(1) It is unlawful for any person, firm, association, or corporation to use or advertise the words trust or trust company in the conduct of its business in such a manner as is likely to cause the public to be confused, deceived, or mistaken that the person, firm, association, or corporation has been authorized to transact business as a regulated financial institution unless the person, firm, association, or corporation is organized under the Colorado Banking Code, articles 101 to 109 of this title, article 70 of this title, the banking laws of another state, or the national banking laws and is authorized to use the words trust or trust company as part of its name.
(2) Subsection (1) of this section does not apply to trust institutions.
Source: L. 2003: Entire article added with relocations, p. 1177, � 3, effective July 1. L. 2013: Entire section amended, (SB 13-154), ch. 282, p. 1482, � 49, effective July 1.
Editor's note: This section is similar to former � 11-23-102.3 as it existed prior to 2003.
11-109-103. Applicability of powers of banking board and bank commissioner to trust companies. The powers, duties, and functions of the banking board and the commissioner contained in article 102 of this title and the declaration of policy contained in section 11-101-102 shall apply to the provisions of this article.
Source: L. 2003: Entire article added with relocations, p. 1177, � 3, effective July 1.
Editor's note: This section is similar to former � 11-23-102.5 as it existed prior to 2003.