C.R.S. Section 11-109-603
No indemnification or insurance against civil money penalties


Notwithstanding any other provision of law, no trust company shall indemnify or insure any executive officer, director, employee, agent, or person participating in the conduct of affairs of such trust company against civil money penalties.

Source: Section 11-109-603 — No indemnification or insurance against civil money penalties, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-11.­pdf (accessed Oct. 20, 2023).

11‑109‑101
Definitions
11‑109‑102
Use of words “trust” or “trust company”
11‑109‑103
Applicability of powers of banking board and bank commissioner to trust companies
11‑109‑104
Powers - banking board - commissioner
11‑109‑105
No private right of action
11‑109‑201
Powers of trust companies
11‑109‑202
Offices of trust companies
11‑109‑203
Activities not requiring a charter
11‑109‑204
Federal deposit insurance required
11‑109‑205
Transactions with affiliates
11‑109‑206
Trust company organized as a limited liability company
11‑109‑301
Incorporators
11‑109‑302
Application fee
11‑109‑303
Assessments
11‑109‑304
Capital
11‑109‑305
Application for charter
11‑109‑306
Procedure for granting or denying charter
11‑109‑401
Acquisition of majority control over an existing trust company - definitions
11‑109‑402
Reports to the banking board and to the commissioner
11‑109‑501
Directors’ meetings - duties
11‑109‑502
Director and officer insurance and fidelity bonds - legislative declaration
11‑109‑601
Penalty for noncompliance with the law
11‑109‑602
Assessment of civil money penalties by banking board
11‑109‑603
No indemnification or insurance against civil money penalties
11‑109‑604
Removal of director, officer, or other person
11‑109‑605
Suspension of director, officer, or other person
11‑109‑606
Informal enforcement authority
11‑109‑607
Receipt of deposits while insolvent
11‑109‑701
Discontinuance of trust business - voluntary liquidation and dissolution
11‑109‑702
Involuntary liquidation
11‑109‑703
Emergency grant of new charter
11‑109‑704
Liquidation by commissioner - procedure
11‑109‑801
Appeals procedure
11‑109‑802
Injunctions - appeals
11‑109‑901
Reserves against deposits
11‑109‑902
Investments
11‑109‑903
Substitution of trust companies
11‑109‑904
Laws governing individuals apply
11‑109‑905
Separation of fiduciary funds
11‑109‑906
Funds awaiting investment or distribution
11‑109‑907
Extensions of credit
Green check means up to date. Up to date

Current through Fall 2024

§ 11-109-603’s source at colorado​.gov