When any such stock has been purchased or contract entered into for the purchase of the same, the corporation shall have the power to use its funds and to levy and collect assessments on the remaining outstanding capital stock in the manner provided by law for the payment of any other indebtedness, for the purpose of paying the purchase price of the stock so purchased.
Source: L. 21: p. 212, § 2. C.L. § 2358. CSA: C. 41, § 146. CRS 53: § 31-14-6. C.R.S. 1963: § 31-14-6.
Structure Colorado Code
Title 7 - Corporations and Associations
Article 42 - Ditch and Reservoir Companies
§ 7-42-101. Additional Statements in Certificates - Mutual Ditch Corporation Shares
§ 7-42-101.5. Acequia Ditch Corporation - Definition - Powers
§ 7-42-102. Work After Organization
§ 7-42-104. Assessment on Stock
§ 7-42-105. Right to Purchase Own Stock
§ 7-42-106. Assessments to Pay Purchase Price
§ 7-42-107. Shall Furnish Water to Whom - Rate
§ 7-42-108. Shall Keep Ditch in Repair
§ 7-42-109. Penalty for Damage
§ 7-42-109. Penalty for Damage
§ 7-42-112. Procedure to Extend Term
§ 7-42-113. Duplicate Certificate Issued - When
§ 7-42-115. Publication of Notice of Demand
§ 7-42-116. Duplicate Conclusive Against Original
§ 7-42-117. Proof of Right to Certificate
§ 7-42-118. Liability of Stockholders, Directors, and Officers