C.R.S. Section 11-105-603
Financial institutions

  • common powers and limitations

(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 to law.

(2)

Nothing in this part 6 applies to a branch facility operating under an emergency grant pursuant to section 11-103-809; however, such a branch facility may continue to operate in perpetuity as a branch without being subject to any percentage limitation on branches set forth in this part 6.

(3)

Nothing in this part 6 or part 2 of article 104 of this title prevents the acquisition of any financial institution in this state by any other financial institution; however, any conversion of all or any part thereof to a branch must be in accordance with this part 6.

(4)

If any financial institution converts any affiliate financial institution to a branch pursuant to the provisions of this part 6, such financial institution at the time of such conversion or immediately thereafter shall meet the capital standards for banks in Colorado as required by the “Colorado Banking Code”, by any rules of the banking board, or by the commissioner.

(5)

Notwithstanding any other provision of this part 6, no financial institution that acquires any other financial institution on or after August 1, 1991, may convert the acquired financial institution to a branch or branches if such conversion or conversions will result in the acquiring financial institution controlling more than twenty-five percent of the aggregate of all deposits in all banks, savings and loan associations, federal savings banks, and other financial institutions located in Colorado that are federally insured. For the purpose of this subsection (5), deposits shall be determined based upon the public reports most recently filed with the appropriate federal regulatory agency.

Source: Section 11-105-603 — Financial institutions - common powers and limitations, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-11.­pdf (accessed Oct. 20, 2023).

11‑105‑101
Branch banks and practices prohibited 11‑105‑102
Accounts and interest 11‑105‑103
Saturday closing - notice - effect 11‑105‑104
Minor or institutional deposits 11‑105‑105
Joint deposits - right of survivor 11‑105‑106
Final adjustment - statement of account 11‑105‑107
Adverse claim deposits 11‑105‑108
Transmitting money - foreign exchange 11‑105‑109
Temporary closing of banks - when 11‑105‑110
Disclosure of information pursuant to legal process 11‑105‑111
Trust account - limited documentation required - certificate of trust 11‑105‑112
Entity account - certificate of existence and authority - definitions 11‑105‑208
Consumer protection 11‑105‑301
Reserves against deposits 11‑105‑302
Loans, acceptances, investments, and letters of credit 11‑105‑303
Corporate powers - interest and charges 11‑105‑304
Bank investments - customers’ orders 11‑105‑305
Acceptances - letters of credit 11‑105‑401
Acquisition of property to satisfy indebtedness 11‑105‑402
Banking property - acquisition 11‑105‑403
Sale of assets 11‑105‑404
Pledge of assets 11‑105‑405
Signature guaranty 11‑105‑501
Safe deposit boxes - leasing and subsidiary company 11‑105‑502
Access by fiduciaries 11‑105‑503
Lease to minor 11‑105‑504
Death of lessee - procedure 11‑105‑505
Adverse claims to safe deposit box 11‑105‑506
Annual fees 11‑105‑601
Legislative declaration 11‑105‑602
Financial branches allowed - conversion of financial institutions to branches - acquisitions 11‑105‑603
Financial institutions - common powers and limitations 11‑105‑604
Subsidiary depository institutions as agent 11‑105‑605
Rule-making by banking board and financial services board 11‑105‑606
Notice of branch closing
Green check means up to date. Up to date

Current through Fall 2024

§ 11-105-603’s source at colorado​.gov