C.R.S. Section 11-41-111
Renewal of corporate life

(1)

Any association incorporated under any law prior to June 8, 1933, may extend its corporate life upon the affirmative vote of at least a majority of its directors at a special meeting of the board of directors called for that purpose, setting out the purpose of said meeting, and ratified by the written consent of persons holding in the aggregate more than two-thirds in book value of the outstanding stock and shares in such association.

(2)

The president or vice-president and the secretary or assistant secretary of said association shall certify the fact, under the seal of said association, and shall make as many certificates as may be necessary so as to file one in the office of the county clerk and recorder in each county wherein the association may do business, one in the office of the secretary of state, and one in the office of the commissioner, and thereupon the corporate life of said association shall be renewed in perpetuity, or for the term mentioned in the certificate, upon filing such certificate in the office of the secretary of state. All stockholders or shareholders have the same rights in the new association, so extended, as they had in the association as originally formed.

(3)

The extension of the term of existence of any such association in the manner provided shall not be so construed as enlarging any of the powers, privileges, or franchises theretofore enjoyed by such association. Upon the proper filing of any certificate of extension mentioned in articles 40 to 46 of this title, the corporate existence shall be considered as extended and continuous for the period specified in such certificate from the date of the previous expiration of such corporate existence, and said association shall be considered as then having had a continuous corporate existence to the time of the filing of such certificate of renewal.

Source: Section 11-41-111 — Renewal of corporate life, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-11.­pdf (accessed Oct. 20, 2023).

11‑41‑101
General organization 11‑41‑102
Restriction on corporate name 11‑41‑103
Use of name “savings and loan association” restricted 11‑41‑104
Articles of incorporation 11‑41‑105
Minimum stock subscription - issuance of preferred stock 11‑41‑106
Approval of articles of incorporation 11‑41‑107
Documents deposited with commissioner 11‑41‑108
Refusal of certificate - appeal 11‑41‑109
Certificate of approval - where articles filed 11‑41‑110
Body corporate 11‑41‑111
Renewal of corporate life 11‑41‑112
Powers of savings and loan associations 11‑41‑112.5
Savings and loan association as fiduciary 11‑41‑113
Federal home loan bank membership 11‑41‑114
How funds invested 11‑41‑115
Interest rates on loans 11‑41‑116
Where associations may operate 11‑41‑117
Insurance of shares 11‑41‑117.5
Insurance of obligations 11‑41‑118
Loans - investment in notes or bonds 11‑41‑119
Loans to members and other loans 11‑41‑121
Merger, consolidation, and transfer 11‑41‑122
Membership fees 11‑41‑123
Directors and meetings 11‑41‑124
Officers or directors to receive no commission 11‑41‑125
Loans to officers and directors 11‑41‑126
Bonds of officers 11‑41‑127
Violations - penalties 11‑41‑128
Acknowledgments 11‑41‑129
Amendment of articles of incorporation 11‑41‑130
Reorganization 11‑41‑130.5
Cessation of business as an association - amendment of articles 11‑41‑131
Dissolution 11‑41‑132
Escheat proceedings 11‑41‑133
Acquisition of majority control over an existing association - definitions 11‑41‑134
Indemnification and personal liability of directors, officers, employees, and agents - legislative declaration
Green check means up to date. Up to date

Current through Fall 2024

§ 11-41-111’s source at colorado​.gov