Colorado § 11-42-120 Shares or account not withdrawable

Colorado Statutes

§ 11-42-120 — Shares or account not withdrawable

Colorado·Title 11 Financial·Art. Shares and Stock

No member whose shares
are pledged or whose account is pledged as security for a real estate loan from the
association issuing such shares or accepting such account shall be permitted to
make a withdrawal or be entitled to give any valid notice of intention to withdraw in
respect of such shares or account until the indebtedness for which such shares are
pledged or for which such account is pledged as security has been fully paid;
except that withdrawals may be made without notice if the full amount of such
withdrawals is used to pay such indebtedness or any part thereof.

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No member whose shares
are pledged or whose account is pledged as security for a real estate loan from the
association issuing such shares or accepting such account shall be permitted to
make a withdrawal or be entitled to give any valid notice of intention to withdraw in
respect of such shares or account until the indebtedness for which such shares are
pledged or for which such account is pledged as security has been fully paid;
except that withdrawals may be made without notice if the full amount of such
withdrawals is used to pay such indebtedness or any part thereof.

Colorado § 11-42-120 (Shares or account not withdrawable) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 33: p. 320, � 4. CSA: C. 25, � 30. CRS 53: � 122-3-20. C.R.S. 1963: � 122-3-20. L. 83: Entire section amended, p. 502, � 4, effective May 23.