C.R.S. Section 11-103-603
Deposit insurance

  • membership in federal reserve system
  • federal national mortgage association

(1)

A state bank is authorized to do any act necessary to obtain insurance of its deposits by the United States or any agency thereof and to acquire and hold membership in the federal reserve system or to take advantage of any other act or resolution of congress that may be enacted to aid, regulate, or safeguard state banks and their depositors, including any amendments of the same or any substitutions thereof. It may also subscribe for and acquire any stock, debentures, bonds, or other types of securities of the federal deposit insurance corporation and comply with the lawful regulations and requirements from time to time issued or made by such corporation.

(2)

A state bank that is a member of the federal reserve system, or of the federal deposit insurance corporation, or of both may make payments to the federal national mortgage association, a constituent agency of the national housing and home finance agency, of nonrefundable capital contributions, receive stock evidencing such capital contributions and hold and dispose thereof, contract with said association, and incur the expenses and otherwise comply with the then lawful regulations and requirements issued by said association from time to time to the extent a national bank in like circumstances is authorized by any act or resolution by the United States congress or by any lawful rule issued pursuant thereto.

Source: Section 11-103-603 — Deposit insurance - membership in federal reserve system - federal national mortgage association, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-11.­pdf (accessed Oct. 20, 2023).

11‑103‑101
General corporate powers
11‑103‑102
Trust, fiduciary, and agency powers - when authorized
11‑103‑103
State bank organized as a limited liability company
11‑103‑201
Capital
11‑103‑202
Inadequacy of capital - assessments
11‑103‑203
Liability of shareholders
11‑103‑301
Incorporators
11‑103‑302
Application fees
11‑103‑303
Application for de novo charter or charter conversion
11‑103‑304
Procedure for granting or denying charter
11‑103‑401
Subscription calls
11‑103‑402
First meetings of stockholders - director’s oath - bylaws
11‑103‑403
Stockholders’ meetings - voting trusts - preemptive right - transfer of stock
11‑103‑404
Waiver of notice - meeting or vote
11‑103‑405
Amendment of articles - change of location - authorized but unissued stock
11‑103‑406
Dividends - when payable
11‑103‑501
Directors and officers
11‑103‑502
Directors’ meetings - duties
11‑103‑503
Waiver of notice - meeting or vote
11‑103‑601
Director and officer insurance and fidelity bonds - legislative declaration
11‑103‑602
Indemnification and personal liability of directors, officers, employees, and agents
11‑103‑603
Deposit insurance - membership in federal reserve system - federal national mortgage association
11‑103‑701
Merger or conversion
11‑103‑702
Approval of merger by directors
11‑103‑703
Approval by banking board
11‑103‑704
Approval by stockholders - rights of dissenters
11‑103‑705
Effective date of merger - certificate
11‑103‑706
Continuation of corporate entity
11‑103‑707
Conversion from state bank to national and vice versa
11‑103‑708
Nonconforming assets
11‑103‑709
Sale of all assets of bank, branch, or department
11‑103‑801
Voluntary liquidation and dissolution
11‑103‑802
Involuntary liquidation by banking board - reorganization
11‑103‑803
Reorganization plan
11‑103‑804
Liquidation by commissioner - procedure
11‑103‑805
Federal deposit insurance corporation or successor as liquidator
11‑103‑806
Assets sold or pledged as security
11‑103‑807
Enforcement of directors’ liability
11‑103‑808
Emergency grant of new charter
11‑103‑809
Emergency grant of branch facility - legislative declaration
11‑103‑810
Preapproved shelf charter
Green check means up to date. Up to date

Current through Fall 2024

§ 11-103-603’s source at colorado​.gov