Colorado § 11-42-105 Responsibility for losses - extent

Colorado Statutes

§ 11-42-105 — Responsibility for losses - extent

Colorado § 11-42-105

Title 11Financial

Art.Shares and Stock

This text of Colorado § 11-42-105 (Responsibility for losses - extent) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 11-42-105 (2026).

Text

The members of an
association shall not be responsible for any losses which its invested capital is not
sufficient to satisfy, except to the extent provided in sections 11-42-108 to 11-42-110, and the shares shall not be subject to assessment, nor shall certificate holders
be liable for any unpaid installment on their shares. Except as provided in article 47
of this title, no preference between certificate holders shall be created with respect
to the distribution of assets upon voluntary or involuntary liquidation, dissolution, or
winding up of an association. Shareholders in mutual associations shall participate
in the distribution of all assets, and in permanent stock associations they shall
participate first, but only to the extent of their share investments.

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The members of an
association shall not be responsible for any losses which its invested capital is not
sufficient to satisfy, except to the extent provided in sections 11-42-108 to 11-42-110, and the shares shall not be subject to assessment, nor shall certificate holders
be liable for any unpaid installment on their shares. Except as provided in article 47
of this title, no preference between certificate holders shall be created with respect
to the distribution of assets upon voluntary or involuntary liquidation, dissolution, or
winding up of an association. Shareholders in mutual associations shall participate
in the distribution of all assets, and in permanent stock associations they shall
participate first, but only to the extent of their share investments.

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: � 122-3-5. C.R.S. 1963: � 122-3-5. L. 75: Entire section amended, p. 406, � 2, effective January 1, 1976.