Colorado § 24-51-311 Continuation of membership

Colorado Statutes

§ 24-51-311 — Continuation of membership

Colorado·Title 24 Government·Art. Public Employees' Retirement Association

Notwithstanding the provisions of
section 24-51-310, employees of a public hospital which is sold, leased, or otherwise
transferred to a nonprofit corporation organized pursuant to the laws of this state
for the purpose of conducting a hospital, or employees of an association-affiliated
employer that has transferred title pursuant to section 26-12-112 (5)(a), C.R.S., to an
entity organized pursuant to the laws of the state for the purpose of conducting a
long-term care facility or health-care facility, may continue membership in the
association if the board determines, in its sole discretion, that continued
membership will not adversely affect its qualified governmental plan status and if
the transfer agreement provides for continuance of membership and the new
employer agrees to

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Notwithstanding the provisions of
section 24-51-310, employees of a public hospital which is sold, leased, or otherwise
transferred to a nonprofit corporation organized pursuant to the laws of this state
for the purpose of conducting a hospital, or employees of an association-affiliated
employer that has transferred title pursuant to section 26-12-112 (5)(a), C.R.S., to an
entity organized pursuant to the laws of the state for the purpose of conducting a
long-term care facility or health-care facility, may continue membership in the
association if the board determines, in its sole discretion, that continued
membership will not adversely affect its qualified governmental plan status and if
the transfer agreement provides for continuance of membership and the new
employer agrees to submit to the association the appropriate amount of employer
and member contributions and disbursements pursuant to part 4 of this article.

Colorado § 24-51-311 (Continuation of membership) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 87: Entire article R&RE, p. 1055, � 1, effective July 1. L. 95: Entire section amended, p. 1105, � 41, effective May 31. L. 2009: Entire section amended, (SB 09-056), ch. 177, p. 783, � 2, effective April 22.