Code of Colorado Regulations
700 - Department of Regulatory Agencies
703 - Division of Financial Services
3 CCR 703-3 - RULES AND REGULATIONS OF THE COLORADO DIVISION OF FINANCIAL SERVICES PERTAINING TO CREDIT UNIONS
Section 3 CCR 703-3-20.1 - Definition of Insolvency
Universal Citation: 3 CO Code Regs 703-3, ยง 20.1
Current through Register Vol. 47, No. 5, March 10, 2024
A credit union shall be considered insolvent either when the book value of its shares and liabilities exceeds the book value of its assets or when it is unable to pay withdrawals of shares or deposits at the end of the notice period allowed by C.R.S. 11-30-119(1) or to pay other obligations as they become due. C.R.S. 11-30-120(1)
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