Title 11, Financial Institutions

0 chapters · 699 sections in this title.

45 sectionsFiltered byTitle 11 Ch 105

Colo. Rev. Stat. § 11-105-101 Branch banks and practices prohibited
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(1) Any state bank or state bank chartered in another jurisdiction, upon application to and approval by the banking board, may operate one or more loan production offices as defined by the banking board. (2) For purposes of this subsection (2), elementary school means any public …
Colo. Rev. Stat. § 11-105-102 Accounts and interest
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(1) A state bank may maintain demand, savings, and time deposit accounts and any type of account that a national bank may maintain. (2) Savings deposits shall be repaid to the depositors under such rules as the board of directors of the state bank shall, from time to time, prescr…
Colo. Rev. Stat. § 11-105-103 Saturday closing - notice - effect
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Any state bank or trust company, national banking association, or federal reserve bank may, by brief notation on its front door, fully dispense with, or restrict to such extent as it may determine, the hours within which it will be open for business on all, or less than all, Satu…
Colo. Rev. Stat. § 11-105-104 Minor or institutional deposits
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(1) A bank may operate a deposit account for a minor with the same effect upon its liability as if the minor were of full age unless the minor's guardian or conservator files with the bank a certified copy of the order of a Colorado court having jurisdiction appointing the guardi…
Colo. Rev. Stat. § 11-105-105 Joint deposits - right of survivor
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Except as to accounts, which are defined in and which shall be paid as provided in article 15 of title 15, C.R.S., when a bank deposit in any bank transacting business in this state is made in the names of two or more persons payable to them or to any of them, such deposit, or an…
Colo. Rev. Stat. § 11-105-106 Final adjustment - statement of account
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(1) When a statement of account has been rendered by a bank to a depositor and accompanied by vouchers, if any, that are the basis for debit entries in such account, or when the depositor's passbook or savings account book has been written up by the bank, showing the condition of…
Colo. Rev. Stat. § 11-105-107 Adverse claim deposits
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(1) Notice to any bank of an adverse claim to a deposit standing on its books to the credit of any person, or to securities or other property deposited by any person with the bank, shall not be effectual to cause said bank to recognize said adverse claimant, unless said adverse c…
Colo. Rev. Stat. § 11-105-108 Transmitting money - foreign exchange
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(1) A bank may accept money for transmission and may transmit money. (2) A bank may buy and sell foreign exchange to the extent necessary to meet the needs of customers. Source: L. 2003: Entire article added with relocations, p. 1116, � 3, effective July 1. Editor's note: This se…
Colo. Rev. Stat. § 11-105-109 Temporary closing of banks - when
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(1) Any bank doing business in this state may remain closed on any day on which, by reason of an occasion of national mourning or rejoicing or national or local emergency affecting the community in which such bank is located, the governor shall by proclamation request the people …
Colo. Rev. Stat. § 11-105-110 Disclosure of information pursuant to legal process
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Any bank, savings and loan association, credit union, or any agent or employee of such financial institutions that makes a disclosure of records or information on the direction contained in a lawful notice, subpoena, written request, search warrant, grand jury subpoena, or other …
Colo. Rev. Stat. § 11-105-111 Trust account - limited documentation required - certificate of trust
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(1) For any transaction with any bank transacting business in this state by one or more persons expressly acting as a trustee or trustees for one or more other named person or persons pursuant to or purporting to be pursuant to a written trust agreement, a trustee may provide the…
Colo. Rev. Stat. § 11-105-112 Entity account - certificate of existence and authority - definitions
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(1) For any deposit or loan account that is opened by one or more persons acting or purporting to act for or on behalf of an entity with any financial institution transacting business in this state, such person may provide the financial institution with a certificate to evidence …
