3 CCR 703-1-13 - INVESTMENTS PURSUANT TO C.R.S. 11-41-114(5)
13-1.
Definition. The term "amount invested by the association in real
estate through service corporations" means the association's investment in
capital stock in any service corporation as well as any loans (including
guarantees of loans and letters of credit) made by the association to the
service corporation or to a joint venture in which the service corporation is a
partner, shareholder or investor.
13-2. For the purpose of determining the
amount defined in Section 13-1, in the case of a service corporation involved
in real estate investments as well as other permitted activities, an
association shall maintain sufficient records to document a fair allocation of
its investments between the real estate investments and non-real estate
activities of the service corporation. In the absence of sufficient records to
document the allocation, the Commissioner shall consider the entire service
corporation investment to be an investment in real estate through service
corporations.
Notes
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