Title 11, Financial Institutions
0 chapters · 699 sections in this title.
Colo. Rev. Stat. § 11-38-108 Inapplicability of related statutes
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(1) A reverse mortgage may be made or acquired without regard to the following provisions for other types of mortgage transactions set out in the statutes specified in this subsection (1): (a) Any law of this state limiting loan-to-value ratios; (b) Prohibitions on balloon paymen…
Colo. Rev. Stat. § 11-38-109 Disclosure - total loan cost
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(1) Any lender making reverse mortgage loans shall provide to a borrower prior to closing on such a loan a written statement of the projected total loan cost rate for all reverse mortgage loans except for reverse mortgage loans subject to federal Truth in Lending Act, as amended,…
Colo. Rev. Stat. § 11-38-110 Treatment of reverse mortgage loan proceeds by public benefit programs
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(1) Reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under means-tested programs of aid to individuals. (2) Undisbursed funds under a reverse mortgage shall be trea…
Colo. Rev. Stat. § 11-38-111 Consumer information and counseling
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No reverse mortgage shall be made by a lender unless the loan applicant attests, in writing, that the applicant has been advised by the lender to obtain independent counseling regarding the advisability of such applicant's entering into a reverse mortgage transaction and that suc…
Colo. Rev. Stat. § 11-38-112 Application of article
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This article shall apply to all reverse mortgages entered into on and after July 1, 1992, and shall not invalidate any reverse mortgage entered into prior to July 1, 1992. Source: L. 92: Entire article added, p. 943, � 1, effective April 23. SAVINGS AND LOAN ASSOCIATIONS
Colo. Rev. Stat. § 11-40-101 Short title
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Articles 40 to 46 of this title shall be known and may be cited as the Savings and Loan Association Law. Source: L. 33: p. 284, � 1. CSA: C. 25, � 1. L. 51: p. 212, � 1. CRS 53: � 122-1-1. C.R.S. 1963: � 122-1-1. Cross references: For additional provisions relating to savings and…
Colo. Rev. Stat. § 11-40-102 Definitions
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As used in articles 40 to 46 of this title 11, unless the context otherwise requires: (1) Branch means any office or other place of business in this state operated by an association other than its principal office in this state where subscriptions are sold, taken, or solicited fo…
Colo. Rev. Stat. § 11-40-103 Savings and loan association defined
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A savings and loan association, within the meaning of articles 40 to 46 of this title, is any domestic or foreign association or corporation formed, created, or organized to carry on the business of a savings and loan association, which is formed to encourage industry, thrift, ho…
Colo. Rev. Stat. § 11-40-104 Fiscal year - closing dates - net earnings
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(1) Each domestic savings and loan association shall have such fiscal year as may be fixed from time to time by resolution of its board of directors, but the fiscal years of all such associations shall be fixed so as to end as of the last day of a calendar month. Every domestic s…
Colo. Rev. Stat. § 11-40-105 File annual reports
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(1) On or before February 1 in each year, every association shall make an annual written report to the commissioner, in a form to be prescribed by the commissioner, of its affairs and operations for the twelve months ending on December 31 of the previous year. (2) If an associati…
Colo. Rev. Stat. § 11-40-106 Annual fees and assessments - fund
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(1) Every domestic savings and loan association operating in this state shall pay to the division of financial services such fees for administration, supervision, and examination as the commissioner may determine sufficient to meet the budget of the division of financial services…
Colo. Rev. Stat. § 11-40-106.5 Preauthorized transfers - savings and loan association must have written authorization. (Repealed)
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C.R.S. 11-40-106.5Statutes 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. § 11-40-107 Defamation of associations - penalty
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Any person who willfully makes, circulates, or transmits any false statement, rumor, report, or suggestion, written, printed, or spoken, concerning the financial condition or management or assets of any savings and loan association, either by name or as a particular group of any …
Colo. Rev. Stat. § 11-40-108 Circulating false information - penalty
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Any person who willfully and knowingly concurs in or is responsible, directly or indirectly, for the making, publishing, or posting, either generally or privately, to actual or prospective members or investors of any false or misleading information tending to imply that any other…
Colo. Rev. Stat. § 11-40-109 Suits interfering with business of association
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An order, a judgment, or a decree providing for an accounting of, or enjoining, restraining, or interfering with the transaction of, the business of any savings and loan association organized or doing business under articles 40 to 46 of this title 11 shall not be made or granted …
Colo. Rev. Stat. § 11-41-100.3 Definitions
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As used in this article 41, unless the context otherwise requires: (1) Loans means obligations and advances of credit. Source: L. 2025: Entire section added, (SB 25-275), ch. 377, p. 2039, � 49, effective August 6.
