Colorado § 11-42-122 Limitation on withdrawals

Colorado Statutes

§ 11-42-122 — Limitation on withdrawals

Colorado § 11-42-122

Title 11Financial

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Bluebook

Colo. Rev. Stat. § 11-42-122 (2026).

Text

(1)If an association has on file more withdrawal requests than can be met in full from current funds, the association shall apply to such withdrawals one-half of the monthly receipts, after first deducting the amount necessary to pay the actual and reasonable expenses incurred in the operation of the association and the protection of its assets and reserves set up by it for cash dividends on its shares; except that, should such one-half fail to retire at least five percent of the aggregate withdrawal requests, such portion of the other one-half shall be applied as shall be necessary to retire five percent of the total amount on withdrawal.

(2)Receipts, as used in this section, means all funds coming into the hands of the association except borrowed money.

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(1) If an association has on file more
withdrawal requests than can be met in full from current funds, the association
shall apply to such withdrawals one-half of the monthly receipts, after first
deducting the amount necessary to pay the actual and reasonable expenses
incurred in the operation of the association and the protection of its assets and
reserves set up by it for cash dividends on its shares; except that, should such one-half fail to retire at least five percent of the aggregate withdrawal requests, such
portion of the other one-half shall be applied as shall be necessary to retire five
percent of the total amount on withdrawal.

(2) Receipts, as used in this section, means all funds coming into the hands
of the association except borrowed money.