Colorado § 22-41-105 Income distinguished from principal

Colorado Statutes

§ 22-41-105 — Income distinguished from principal

Colorado·Title 22 Education·Art. Public School Fund

(1)Any amount paid as a premium for an interest-bearing obligation in excess of the amount realized upon disposition of said obligation must be recovered as a return of principal out of interest thereafter derived from the public school fund. Such recovery must be made and recorded on a systematic basis applied consistently from year to year.

(2)Interest and income that is not distributed as specified in section 22-41-102 (3) on June 30 of any fiscal year becomes part of the principal of the public school fund.

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(1) Any amount paid as a
premium for an interest-bearing obligation in excess of the amount realized upon
disposition of said obligation must be recovered as a return of principal out of
interest thereafter derived from the public school fund. Such recovery must be
made and recorded on a systematic basis applied consistently from year to year.

(2) Interest and income that is not distributed as specified in section 22-41-102 (3) on June 30 of any fiscal year becomes part of the principal of the public
school fund.

Colorado § 22-41-105 (Income distinguished from principal) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 73: R&RE, p. 1241, � 1. C.R.S. 1963: � 123-4-5. L. 77: Entire section amended, p. 1056, � 3, effective July 15. L. 2016: Entire section amended, (SB 16-035), ch. 250, p. 1026, � 5, effective August 10.