C.R.S. Section 11-102-501
Banking interests of officers and employees

  • violation
No officer or employee of the division shall be an officer, director, attorney, owner, or shareholder in any bank, or, except as provided in this article 102, receive, directly or indirectly, any payment or gratuity from any such bank, or be indebted to any bank or other institution over which the division has supervisory control. Willful violation of this section is declared to be a criminal offense. This section does not prohibit being a depositor or the lessee of a safe deposit box on the same terms as are available to the public generally, or being indebted to a bank: Upon a mortgage loan upon the mortgagor’s own home, or upon an installment debt transferred to a bank in the regular course of business by a seller of consumer goods including automobiles purchased by the officer or employee. Further, this section does not prohibit the five banker members of the banking board, provided for in section 11-102-103 (1)(a), from being executive officers in banks and from receiving bona fide compensation as such officers.

Source: Section 11-102-501 — Banking interests of officers and employees - violation, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-11.­pdf (accessed Oct. 20, 2023).

11‑102‑101
Division of banking - creation - subject to termination - repeal of article 11‑102‑102
Powers of commissioner 11‑102‑103
Banking board - repeal 11‑102‑104
Powers and duties of banking board - fees - rules 11‑102‑105
Roles and authority of banking board and commissioner - rules - exercise of powers 11‑102‑106
Nontraditional mortgages - consumer protections - rules - incorporation of federal interagency guidance 11‑102‑201
Hearing officers - powers - procedure - order final 11‑102‑202
Subpoenas - witnesses - production of records 11‑102‑203
Effect of good faith reliance on orders or rules of banking board 11‑102‑203.5
Independent administrative review of material supervisory determinations - rules 11‑102‑204
Court review 11‑102‑301
Examinations and examiner’s reports 11‑102‑302
Bank reports to banking board - generally 11‑102‑303
Bank reports to banking board - requirements for acquiring control 11‑102‑304
Commissioner’s annual report - publications 11‑102‑305
Records 11‑102‑306
Information confidential 11‑102‑307
Access to records 11‑102‑308
Bank records - preservation - reproduction 11‑102‑401
Assessments 11‑102‑403
Division of banking cash fund - creation 11‑102‑501
Banking interests of officers and employees - violation 11‑102‑502
Exemption from liability - when 11‑102‑503
Assessment of civil money penalties by banking board 11‑102‑504
No indemnification or insurance against civil money penalties 11‑102‑505
Removal of director, officer, or other person 11‑102‑506
Suspension of director, officer, or other person 11‑102‑507
Informal enforcement authority 11‑102‑508
Statements derogatory to state banks - penalty
Green check means up to date. Up to date

Current through Fall 2024

§ 11-102-501’s source at colorado​.gov