Colo. Rev. Stat. § 11-105-201 Short title. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1117, � 3, effective July 1. L. 2006: Entire section repealed, p. 29, � 1, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-101 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-202 Legislative declaration. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1117, � 3, effective July 1. L. 2006: Entire section repealed, p. 29, � 2, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-102 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-203 Conditions of authority. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1117, � 3, effective July 1. L. 2006: Entire section repealed, p. 29, � 3, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-104 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-204 Conditions for retailers. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1118, � 3, effective July 1. L. 2006: Entire section repealed, p. 30, � 4, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-105 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-205 Powers of the banking board. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1119, � 3, effective July 1. L. 2006: Entire section repealed, p. 31, � 5, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-106 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-206 Jurisdiction of the district court. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1119, � 3, effective July 1. L. 2006: Entire section repealed, p. 31, � 6, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-107 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-207 Fees. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1119, � 3, effective July 1. L. 2006: Entire section repealed, p. 32, � 7, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-108 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-208 Consumer protection
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(1) Every Colorado bank using a communications facility shall provide its account holders, at the time the facility is used, with a receipt or record of each banking transaction initiated at a facility. Such receipt or record shall be admissible as evidence in any legal action or…
Colo. Rev. Stat. § 11-105-209 Permissive sharing among dissimilar institutions. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1120, � 3, effective July 1. L. 2006: Entire section repealed, p. 32, � 8, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-110 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-210 No operation by bank employees. (Repealed)
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Source: L. 2003: Entire article added with relocations, p. 1120, � 3, effective July 1. L. 2006: Entire section repealed, p. 32, � 9, effective August 7. Editor's note: Prior to its repeal, this section was similar to former � 11-6.5-111 as it existed prior to 2003.
Colo. Rev. Stat. § 11-105-211 Merchant code for firearms
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A payment card network, as defined in section 6-27-201 (7), or a merchant acquirer, as defined in section 6-27-201 (5), shall comply with part 2 of article 27 of title 6. Source: L. 2024: Entire section added, (SB 24-066), ch. 141, p. 520, � 3, effective August 7.
Colo. Rev. Stat. § 11-105-301 Reserves against deposits
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State banks that are subject to reserve provisions of the Federal Reserve Act shall maintain such reserves against deposits as may be required by the Federal Reserve Act, but, in addition thereto, the banking board may by rule impose reserve requirements that it deems prudent and…
Colo. Rev. Stat. § 11-105-302 Loans, acceptances, investments, and letters of credit
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A state bank may make such loans, secured or unsecured, accept such drafts, make such investments, and issue such letters of credit as shall be permissible pursuant to rules promulgated by the banking board or otherwise permitted by this code. In promulgating such rules the banki…
Colo. Rev. Stat. § 11-105-303 Corporate powers - interest and charges
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In addition to the general corporate powers granted by this code, a state bank has the power, subject to the limitations and restrictions imposed by this code and the rules of the banking board, to lend money either upon the security of real property or personal property, or othe…
Colo. Rev. Stat. § 11-105-304 Bank investments - customers' orders
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(1) In addition to other investments, expressly authorized by this code or the rules promulgated by the banking board, a state bank may purchase: (a) Obligations that satisfy the requirements of this code or the rules promulgated by the banking board for loans; (b) Obligations of…
Colo. Rev. Stat. § 11-105-305 Acceptances - letters of credit
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(1) A state bank may accept: (a) A draft that has not more than six months' sight to run, exclusive of days of grace, and is drawn to finance the purchase of goods with maturity in accordance with the original terms of purchase, or is secured by shipping documents transferring or…
Colo. Rev. Stat. § 11-105-401 Acquisition of property to satisfy indebtedness
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(1) A state bank may take property of any kind to satisfy, in whole or in part, or to protect indebtedness previously created in good faith by it. Property acquired by a state bank to apply on an indebtedness to a state bank shall be held subject to the following limitations: (a)…
Colo. Rev. Stat. § 11-105-402 Banking property - acquisition
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(1) A state bank may invest in fixed assets of the bank or the stock or obligations of any corporation holding such fixed assets or may make loans to or upon the security of the stock of any such corporation, but the aggregate of all such investments and loans shall not exceed on…
Colo. Rev. Stat. § 11-105-403 Sale of assets
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A bank chartered in this or another state may sell any asset in the ordinary course of business or, with the approval of the banking board, in any other circumstance. The sale of all, or substantially all, of the assets of a bank or of a department thereof is governed by section …
