Title 11, Financial Institutions
0 chapters · 699 sections in this title.
Colo. Rev. Stat. § 11-30-101 Definitions - organization - charter - investigation
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(1) (a) A credit union is a cooperative association, incorporated pursuant to this article for the twofold purpose of promoting thrift among its members and creating a source of credit for them at fair and reasonable rates of interest. (b) As used in this article: (I) Board means…
Colo. Rev. Stat. § 11-30-101.7 Hearing procedures for community field of membership credit unions
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(1) An application for a community field of membership shall be subject to approval by the board after the required notice and hearing requirements in this section are met. (2) Upon submission by the commissioner, pursuant to section 11-30-101 (3), of a community field of members…
Colo. Rev. Stat. § 11-30-102 Bylaws of credit unions
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The commissioner shall cause to be prepared a standard form of bylaws, consistent with this article, to be issued to all credit unions. All credit unions shall operate under the standard bylaws; except that each such credit union, subject to the approval of the commissioner, shal…
Colo. Rev. Stat. § 11-30-103 Membership
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(1) Credit union membership shall consist of the incorporators and any other persons and organizations which are elected to membership and which pay any entrance fee. Organizations, incorporated or otherwise, composed for the most part of the same general group as the credit unio…
Colo. Rev. Stat. § 11-30-103.5 Branches. (Repealed)
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Source: L. 93: Entire section added, p. 1445, � 4, effective June 6. L. 2013: Entire section repealed, (SB 13-159), ch. 193, p. 790, � 3, effective May 11.
Colo. Rev. Stat. § 11-30-104 Powers
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(1) A credit union has the following powers to: (a) Receive the savings of its members either as payment on shares or as deposits, including the right to conduct Christmas clubs, vacation clubs, and other such thrift organizations or plans within the membership; (b) Make loans to…
Colo. Rev. Stat. § 11-30-105 Exclusive right to use credit union in title - penalty
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A credit union organized in accordance with the provisions of this article 30, or in accordance with the laws of the United States or the laws of another state or territory of the United States, has the exclusive right to use the words credit union in its name or title; but an as…
Colo. Rev. Stat. § 11-30-106 Examinations - reports - powers of commissioner - rules - penalty
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(1) (a) Credit unions shall be under the supervision of the commissioner. Every credit union shall be examined by the commissioner at least once during any eighteen-month period. The commissioner shall assess each credit union an amount to cover the expenses of the division attri…
Colo. Rev. Stat. § 11-30-106.5 Assessment of civil money penalties
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(1) (a) After notice and a hearing as provided in article 4 of title 24, C.R.S., and after making a determination that no other appropriate governmental agency has taken similar action against such person for the same act or practice, the commissioner may assess and collect a civ…
Colo. Rev. Stat. § 11-30-107 Fiscal year - meetings
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(1) A board of directors of a credit union may determine the date upon which the credit union's fiscal year ends, so long as the date coincides with the end of a standard fiscal quarter. (2) A board of directors of a credit union may determine the date of the credit union's annua…
Colo. Rev. Stat. § 11-30-108 Elections
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(1) At the annual meeting, or by other proper balloting within thirty days before and twenty days after the annual meeting, the credit union members shall elect from the membership a board of directors of not less than five members. A supervisory committee of not less than three …
Colo. Rev. Stat. § 11-30-109 Directors and officers - compensation
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(1) At its first meeting after the annual election, the board of directors shall elect from its own number an executive officer, who may be designated as chair of the board or president; a vice-chair of the board or one or more vice-presidents; a treasurer; and a secretary. The o…
Colo. Rev. Stat. § 11-30-110 Credit committee - credit officer
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The credit committee or credit officer has general supervision of all loans to members. Applications for loans must be on a form approved by the credit committee or the credit officer. At least a majority of the members of the credit committee or the credit officer shall pass and…
Colo. Rev. Stat. § 11-30-111 Supervisory committee
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(1) The supervisory committee shall: (a) Make, or cause to be made, a comprehensive annual audit of the books and affairs of the credit union and shall submit a report of the annual audit to the board of directors and a summary of that report to the members at the next annual mee…
Colo. Rev. Stat. § 11-30-112 Capital
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The capital of a credit union consists of the payments that have been made to it in shares by the several members of the credit union. The credit union has a lien on the shares and deposits of a member for any sum due to the credit union from the member or for any loan endorsed b…
Colo. Rev. Stat. § 11-30-113 Minors
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Shares may be issued and deposits received in the name of a minor. A member who is a minor may withdraw or pledge any shares owned by the minor and receive from the credit union any dividends or other money at any time the dividends or other money becomes due, in the same manner …
Colo. Rev. Stat. § 11-30-114 Rates. (Repealed)
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Source: L. 31: p. 302, � 14. CSA: C. 47, � 14. L. 41: p. 376, � 14. L. 51: p. 315, � 4. CRS 53: � 38-1-14. C.R.S. 1963: � 38-1-14. L. 80: Entire section amended, p. 469, � 1, effective March 10. L. 85: Entire section repealed, p. 398, � 1, effective March 1.
