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2017 Colorado Revised Statutes
Title 7 - Corporations and Associations
Corporations
Article 51 - Joint Stock Religious or Benevolent Associations
§ 7-51-111. Purchase of property
Universal Citation: CO Rev Stat ยง 7-51-111 (2017)
The directors, trustees, or other similar officers of any such corporation may purchase real and personal property necessary for their business and issue stock to the amount of the value thereof in payment therefor; and the stock so issued shall be declared to be full-paid stock and not liable to any further calls or assessments thereon nor for any debt of the corporation.
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