Colorado § 11-45-103 - Conversion into state association.
Full text of Colorado Colorado Revised Statutes § 11-45-103 — Conversion into state association., with citation guidance and answers to common questions.
§ 11-45-103. Conversion into state association.
(1) Any federal savings and loan association may convert itself into an association under articles 40 to 46 of this title 11 by the majority vote of all members present in person or by proxy at an annual meeting or at any special meeting called to consider the action. Copies of the minutes of the proceedings of the meeting of members, verified by the affidavit of the secretary or an assistant secretary, shall be filed in the office of the commissioner within ten days after the meeting. The verified copies of the proceedings of the meeting when filed are prima facie evidence of the holding and action of the meeting.
(2) At the meeting at which conversion is voted upon, the members shall also vote upon the directors who shall be the directors of the state-chartered association after conversion takes effect. Such directors shall then execute two copies of the certificate of incorporation and four copies of the bylaws. The directors chosen for the association shall all sign and acknowledge the certificate of incorporation as subscribers thereto and the bylaws as incorporators of the association. The commissioner may provide, by regulation, for the procedure to be followed by any such federal savings and loan association converting into an association under articles 40 to 46 of this title. The state-chartered association shall be a continuation of the corporate entity of the converting federal association and continue to have all of its property and rights.
Source: L. 39: p. 251, § 24. CSA: C. 25, § 68(1). CRS 53: § 122-7-3. C.R.S. 1963: § 122-6-3. L. 2004: (1) amended, p. 140, § 27, effective July 1. L. 2024: (1) amended, (HB 24-1381), ch. 350, p. 2392, § 66, effective August 7.
ARTICLE 46
Safe Deposit Facilities
11-46-101. Definitions.
11-46-102. Safe deposit boxes.
11-46-103. Lease to natural persons.
11-46-104. Leases to joint tenants.
11-46-105. Access by fiduciaries.
11-46-106. Effect of lessee's death or incompetence.
11-46-107. Search procedure on death.
11-46-108. Adverse claims to contents of safe deposit box.
11-46-109. Nonpayment of rent.
Frequently Asked Questions About Colorado § 11-45-103
What does Colorado Revised Statutes § 11-45-103 cover?
Section 11-45-103 ("Conversion into state association.") 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 § 11-45-103?
A common citation format is "Colorado Revised Statutes § 11-45-103" (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 § 11-45-103 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.