Colo. Rev. Stat. § 11-41-101 General organization
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Domestic associations may be incorporated with shares or stock or both and with all the rights, powers, and privileges and subject to all the restrictions set forth in articles 40 to 46 of this title. Source: L. 33: p. 287, � 1. CSA: C. 25, � 4. CRS 53: � 122-2-1. C.R.S. 1963: � …
Colo. Rev. Stat. § 11-41-102 Restriction on corporate name
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The name of each domestic association incorporated on or after May 17, 1939, shall include the words savings and loan association. If the name of the domestic association contains the words savings and loan association, it need not comply with the requirements of part 6 of articl…
Colo. Rev. Stat. § 11-41-103 Use of name savings and loan association restricted
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It is unlawful for any person, firm, company, association, partnership, society, or corporation, either domestic or foreign, to transact business under any name or title which contains the term savings and loan, or use any sign or circulate or use any letterhead, billhead, circul…
Colo. Rev. Stat. § 11-41-104 Articles of incorporation
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(1) Any five or more persons who are citizens of this state and who may desire to form a corporation for the purpose of carrying on the business of a savings and loan association shall make, sign, and acknowledge, in triplicate, before some officer competent to take the acknowled…
Colo. Rev. Stat. § 11-41-105 Minimum stock subscription - issuance of preferred stock
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(1) No permanent stock association shall be organized on or after July 1, 1983, unless, prior to the filing of its articles of incorporation, such minimum amount of its permanent stock and paid-in surplus as required by the commissioner has been subscribed for and the same paid f…
Colo. Rev. Stat. § 11-41-106 Approval of articles of incorporation
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The articles of incorporation of any savings and loan association organized under articles 40 to 46 of this title shall not be filed in the office of the secretary of state of the state of Colorado or be received by the secretary of state for filing unless accompanied by a certif…
Colo. Rev. Stat. § 11-41-107 Documents deposited with commissioner
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(1) Every domestic savings and loan association proposing to incorporate in this state shall first deposit with the commissioner the following documents: (a) Two signed and verified copies of the articles of incorporation of the association; (b) Two copies of the bylaws of the as…
Colo. Rev. Stat. § 11-41-108 Refusal of certificate - appeal
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If the commissioner, after an examination, believes for any reason that a certificate of approval should not be issued and refuses to issue a certificate of approval, the commissioner shall file a written statement with the governor, the attorney general, and the state treasurer,…
Colo. Rev. Stat. § 11-41-109 Certificate of approval - where articles filed
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(1) If the commissioner finds affirmatively for the association upon all the matters set forth in section 11-41-107, the commissioner shall issue a certificate of approval in duplicate within sixty days after the finding, which certificate recites in substance the following: (a) …
Colo. Rev. Stat. § 11-41-110 Body corporate
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Upon making the articles of incorporation, obtaining a certificate of approval from the commissioner, filing the articles of incorporation and certificate of approval in the office of the secretary of state, and paying the filing fees therefor to the secretary of state, the perso…
Colo. Rev. Stat. § 11-41-111 Renewal of corporate life
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(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, a…
Colo. Rev. Stat. § 11-41-112 Powers of savings and loan associations
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(1) Savings and loan associations have the following powers: (a) To have succession of its corporate name; (b) As to all associations incorporated prior to June 8, 1933, to have existence for the period named in their articles of incorporation and, on the termination of such peri…
Colo. Rev. Stat. § 11-41-112.5 Savings and loan association as fiduciary
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It is unlawful for a savings and loan association to act as fiduciary, other than as escrow agent, unless it is authorized to do so by the commissioner. Source: L. 81: Entire section added, p. 623, � 2, effective May 18.
Colo. Rev. Stat. § 11-41-113 Federal home loan bank membership
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(1) Any savings and loan association organized and incorporated under the laws of this state as a savings and loan association that is eligible to become a member of the federal home loan bank, in accordance with the Federal Home Loan Bank Act, 12 U.S.C. sec. 1421 et seq., as ame…
Colo. Rev. Stat. § 11-41-114 How funds invested
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(1) A savings and loan association may invest any portion of its funds in any of the following: (a) Loans to its members, secured by first lien trust deeds or mortgages upon improved real estate, and upon such plans of repayment, as provided in section 11-41-119, and in such othe…
Colo. Rev. Stat. § 11-41-115 Interest rates on loans
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(1) Any savings and loan association may charge, contract for, and recover such rate of interest as may be provided in the notes or other evidences of indebtedness taken by the association. Notes secured solely by the pledge of shares and notes secured by real estate mortgages re…
Colo. Rev. Stat. § 11-41-116 Where associations may operate
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Upon approval of the commissioner, a savings and loan association may conduct business in this state, in other states, in the District of Columbia, in the territories and colonies of the United States, and in foreign countries, and have one or more offices out of this state, and …
Colo. Rev. Stat. § 11-41-117 Insurance of shares
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(1) A savings and loan association shall obtain and maintain insurance of its shares with the federal deposit insurance corporation or its successor as provided by the Federal Deposit Insurance Act, 12 U.S.C. sec. 1811 et seq., and any amendments thereto. Notice of any such actio…
Colo. Rev. Stat. § 11-41-117.5 Insurance of obligations
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(1) A savings and loan association shall obtain and maintain insurance of its obligations, including accounts, with the federal deposit insurance corporation or its successor. (2) (a) An association is further authorized to obtain and maintain insurance of any obligations, includ…
Colo. Rev. Stat. § 11-41-118 Loans - investment in notes or bonds
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(1) Savings and loan associations are authorized: (a) To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance by the federal housing administrator and to obtain such insurance; (b) To make such…
Colo. Rev. Stat. § 11-41-119 Loans to members and other loans
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(1) An association may invest any portion of its funds in loans to its members, secured by first lien trust deeds or mortgages upon improved real estate; except that additional loans or advances on the same property secured by additional encumbrances shall be deemed to be first l…
Colo. Rev. Stat. § 11-41-119.5 Reporting of loans. (Repealed)
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Source: L. 88: Entire section added, p. 457, � 2, effective July 1. L. 96: Entire section repealed, p. 30, � 3, effective March 13.