Colo. Rev. Stat. § 11-105-404 Pledge of assets
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(1) A state bank may pledge its assets to: (a) Enable it to act as agent for the sale of obligations of the United States; (b) Secure borrowed funds; (c) Secure deposits if: (I) The depositor is required to obtain such security by the laws of the United States, by the terms of an…
Colo. Rev. Stat. § 11-105-405 Signature guaranty
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(1) A bank may become guarantor of the genuineness of a signature. (2) A bank guaranteeing the signature of a person on any document warrants to any person relying on such guaranty only that: (a) The signature is that of a person signing; (b) The signer is the holder or the signe…
Colo. Rev. Stat. § 11-105-501 Safe deposit boxes - leasing and subsidiary company
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(1) Subject to such rules as the banking board may prescribe, a bank may maintain and lease safe deposit boxes and may accept property for safekeeping if, except in the case of night depositories, it issues a receipt therefor. (2) A bank may own stock in a safe deposit company lo…
Colo. Rev. Stat. § 11-105-502 Access by fiduciaries
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(1) Where a safe deposit box is made available by a lessor to one or more persons acting as fiduciaries, the lessor may, except as otherwise expressly provided in the lease or the writings pursuant to which such fiduciaries are acting, allow access thereto as follows: (a) By any …
Colo. Rev. Stat. § 11-105-503 Lease to minor
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A lessor may lease a safe deposit box to, or accept property for safekeeping from, a minor and, in connection therewith, deal with such minor to the same effect as if dealing with a person of full legal capacity, unless and until the minor's guardian or conservator files with the…
Colo. Rev. Stat. § 11-105-504 Death of lessee - procedure
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The provisions of section 15-10-111, C.R.S., shall apply on the death of a lessee of a safe deposit box as defined in section 11-101-401. Source: L. 2003: Entire article added with relocations, p. 1127, � 3, effective July 1. Editor's note: This section is similar to former � 11-…
Colo. Rev. Stat. § 11-105-505 Adverse claims to safe deposit box
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(1) An adverse claim to the contents of a safe deposit box is not sufficient reason to require the lessor to deny access to its lessee unless: (a) The lessor is directed to do so by a court order issued in an action in which the lessee is served with process and named as a party …
Colo. Rev. Stat. § 11-105-506 Annual fees
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Every lessor, except a bank as defined in section 11-101-401 (5) or subsidiary thereof, shall pay annually to the division of banking such fees as are determined by the banking board to be sufficient to defray the cost to the state of regulating such lessor. Source: L. 2003: Enti…
Colo. Rev. Stat. § 11-105-601 Legislative declaration
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(1) The general assembly finds, determines, and declares that distinctions in function and services of various types of financial institutions have become so narrow that organizational and operational equality should be encouraged and facilitated in this state. It is the intent o…
Colo. Rev. Stat. § 11-105-602 Financial branches allowed - conversion of financial institutions to branches - acquisitions
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(1) Any financial institution may convert any affiliate financial institution to a branch. (2) Any financial institution, no matter the location of its principal place of business, may acquire any other financial institution for conversion to a branch or branches in this or anoth…
Colo. Rev. Stat. § 11-105-603 Financial institutions - common powers and limitations
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(1) Any acquisition of a branch from another financial institution is subject to the percentage limitation set forth in subsection (5) of this section. Such an acquisition by a financial institution is expressly authorized, and the location of such branch may be changed pursuant …
Colo. Rev. Stat. § 11-105-604 Subsidiary depository institutions as agent
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(1) Any bank subsidiary of a bank holding company may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for an affiliate financial institution, as such authority is set forth in section 101(d) of the…
Colo. Rev. Stat. § 11-105-605 Rule-making by banking board and financial services board
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(1) The banking board shall promulgate and adopt such rules as are necessary to accomplish the purposes of this part 6. (2) The financial services board shall promulgate and adopt such rules as are necessary to accomplish the purposes of this part 6. (3) The banking board and the…
Colo. Rev. Stat. § 11-105-606 Notice of branch closing
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No later than ninety days prior to the proposed date of any branch closing, the notice of branch closing required to be filed with the appropriate federal regulatory agency shall be filed with the banking board or the financial services board. The notice of branch closing shall i…