The board of directors of a state bank may declare dividends from retained earnings and from other components of capital specifically approved by the banking board so long as the declaration is made in compliance with the rules established by the banking board.
Source: L. 2003: Entire article added with relocations, p. 1090, § 3, effective July 1.
Editor's note: This section is similar to former § 11-3-118 as it existed prior to 2003.
Structure Colorado Code
Title 11 - Financial Institutions
Article 103 - Organization and Corporate Functions
Part 4 - Shares and Distributions
§ 11-103-401. Subscription Calls
§ 11-103-402. First Meetings of Stockholders - Director's Oath - Bylaws
§ 11-103-403. Stockholders' Meetings - Voting Trusts - Preemptive Right - Transfer of Stock
§ 11-103-404. Waiver of Notice - Meeting or Vote
§ 11-103-405. Amendment of Articles - Change of Location - Authorized but Unissued Stock