Colo. Rev. Stat. § 11-41-120 Branches. (Repealed)
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Source: L. 33: p. 306, � 13. CSA: C. 25, � 16. CRS 53: � 122-2-20. C.R.S. 1963: � 122-2-20. L. 84: Entire section amended, p. 378, � 4, effective May 11. L. 91: Entire section amended, p. 666, � 6, effective May 31. L. 2003: Entire section amended, p. 1208, � 12, effective July 1…
Colo. Rev. Stat. § 11-41-121 Merger, consolidation, and transfer
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(1) As used in this section, the word association shall include federal savings and loan associations incorporated under the Home Owners' Loan Act of 1933. (1.5) (a) A domestic association may merge with a foreign association and, subject to the limitations specified in this subs…
Colo. Rev. Stat. § 11-41-122 Membership fees
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(1) Savings and loan associations shall not, directly or indirectly, charge any membership, admission, repurchase, withdrawal, or other fee, fine, penalty, or sum of money for the privilege of becoming, remaining, or ceasing to be a member of the association or for any other caus…
Colo. Rev. Stat. § 11-41-123 Directors and meetings
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(1) The corporate powers shall be exercised by a board of directors, which may be any number not less than five as shall be fixed by and stated in the articles of incorporation and which directors shall hold office until their successors are duly elected and qualified. At each an…
Colo. Rev. Stat. § 11-41-124 Officers or directors to receive no commission
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No officer or director of any savings and loan association shall take or receive for himself, directly or indirectly, any commission, compensation, remuneration, gift, speculative interest, or other thing of value as an inducement to the making of any loan by the association or t…
Colo. Rev. Stat. § 11-41-125 Loans to officers and directors
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No officer or director of any savings and loan association shall negotiate for or receive a mortgage loan from such association, except for the bona fide financing of the home of such officer or director, unless the commissioner has first approved such loan. Source: L. 33: p. 358…
Colo. Rev. Stat. § 11-41-126 Bonds of officers
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Every officer, employee, and agent handling or having custody or charge of funds or securities belonging to a savings and loan association, before entering upon the discharge of the officer's, employee's, or agent's duties, shall give a good and sufficient bond in the sum fixed b…
Colo. Rev. Stat. § 11-41-127 Violations - penalties
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(1) Any officer, director, agent, or employee of any savings and loan association who, directly or indirectly or by indirection, commits or causes the commission of theft, abstraction, or misapplication of any of the funds or securities or other property of or under the control o…
Colo. Rev. Stat. § 11-41-128 Acknowledgments
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A notary public or other public officer qualified to take acknowledgments or proof of written instruments shall not be disqualified from taking the acknowledgment or proof of an instrument in writing in which a savings and loan association is interested by reason of the notary pu…
Colo. Rev. Stat. § 11-41-129 Amendment of articles of incorporation
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(1) Except as provided in section 11-41-130.5, if the holders of at least one-third of the outstanding voting stock or shares of any association request, in writing, the president or other head officer thereof to call a meeting of stockholders or shareholders of such association …
Colo. Rev. Stat. § 11-41-130 Reorganization
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(1) The board of directors of an association may adopt a plan of reorganization of the association at a meeting called for that purpose. Two copies of the proposed plan of reorganization, signed by the president or vice president of the association, verified by the president's or…
Colo. Rev. Stat. § 11-41-130.5 Cessation of business as an association - amendment of articles
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(1) Notwithstanding any provision of this article 41 to the contrary, in connection with the sale of all or a substantial part of its assets, the board of directors of any savings and loan association may propose an amendment to its articles of incorporation to amend the objects …