Section 11-44-115 - Officers to furnish schedule of property

(1) Upon taking possession of the property, business, and assets of an association, the commissioner shall require the president and secretary of the association to: (a) Make a schedule of all of the association's property and assets and all collateral held by the association as security for loans;(b) State under oath that the schedule sets forth all property, assets, and collateral that the association owns or to which it is entitled; and(c) Deliver to the commissioner the schedule and the possession of all property and collateral that has not been previously delivered to the commissioner.(2) The commissioner may examine the president and secretary, the other officers of the association, or the directors, agents, or employees under oath at any time to determine whether all the property, assets, and collateral that the association owns or to which it is entitled have been transferred and delivered to the commissioner.Amended by 2024 Ch. 350,§ 51, 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

tions 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. 33: p. 344, § 14. CSA: C. 25, § 60. CRS 53: § 122-6-15. C.R.S. 1963: § 122-5-15.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).