Colorado § 7-49-109 - Loan insurance fund established.
Full text of Colorado Colorado Revised Statutes § 7-49-109 — Loan insurance fund established., with citation guidance and answers to common questions.
§ 7-49-109. Loan insurance fund established.
(1) The articles of incorporation shall include provisions for the establishment of a loan insurance fund as follows:
(a) At the time of incorporation, and prior to initiating any loans under section 7-49-108, the corporation may call upon each member institution to contribute to the loan insurance fund. The contribution of each institution shall not exceed two-one hundredths of one percent of its assets, unless a greater amount is contributed voluntarily by a member institution or unless a greater amount is stated at the time of incorporation. The corporation may call for contributions to the loan insurance fund only as needed to meet its insurance obligations on loans insured under this article that are in default and for the purpose of maintaining a fund of cash in the loan insurance fund of five hundred thousand dollars. Calls for contributions shall be made upon each of the member institutions in an amount that bears, at the date of the call, the same proportion to the loan insurance fund as such institution's assets bear to the total assets owned by the institutions.
(b) The loan insurance fund may be maintained by mortgage insurance fees not to exceed one-half of one percent above the rate charged for the mortgage or rehabilitation loan.
(2) In the alternative, mortgage insurance may also be provided under the provisions of section 10-4-106, C.R.S.
Source: L. 75: Entire article added, p. 267, § 1, effective June 29. L. 2003: (1)(a) amended, p. 2211, § 36, effective July 1, 2004.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 7-49-109
What does Colorado Revised Statutes § 7-49-109 cover?
Section 7-49-109 ("Loan insurance fund established.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 7-49-109?
A common citation format is "Colorado Revised Statutes § 7-49-109" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 7-49-109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.