Colorado § 8-82-101 Nonprofit corporation - authorization and purposes

Colorado Statutes

§ 8-82-101 — Nonprofit corporation - authorization and purposes

Colorado·Title 08 Labor and·Art. Acquisition of Lands and Buildings

For the
purpose of performing the functions required under the provisions of the Colorado
Employment Security Act, articles 70 to 82 of this title, the division is hereby
authorized to create a nonprofit corporation or authority under the laws of this state
and, in the name of such nonprofit corporation or authority, to purchase land and
cause to be erected thereon a building or buildings suitable for offices, or for
housing equipment, or for both such purposes. Any land so purchased or buildings
so constructed may be thereafter sold or exchanged when, in the determination of
the directors of the corporation or authority, the division no longer has need for
such property, and any funds or proceeds obtained from such sale or exchange
shall be the sole property of the division and 

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For the
purpose of performing the functions required under the provisions of the Colorado
Employment Security Act, articles 70 to 82 of this title, the division is hereby
authorized to create a nonprofit corporation or authority under the laws of this state
and, in the name of such nonprofit corporation or authority, to purchase land and
cause to be erected thereon a building or buildings suitable for offices, or for
housing equipment, or for both such purposes. Any land so purchased or buildings
so constructed may be thereafter sold or exchanged when, in the determination of
the directors of the corporation or authority, the division no longer has need for
such property, and any funds or proceeds obtained from such sale or exchange
shall be the sole property of the division and distributed by it as required by the
terms of articles 70 to 82 of this title.

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Legislative History

Source: L. 55: p. 535, � 1. CRS 53: � 82-12-1. C.R.S. 1963: � 82-12-1. L. 77: Entire section amended, p. 470, � 26, effective July 7. L. 93: Entire section amended, p. 1797, � 103, effective June 6.