Every savings and loan association may redeem its shares or stock and repay the funds acquired thereby with such earnings as the same may be entitled to according to the terms of the issue thereof if the same are no longer required for the purposes of the association upon giving thirty days' written notice in the manner provided in the bylaws of the association, but the association cannot redeem permanent stock. The method of redemption shall be prescribed in the bylaws of the association.
Source: L. 33: p. 355, § 9. CSA: C. 25, § 77. CRS 53: § 122-3-13. C.R.S. 1963: § 122-3-13.
Structure Colorado Code
Title 11 - Financial Institutions
§ 11-42-101. Investment and Savings Shares
§ 11-42-102. Preliminary Requirements
§ 11-42-103. Contents of Certificate - Accounts
§ 11-42-104. Participating and Limited Dividend Shares
§ 11-42-105. Responsibility for Losses - Extent
§ 11-42-106. Transfer of Shares
§ 11-42-108. Assessment to Restore Impaired Permanent Stock
§ 11-42-109. Sale of Delinquent Stock
§ 11-42-110. Forfeiture of Delinquent Stock
§ 11-42-111. Reserves and Distribution of Earnings
§ 11-42-112. Requirements for Sale of Permanent Stock
§ 11-42-113. Redemption of Shares or Stock
§ 11-42-115. Power to Issue Shares to Minors or in Trust
§ 11-42-117. Notice of Intention to Withdraw
§ 11-42-120. Shares or Account Not Withdrawable
§ 11-42-121. Payment of Withdrawals
§ 11-42-122. Limitation on Withdrawals
§ 11-42-124. Applicable to Previously Issued Certificates
§ 11-42-125. Associations Authorized to Accept Deposit Accounts