11-42-103. Contents of certificate - accounts.

Statute text

A share account shall be kept on the books of the association with each certificate holder showing the aggregate of all payments made, plus dividends paid in cash or credited. The aggregate of all payments made, plus dividends credited, less withdrawals, shall be termed the "certificate value" or "withdrawal value" of the account.

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: 122-3-3. L. 55: p. 762, 7. C.R.S. 1963: 122-3-3.

Annotations

 

ANNOTATION

Annotations

A mutual association cannot contract as to maturity date of its stock. A mutual building and loan association has no power to contract with a shareholder that his stock will mature in a definite time. People's Bldg. & Loan Ass'n v. Purdy, 20 Colo. App. 287, 78 P. 465 (1904).