§ 7-50-106 — Property vests in corporation

Upon the due and lawful
incorporation of any congregation, parish, church, or society, such corporation shall
be entitled to all the real and personal property held by any person or trustees in
trust for the use of the members thereof and immediately upon incorporation shall
be entitled to a deed of conveyance to be executed by the person holding such
property in trust, in order to vest the title thereto in the corporation. Such deed of
conveyance shall state the object and purposes of the trust to be carried out
according to the purpose and intent of its creation, which deed shall be recorded
after the manner of conveyances in general, so that the title and trust declared may
duly appear of record. Any self-supporting congregation, parish, church, or society
may vest its real estate and personal property in such general incorporations as are
provided for in section 7-50-109; except that, if the authorities of any church, sect,
or religious body have caused a corporation to be formed for general missions and
other purposes, as provided in this article, and it is in accordance with the usages
and customs of the church, sect, or religious body to vest the property of mission
stations in such corporation, then all such property that may have been held by any
person or trustees for the use of the mission stations shall be vested in said general
corporation; and whenever any mission station, from change of population or other
cause, is suspended or abandoned, the general corporation, in its discretion, may
sell or otherwise dispose of all such mission property, the proceeds of such sale or
disposal to be used for the benefit of said church, sect, or religious body in the state
of Colorado.

Legislative History

Source: G.L. � 232. L. 1881: p. 65, � 1. G.S. � 375. R.S. 08: � 1023. C.L. � 2389. CSA: C. 41, � 182. CRS 53: � 31-21-6. C.R.S. 1963: � 31-20-6. L. 2003: Entire section amended, p. 2212, � 43, effective July 1, 2004.