Colorado § 11-42-104 Participating and limited dividend shares

Colorado Statutes

§ 11-42-104 — Participating and limited dividend shares

Colorado·Title 11 Financial·Art. Shares and Stock

Shares may be issued
to participate fully or to a limited extent in the net earnings of the association if the
articles of incorporation so provide, and such participation shall be specified in the
body of the certificate. All shares participating fully in net earnings shall be entitled
to an equal rate of dividend, if earned, as fixed by the board of directors. Shares
participating to a limited extent shall be entitled to such rate of dividend, if earned,
as fixed by the board of directors for the semiannual periods ending June thirtieth
and December thirty-first of each year; but, if the rate is decreased, the
shareholders thus affected shall be given written notice of the new rate, within
thirty days after date of declaration, by mailing such notice to their last-known
address

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Shares may be issued
to participate fully or to a limited extent in the net earnings of the association if the
articles of incorporation so provide, and such participation shall be specified in the
body of the certificate. All shares participating fully in net earnings shall be entitled
to an equal rate of dividend, if earned, as fixed by the board of directors. Shares
participating to a limited extent shall be entitled to such rate of dividend, if earned,
as fixed by the board of directors for the semiannual periods ending June thirtieth
and December thirty-first of each year; but, if the rate is decreased, the
shareholders thus affected shall be given written notice of the new rate, within
thirty days after date of declaration, by mailing such notice to their last-known
addresses.

Colorado § 11-42-104 (Participating and limited dividend shares) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 33: pp. 312-317, �� 1-6. CSA: C. 25, � 19. L. 39: p. 248, � 19. L. 43: p. 202, � 4. CRS 53: � 122-3-4. L. 55: p. 762, � 8. C.R.S. 1963: � 122-3-4.