Shares may be issued and deposits received in the name of a minor. A member who is a minor may withdraw or pledge any shares owned by the minor and receive from the credit union any dividends or other money at any time the dividends or other money becomes due, in the same manner and subject to the same conditions as an adult, and any receipt or acquittance signed by the minor constitutes a valid release and discharge to the credit union for the payment of such money. The board of directors of the credit union may provide in the bylaws of the credit union a minimum age of any minor to be eligible for membership in the credit union and to vote at any meeting of the members.Amended by 2024 Ch. 350,§ 15, eff. 8/7/2024, app. 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 8/7/2024, 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.L. 31: p. 302, § 13. CSA: C. 47, § 13. L. 41: p. 376, § 13. CRS 53: § 38-1-13. mmissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.L. 31: p. 302, § 13. CSA: C. 47, § 13. L. 41: p. 376, § 13. CRS 53: § 38-1-13. C.R.S. 1963: § 38-1-13. L. 67: p. 320, § 11.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.2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
Colorado Legal Code