Title 11 — Finance and Taxation
59 chapters · 1,261 sections in this title.
11 GCA § 127101 Voting Rights
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(a) Each stockholder shall have one (1) vote for each share of stock held by him, and each shareholder shall have such number of votes as shall bear the same ratio to one (1) as the par value of all shares held by him bears to the par value of one (1) share of stock issued by suc…
11 GCA § 127102 Entrance and Transfer Fees
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Every association shall have power pursuant to its by-laws to charge and collect a transfer fee not exceeding ten cents on each share or investment certificate, all of which fees shall be accounted for by the association like other funds of the association. No other fee, charge o…
11 GCA § 127103 Minors and Married Women
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(a) Every association, in addition to being entitled to issue shares and investment certificates to adults, firms or corporations, shall also have power to issue one or more shares investment certificates to a minor of any age and receive payments thereon by or for such minor. Su…
11 GCA § 127104 Joint Tenants
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(a) When shares or investment certificates are issued in the name of two or more persons, whether minor or adult, as joint tenants or in form to be paid to any of them or the survivor or survivors of them, such shares or certificates and all dues paid on account thereof by either…
11 GCA § 127105 Trustees and Guardians
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(a) Every association shall have power to issue shares and investment certificates to one or more persons or corporations as trustee or guardian for another or for others. The association shall not be liable to beneficiaries or wards for moneys paid to their trustees or guardians…
11 GCA § 127106 Attachment
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(a) In the case of any attachment levied upon any shares or investment certificates of any association or upon any debts owing by any association, the copy of writ and notice must be left, if such association maintains branches, with the manager or any other officer of such assoc…
11 GCA § 127107 Notice From Association
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Any notice which an association is required or shall desire to give to any of its investors may be given either by personal service thereof upon such investor or by mailing the same, postage prepaid, addressed to such investor at his last post office address given by such investo…
11 GCA § 127108 Notice of Transfer or Encumbrance
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(a) No transfer or encumbrance of investment certificates or shares issued by an association shall be effective as to such association until written notice of such transfer or encumbrance shall have been given to the office of the association at which such investment certificates…
11 GCA § 127109 Rate of Return on Shares and Investment Certificates
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The rate of return on shares and investment certificates: (a) Which do not provide for a definite rate of return thereon shall be determined by the Board of Directors of the association during, or within thirty (30) days before the beginning of, or within thirty (30) days after t…
11 GCA § 127110 Issuance of Shares and Investment Certificates Without
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Provision for Definite Return Thereon. (a) No association may issue shares or investment certificates with provision for a definite rate of return thereon; provided, however, that nothing contained in this section shall be deemed to forbid any association from (a) issuing shares …
11 GCA § 127111 Security for Faithful Performance
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Investment certificates, if issued by an association which is an insured institution as defined in Title IV of the National -Housing Act, shall be acceptable and may be used as security for the faithful performance of any public or private trust or obligation. Shares, if issued b…
11 GCA § 127112 Authorization to Execute Certificates
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COL4122017 Certificates evidencing shares or investment certificates shall be manually signed by one or more officers or employees who shall be authorized to execute such certificates by the by-laws or by the board of directors. SOURCE: GC § 41411.
11 GCA § 127113 Adverse Claims
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(a) Notice to any association of an adverse claim (the person making such adverse claim being hereafter in this section called adverse claimant) to shares or investment certificates standing on its books the credit of, or to personal property held for the account of, any person m…
11 GCA § 127114 Dormant and Inactive Accounts and Unclaimed Funds
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(a) Shares or Savings Account. In the event there has been no activity of deposits or withdrawals, and no contact has been made by the holder of a share or savings account with the association for five (5) years, the association shall transfer the balance of such account to the T…
11 GCA § 127115 Unclaimed Property
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(a) Definitions. As used in this Section, unless the context otherwise requires: (1) Apparent owner means the person who appears from the records of the holder to be entitled to property held by the holder. (2) Banking organization means any national or state bank, trust company,…
11 GCA § 127116 Unclaimed Property Held in Fiduciary Capacity
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(a) Definitions. For the purpose of this Section, terms as defined in § 127115 of this Chapter shall apply to this Section. (b) All tangible and intangible personal property held in a fiduciary capacity for the benefit of another person, including tangible personal property subje…