Title 7, Corporations and Associations
0 chapters · 1,168 sections in this title.
Colo. Rev. Stat. § 7-49-101 Legislative declaration
1.8K chars
(1) The general assembly hereby finds and declares that: (a) There exists in both the urban and rural areas of the state a substantial quantity of older houses which, while still structurally sound and safe, are in danger of deteriorating due to the lack of available private inve…
Colo. Rev. Stat. § 7-49-102 Definitions
1.5K chars
As used in this article, unless the context otherwise requires: (1) Corporation means the Colorado older housing preservation corporation authorized to be created in this article. (2) Eligible housing structure or eligible housing means a structure occupied by the owner and used …
Colo. Rev. Stat. § 7-49-103 Corporation authorized
1.1K chars
A corporation, for the purposes enumerated in this article, may be incorporated upon approval of the governor and the state treasurer. The provisions of the Colorado Business Corporation Act, articles 101 to 117 of this title, not in conflict with or inconsistent with the provisi…
Colo. Rev. Stat. § 7-49-104 Corporate name
0.2K chars
The corporation shall be called the Colorado older housing preservation corporation. Source: L. 75: Entire article added, p. 265, � 1, effective June 29.
Colo. Rev. Stat. § 7-49-105 Approval of governor and state treasurer
0.5K chars
The articles of incorporation shall not be delivered to the secretary of state, for filing pursuant to part 3 of article 90 of this title, unless the governor and the state treasurer have approved in writing the method for selection of public members of the board of directors and…
Colo. Rev. Stat. § 7-49-106 Election of board of directors
1.6K chars
(1) The business and affairs of the corporation shall be conducted by a board of directors comprised of: (a) Four members elected by a vote of the eight participating financial institutions who have made or committed the largest contributions to the loan and insurance funds provi…
Colo. Rev. Stat. § 7-49-107 Restrictions on powers
1.1K chars
(1) The powers of the corporation shall be subject to the following restrictions: (a) It shall not approve any application for a loan until the applicant has shown that the applicant has applied to two or more financial institutions that could lawfully lend the amount of money so…
Colo. Rev. Stat. § 7-49-108 Membership - loans from members
3.7K chars
(1) Any financial institution is authorized to become a member of the corporation by making application to the board of directors on such form and in such manner as the board of directors may by rule require, and membership shall become effective upon approval of the application …
Colo. Rev. Stat. § 7-49-109 Loan insurance fund established
1.5K chars
(1) The articles of incorporation shall include provisions for the establishment of a loan insurance fund as follows: (a) At the time of incorporation, and prior to initiating any loans under section 7-49-108, the corporation may call upon each member institution to contribute to…
Colo. Rev. Stat. § 7-49-110 Mortgage loans eligible for insurance
1.7K chars
(1) Fund insurance may be made available under the following conditions: (a) Fund insurance is applicable to loans originated by mortgagees approved by the corporation. (b) Mortgage loans must be a first lien against subject property. (c) Mortgage loans involving leaseholds must …
Colo. Rev. Stat. § 7-49-111 Percentage of insurance
1.0K chars
(1) The corporation may insure: (a) Up to one hundred percent of the unpaid principal amount of loans for the purpose of purchasing, rehabilitating, or repairing eligible housing; (b) Up to thirty percent of the original principal amount of refinancing loans, if the funds in exce…
Colo. Rev. Stat. § 7-49-112 Processing loans for insurance
1.0K chars
(1) Insurance on a loan qualifying for mortgage insurance under this article shall be in effect as of the date on which the lender has made a report to the corporation which shall document: (a) The estimated cost of the rehabilitation work to be done; (b) In the case of a refinan…
Colo. Rev. Stat. § 7-49-113 Eligible properties
0.5K chars
(1) Property which is the subject of mortgage insurance or a mortgage or rehabilitation loan must: (a) Meet the provisions of section 7-49-102 (2); (b) Be located in this state; (c) Be primarily residential in nature and use. (2) If the housing facility includes three or more uni…
Colo. Rev. Stat. § 7-49-114 Working capital fund
0.9K chars
(1) The corporation shall, at the time of incorporation, establish a general fund, referred to in this article as the working capital fund, and shall pay into such working capital fund any other moneys which may be available to the corporation for its general purposes from any so…
Colo. Rev. Stat. § 7-49-115 Division of housing - assistance
1.4K chars
(1) The division of housing of the department of local affairs is hereby authorized to assist individuals and the corporation as to: (a) The nature, extent, and manner of repairs, remodeling, or rehabilitation financed under this article and the nature, extent, and manner of repa…
Colo. Rev. Stat. § 7-49-116 Nonliability of state for mortgage insurance commitments
0.3K chars
This state shall not be liable for mortgage insurance commitments of the fund beyond the reserves and fee revenues of the fund. The mortgage insurance commitments issued on the fund shall contain a statement to that effect. Source: L. 75: Entire article added, p. 270, � 1, effect…
Colo. Rev. Stat. § 7-49-117 Deposit of funds
0.4K chars
The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an offic…
Colo. Rev. Stat. § 7-49-118 Books and records
0.5K chars
