A limited cooperative association may provide in its articles or bylaws for the disposition of funds when declared payable by the association and remaining unclaimed by the holder for three years after notification has been mailed to the holder's last-known address of record on the books of the association, which disposition may consist of transferring the funds to the general operating account of the association.
Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 801, § 1, effective April 2, 2012.
Structure Colorado Code
Title 7 - Corporations and Associations
Article 58 - Uniform Limited Cooperative Association Act
Part 10 - Contributions, Allocations, and Distributions
§ 7-58-1001. Members' Contributions
§ 7-58-1002. Contribution and Valuation
§ 7-58-1003. Contribution Agreements
§ 7-58-1004. Allocations of Profits and Losses
§ 7-58-1006. Redemption or Repurchase
§ 7-58-1007. Limitation on Distributions
§ 7-58-1008. Liability for Improper Distributions - Limitation of Action
§ 7-58-1009. Relation to State Securities Law
§ 7-58-1010. Alternative Distribution of Unclaimed Property, Distributions, Redemptions, or Payments