Colo. Rev. Stat. § 11-30-115 Power to borrow and loan money
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A credit union may borrow from any source a total sum which shall not exceed fifty percent of its shares, deposits, and undivided earnings. No credit union shall loan more than ten percent of its assets to any member or to another credit union. Source: L. 31: p. 303, � 15. CSA: C…
Colo. Rev. Stat. § 11-30-116 Loans
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A credit union may make loans to members subject to the provisions of this article and the bylaws of the credit union. A borrower may repay a loan in whole or in part any day the office of the credit union is open for business. A credit union may make loans to its own directors, …
Colo. Rev. Stat. § 11-30-117 Reserves
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(1) (Deleted by amendment, L. 2004, p. 131, � 7, effective July 1, 2004.) (2) The board may require reserves to protect the interest of members by general rules, including reserve requirements for any privately insured credit union. In addition, the commissioner may require speci…
Colo. Rev. Stat. § 11-30-117.5 Share insurance required - confidentiality
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(1) Each credit union shall apply for insurance on its shares and deposits as provided by the national credit union administration board under section 201 of the Federal Credit Union Act, 12 U.S.C. sec. 1781, or comparable insurance approved by the commissioner. Credit unions wit…
Colo. Rev. Stat. § 11-30-118 Dividends
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At such intervals and for such periods of time as the board of directors may authorize and after provision for the required reserves, the board of directors may declare a dividend. Dividends may be paid at various rates on different classes of shares, and dividend credit may be a…
Colo. Rev. Stat. § 11-30-118.5 Preauthorized transfers - credit union must have written authorization. (Repealed)
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C.R.S. 11-30-118.5Statutes current through Chapter 65 of the 2026 Regular Session, effective as of April 20, 2026. The text of this section is not final. It will not be final until compared to, and updated from, the text provided by the Colorado Office of Legislative Legal Servic…
Colo. Rev. Stat. § 11-30-119 Expulsion or withdrawal of members
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(1) Any member may withdraw from the credit union at any time, but notice of withdrawal may be required in the bylaws. The board of directors may expel any member from membership in the credit union if such member fails to comply with the written rules and policies of the credit …
Colo. Rev. Stat. § 11-30-120 Suspension - liquidation - procedures
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(1) (a) If it appears that any credit union is insolvent, that it has willfully violated any provision of this article 30, or that it is operating in an unsafe or unsound manner, the commissioner may order the credit union to show cause why its operations should not be suspended …
Colo. Rev. Stat. § 11-30-120.5 Conversion - state to federal credit union - federal to state credit union
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(1) A credit union organized under the provisions of this article may be converted into a federal credit union by complying with the requirements of this section. (2) (a) The proposition for such conversion shall first be approved by a majority of the directors of the credit unio…
Colo. Rev. Stat. § 11-30-121 Change in place of business
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A credit union may change its place of business to a location outside of the county or city and county in which previously located upon receiving written permission therefor from the commissioner. A credit union may change its place of business within the county or city and count…
Colo. Rev. Stat. § 11-30-122 Merger
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(1) The method of merger of two or more credit unions shall be as follows: (a) (I) The board of directors of the continuing and each merging credit union shall: (A) Approve a plan for the proposed merger; and (B) Authorize representatives of each credit union to act on each credi…
Colo. Rev. Stat. § 11-30-123 Taxation
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A credit union shall be deemed an institution for savings and, together with all accumulations therein, shall not be subject to taxation except as to real estate owned. The shares of a credit union shall not be subject to a stock transfer tax when issued by the corporation or whe…
Colo. Rev. Stat. § 11-30-124 Transfer of functions. (Repealed)
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Source: L. 88: Entire section added, p. 416, � 6, effective April 11. L. 89: Entire section amended, p. 618, � 9, effective July 1. L. 2024: Entire section repealed, (HB 24-1381), ch. 350, p. 2364, � 9, effective August 7; (6) repealed, (HB24-1450), ch. 490, p. 3407, � 17, effect…
Colo. Rev. Stat. § 11-30-125 Notice of branch opening and closing
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(1) A credit union that has its principal place of business in this state may establish one or more new branches anywhere in this state or in any other state thirty days after providing written notice to the commissioner. (2) No later than ninety days prior to the proposed date o…
Colo. Rev. Stat. § 11-30-126 Trust account - limited documentation required - certificate of trust
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(1) For any transaction with any credit union in this state by one or more persons expressly acting as a trustee or trustees for one or more other named person or persons pursuant to or purporting to be pursuant to a written trust agreement, a trustee may provide the credit union…
Colo. Rev. Stat. § 11-30-127 Merchant code for firearms
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A payment card network, as defined in section 6-27-201 (7), or a merchant acquirer, as defined in section 6-27-201 (5), shall comply with part 2 of article 27 of title 6. Source: L. 2024: Entire section added, (SB 24-066), ch. 141, p. 520, � 2, effective August 7. MARIJUANA FINAN…