In addition to the books and records required by sections 7-116-101 to 7-116-105, the corporation shall keep a record showing the names and addresses of all members of the corporation and the current status of loans made by each to the corporation. Members shall have the same rig…
Colo. Rev. Stat. § 7-50-101 How organized
1.4K chars
(1) Any church, congregation, or society for religious, educational, or benevolent purposes may also become incorporated under this article by electing, appointing, or selecting, at a meeting held for the purpose, two or more of its members as directors, trustees, wardens, vestry…
Colo. Rev. Stat. § 7-50-102 Affidavit of chairperson
2.5K chars
(1) The chairperson or secretary of such meeting, within a reasonable time after the meeting, shall file in the office of the secretary of state an affidavit substantially in the following form: STATE OF COLORADO ) ) ss. County of ................................................)…
Colo. Rev. Stat. § 7-50-103 Bylaws
0.9K chars
The directors, trustees, wardens, or vestrymen of any such corporation shall adopt necessary bylaws to provide for the election of directors, trustees, wardens, or vestrymen and other officers and for the proper government in all respects of the congregation, church, or society, …
Colo. Rev. Stat. § 7-50-104 Trustees of educational institution
1.1K chars
Any corporation existing for educational purposes under the law of this state that maintains one or more institutions of higher education of the grade of a university or college shall be governed and controlled by its board of trustees, wardens, or directors, as the case may be, …
Colo. Rev. Stat. § 7-50-105 Educational institution may confer degrees
0.7K chars
Any corporation existing for educational purposes under the law of this state that maintains one or more institutions of higher education of the grade of a university or college shall have authority, by its directors, board of trustees, or such person or persons as may be designa…
Colo. Rev. Stat. § 7-50-106 Property vests in corporation
1.9K chars
Upon the due and lawful incorporation of any congregation, parish, church, or society, such corporation shall be entitled to all the real and personal property held by any person or trustees in trust for the use of the members thereof and immediately upon incorporation shall be e…
Colo. Rev. Stat. § 7-50-107 May take, hold, and convey property
0.5K chars
Domestic and foreign religious, educational, charitable, and literary corporations or associations operating within the state may take by gift, devise, or purchase, and hold and convey real and personal property. All gifts, devises, and grants made prior to March 14, 1877, to suc…
Colo. Rev. Stat. § 7-50-108 New corporation formed - when
1.3K chars
Any congregation, church, or society incorporated prior to March 14, 1877, under the provisions of any law for the incorporation of religious, educational, or benevolent societies may become incorporated under the provisions of articles 30 to 52 and 121 to 137 or articles 101 to …
Colo. Rev. Stat. § 7-50-109 Incorporation of Christian governing organizations
1.0K chars
If any body of Christians has an organization according to its order or mode of government, whether known as synod, presbytery, conference, episcopate, or other name, with ecclesiastical or spiritual jurisdiction over its members throughout this state, and its authorities desire …
Colo. Rev. Stat. § 7-50-110 Quorum of directors
0.4K chars
The bylaws of any such charitable corporation organized under the law of this state may declare the number of trustees or managers necessary to constitute a quorum at any meeting of the board. Source: L. 1883: p. 115, � 4. G.S. � 383. R.S. 08: � 1030. C.L. � 2396. CSA: C. 41, � 1…
Colo. Rev. Stat. § 7-50-111 Amendment of articles
0.3K chars
Any corporation organized under this article may amend its affidavit of incorporation at any regular or special meeting of its governing board by a two-thirds vote of the board members present. Source: L. 07: p. 312, � 1. R.S. 08: � 1031. C.L. � 2397. CSA: C. 41, � 194. CRS 53: �…
Colo. Rev. Stat. § 7-50-112 Amendment filed before effective
1.0K chars
(1) When the affidavit of incorporation is amended, a copy of the amendment shall be delivered to the secretary of state, for filing pursuant to part 3 of article 90 of this title, and upon such filing, the amendment shall become effective. (2) (Deleted by amendment, L. 2002, p. …
Colo. Rev. Stat. § 7-50-113 Articles of amendment evidence of amendment
0.5K chars
The articles of amendment, or copy thereof, duly certified by the secretary of state or by the recorder, shall be received as evidence of the change, alteration, or amendment of the articles of incorporation of the corporation. Source: L. 07: p. 313, � 3. R.S. 08: � 1033. C.L. � …
Colo. Rev. Stat. § 7-50-114 Dissolution
1.1K chars
When a majority of the members of any corporation organized pursuant to this article vote to dissolve the corporation, the corporation shall deliver to the secretary of state, for filing pursuant to part 3 of article 90 of this title, an affidavit of dissolution. Such affidavit s…
Colo. Rev. Stat. § 7-51-101 How organized
1.3K chars
(1) Any joint stock company or association organized in this state for religious, educational, or benevolent purposes may be incorporated under this article by electing or appointing, according to its usages or customs at any meeting held for that purpose, two or more of its memb…
Colo. Rev. Stat. § 7-51-102 Affidavit of chairperson - where filed - effect
1.8K chars
(1) The chairperson or secretary of the meeting, as soon as may be after such meeting, shall make and file, in the office of the recorder of deeds in the county in which the congregation, church, or society is organized, an affidavit, substantially in the following form: STATE OF…
