The board of directors of a state bank may declare dividends from retained earnings and from other components of capital specifically approved by the banking board so long as the declaration is made in compliance with the rules established by the banking board.L. 2003: Entire article added with relocations, p. 1090, § 3, effective July 1.This section is similar to former § 11-3-118 as it existed prior to 2003.
Colorado Legal Code