money on deposit. The
corporation shall not deposit any of its funds in any banking institution unless such
institution has been designated as a depository by a vote of a majority of the
directors present at an authorized meeting of the board of directors, exclusive of
any director who is an officer or director of the depository so designated.
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Legislative History
Source: L. 65: p. 452, � 1. C.R.S. 1963: � 31-23-14. L. 2003: Entire section
amended, p. 2210, � 34, effective July 1, 2004.
Nearby Sections
15
§ 7-101-101
Short title§ 7-101-102
Reservation of power to amend or repeal§ 7-101-201
Filing requirements§ 7-101-401
General definitions§ 7-101-501
Short title§ 7-101-504
Nonprofit corporations§ 7-101-506
Duties of directors§ 7-101-507
Benefit report - definition§ 7-101-509
No effect on other corporations§ 7-102-101
Incorporators§ 7-102-102
Articles of incorporation§ 7-102-103
Incorporation