Colo. Rev. Stat. § 7-51-103 Bylaws
0.5K chars
The directors, trustees, wardens, or vestrymen of any such corporation shall adopt necessary bylaws to provide for the election of directors, trustees, wardens, or vestrymen and other officers and for the proper government in all respects of the congregation, church, or society. …
Colo. Rev. Stat. § 7-51-104 Property vests in corporation
0.5K chars
Upon the incorporation of any such congregation, church, or society, all real and personal property held by any person or trustee for the use of the members thereof shall immediately vest in such corporation and be subject to its control, and may be used, mortgaged, sold, and con…
Colo. Rev. Stat. § 7-51-105 Powers of corporation
1.2K chars
(1) Corporations formed under this article: (a) Shall be bodies corporate and politic in fact and in name, by the name stated in the affidavit, and by that name have succession for the period for which they are organized; (b) May sue and be sued in any court in this state; (c) Ma…
Colo. Rev. Stat. § 7-51-106 Shares of stock
0.8K chars
The shares of stock shall not be less than ten dollars nor more than one hundred dollars each and shall be deemed personal property and transferable as such in the manner provided by the bylaws. Subscriptions therefor shall be made payable in such installments and at such time as…
Colo. Rev. Stat. § 7-51-107 Board of directors
0.5K chars
The corporate powers of any such corporation shall be exercised by a board of directors, trustees, or other similar officers in the manner and for the time that may be prescribed in the constitution and bylaws of the corporation, but the same shall not be in conflict with any of …
Colo. Rev. Stat. § 7-51-108 Election of directors
0.5K chars
If an election of directors, trustees, or other similar officers is not held on the day designated by the constitution or bylaws, the company shall not be dissolved for that reason, but it shall be proper to elect such directors, trustees, or other officers on any subsequent day …
Colo. Rev. Stat. § 7-51-109 Liability of stockholders
0.7K chars
Each stockholder shall be liable for the debts of the corporation to the extent of the amount unpaid upon the stock held by the stockholder, to be collected in the manner provided in this section. If any action is brought to recover any indebtedness against the corporation, it sh…
Colo. Rev. Stat. § 7-51-110 Certificate of full paid stock
0.8K chars
The president and a majority of the board of trustees, directors, or other similar officers, after the payment of the last installment of capital stock so fixed and limited by the company as required by this article, shall make a certificate stating the amount of the capital stoc…
Colo. Rev. Stat. § 7-51-111 Purchase of property
0.5K chars
The directors, trustees, or other similar officers of any such corporation may purchase real and personal property necessary for their business and issue stock to the amount of the value thereof in payment therefor; and the stock so issued shall be declared to be full-paid stock …
Colo. Rev. Stat. § 7-51-112 Any church may incorporate
0.9K chars
Any congregation, church, or society incorporated prior to February 20, 1879, under the provisions of any law for the incorporation of religious, educational, or benevolent societies may become incorporated under the provisions of this article in the same manner as if it had not …
Colo. Rev. Stat. § 7-51-113 Incorporation of religious organization
0.9K chars
If any body of Christians or other religious denomination has an organization according to its mode of government, whether known as synod, presbytery, conference, episcopate, or other name, with ecclesiastical or spiritual jurisdiction over its members throughout this state and i…
Colo. Rev. Stat. § 7-52-101 Execution of articles of incorporation
0.9K chars
The archbishop, bishop, president, trustee in trust, president of stake, president of congregation, overseer, presiding elder, or clergyman of any church or religious society who has been duly chosen, elected, or appointed in conformity with the constitutions, canons, rites, regu…
Colo. Rev. Stat. § 7-52-102 Filing articles - corporate existence
0.4K chars
Upon the filing of the articles of incorporation with the secretary of state, the person subscribing the articles and the person's successor in office by the name or title stated in the articles is a corporation sole, with perpetual succession. Source: L. 67: p. 866, � 2. C.R.S. …
Colo. Rev. Stat. § 7-52-103 Corporate powers
3.7K chars
A corporation sole may hold and maintain real, personal, and mixed property; contract in the same manner and to the same extent as an individual; sue and be sued; acquire real and personal property by purchase, devise, bequest, gift, or otherwise and hold, own, use, lease, assign…
Colo. Rev. Stat. § 7-52-104 Succession to property upon death, resignation, or removal of person incorporated as corporation sole
1.4K chars
In the event of the death or resignation of the archbishop, bishop, president, trustee in trust, president of stake, president of congregation, overseer, presiding elder, or clergyman who has been incorporated as a corporation sole under sections 7-52-101 and 7-52-102, or such pe…
Colo. Rev. Stat. § 7-52-105 Succession to property on death, resignation, or removal of person not incorporated as corporation sole
0.8K chars
Upon the death, resignation, or removal of an archbishop, bishop, president, trustee in trust, president of stake, president of congregation, overseer, presiding elder, or clergyman who at the time of death, resignation, or removal was holding the title to trust property for the …