Upon application to the district court, the commissioner may be appointed the receiver
to operate a savings and loan association when such appointment is necessary to avoid
the association's assets becoming impaired or when the association is operating in
an unsafe manner. In lieu of the commissioner being appointed a receiver or liquidator, the federal
deposit insurance corporation or its successor, or an insurer authorized to insure
obligations or accounts pursuant to articles 40 to 47.5 of this title, may be tendered
an appointment as receiver or liquidator. For the purposes of rule 98 of the Colorado rules of civil procedure, venue of the commissioner is in the city and county of Denver. No savings and loan association shall make an assignment for the benefit of creditors.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.