Matured shares. If, at the time shares in a savings and loan association have matured, the association has withdrawal notices on file to such an extent that the funds of the association, applicable to withdrawals, are not sufficient to pay all shareholders desiring to withdraw, as well as shares that have matured and are unpaid, and the holder of the matured shares desires to withdraw, the holder of the matured shares shall file a notice of intention to withdraw. Thereafter, the holder of the matured shares is subject to all the rights and liabilities of articles 40 to 46 of this title 11 governing withdrawing shareholders; except that the holder of the matured shares is entitled to the full amount of any dividends declared on like shares during the time the holder of the matured shares has a withdrawal notice on file on the same. Source: L. 33: p. 323, § 7. CSA: C. 25, § 33. CRS 53: § 122-3-23. C.R.S. 1963: § 122- 3-23. L. 2024: Entire section amended, (HB 24-1381), ch. 350, p. 2379, § 40, effective August 7. Editor's note: Section 67
(2) of chapter 350 (HB 24-1381), Session Laws of Colorado
2024, provides that the act changing this section applies to the operations of the division of
financial services, the commissioner of financial services, the financial services board, credit
unions, savings and loan associations, and life care institutions on or after August 7, 2024,
including the imposition of fines by the commissioner of financial services against a person who
violates a cease-and-desist order or a suspension or removal order.
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