Colorado § 11-45-101 - Conversion into federal association.
Full text of Colorado Colorado Revised Statutes § 11-45-101 — Conversion into federal association., with citation guidance and answers to common questions.
§ 11-45-101. Conversion into federal association.
(1) Any savings and loan association or other home-financing organization, by whatever name or style it may be designated, that is eligible to become a federal savings and loan association may convert itself into a federal savings and loan association by the following procedure:
(a) At any regular or special meeting of the shareholders of any such association called to consider such action and held in accordance with the laws governing such association, such shareholders, by an affirmative vote of the shareholders owning and voting the number of shares required for authorization of the sale of the association's assets or required to accomplish a consolidation or a merger, whichever is the greater, present in person or by proxy, may declare by resolution the determination to convert said association into a federal savings and loan association.
(b) A copy of the minutes of such meeting of the shareholders, verified by the affidavit of the president or vice-president and the secretary of the meeting, shall be filed within ten days after said meeting in the office or division of this state having supervision of such association. Such verified copy of the minutes of such meeting when so filed shall be presumptive evidence of the holding and of the action of such meeting.
(c) Within a reasonable time and without any unnecessary delay after the adjournment of the meeting of shareholders, the association shall take any action that may be necessary to make it a federal savings and loan association.
Source: L. 35: p. 263, § 1. CSA: C. 25, § 67. CRS 53: § 122-7-1. C.R.S. 1963: § 122-6-1. L. 2004: (1)(c) amended, p. 140, § 26, effective July 1. L. 2024: IP(1) and (1)(c) amended, (HB 24-1381), ch. 350, p. 2392, § 65, effective August 7.
Frequently Asked Questions About Colorado § 11-45-101
What does Colorado Revised Statutes § 11-45-101 cover?
Section 11-45-101 ("Conversion into federal 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 § 11-45-101?
A common citation format is "Colorado Revised Statutes § 11-45-101" (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 § 11-45-101 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.