reglab/housing_qa huggingface dataset:
CO Code § 11-102-506 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 102 - Division of Banking|Part 5 - Conflicts of Interest, Penalties, Removal, Suspension, Enforcement|§ 11-102-506. Suspension of Director, Officer, or Other Person

  The banking board may suspend an executive officer, director, employee, agent, or other person participating in the conduct of the affairs of a state bank who becomes ineligible to hold such position, or who after receipt of an order of the banking board to cease and desist violates this code or a lawful rule or order issued pursuant thereto, or who is dishonest, or who is reckless or grossly incompetent in the conduct of banking business, or who may be subject to removal under section 11-102-505. It shall be a criminal offense for any such person, after receipt of a suspension order, to perform any duty or exercise any power of any state bank until the banking board vacates such suspension order. A suspension order shall specify the grounds thereof. A copy of the order shall be sent to the bank concerned and to each member of its board of directors.    With respect to any action pursuant to this section, ten days' notice, by certified mail, return receipt requested, and an opportunity for hearing shall be provided to the bank affected, in advance of any action taken by the banking board. In cases found by the banking board to involve extraordinary circumstances requiring immediate action, the banking board may take such action, without notice or hearing, but shall promptly afford a subsequent opportunity for hearing, upon application to rescind the action taken.     History. Source: L. 2003: Entire article added with relocations, p. 1079, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-2-120 as it existed prior to 2003.
CO Code § 11-102-507 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 102 - Division of Banking|Part 5 - Conflicts of Interest, Penalties, Removal, Suspension, Enforcement|§ 11-102-507. Informal Enforcement Authority

 The banking board, or the commissioner if so authorized by the banking board, shall have authority to initiate informal actions to enforce the provisions of this code. In this regard the banking board or the commissioner may, in the banking board's or the commissioner's discretion, enter into written agreements such as a memorandum of understanding with, or an informal commitment letter from, or strongly worded letter of reprimand to any bank or any executive officer, director, employee, agent, or other person participating in the conduct of the affairs of a bank.   History. Source: L. 2003: Entire article added with relocations, p. 1079, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-2-121 as it existed prior to 2003.
CO Code § 11-102-508 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 102 - Division of Banking|Part 5 - Conflicts of Interest, Penalties, Removal, Suspension, Enforcement|§ 11-102-508. Statements Derogatory to State Banks - Penalty

 Any person who willfully makes, circulates, or transmits to another any false statement, written or oral, that is directly or by inference derogatory to the financial condition of any state bank and that results in an extraordinary withdrawal of funds from such bank or that results in impairing public confidence in such bank and any person who shall counsel, aid, procure, or induce another to start, transmit, or circulate any such statement knowing the statement to be false commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501 , C.R.S.   History. Source: L. 2003: Entire article added with relocations, p. 1079, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-2-122 as it existed prior to 2003.
CO Code § 11-103-102 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 1 - General Corporate Powers|§ 11-103-102. Trust, Fiduciary, and Agency Powers - When Authorized

 In addition to its other powers, a state bank that is authorized by its charter to exercise trust powers, upon proper qualification under this code, has the power to act as a fiduciary in any capacity. It may also act as registrar, transfer agent, fiscal agent, or attorney-in-fact and have the power to receive, manage, and apply sinking funds. Every state bank that is authorized by its charter to exercise trust powers pursuant to this section shall make and file with the commissioner an annual report of trust assets and such other reports as the banking board may require by rule, on such forms as may be prescribed by the banking board. No report filed pursuant to this section shall be required to be published.   History. Source: L. 2003: Entire article added with relocations, p. 1081, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-102 as it existed prior to 2003.
CO Code § 11-103-201 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 2 - Capital Requirements|§ 11-103-201. Capital

 The banking board shall establish by rule the capital standards and guidelines, the methods for measuring capital, and the definitions of “capital”, “capital adequacy”, “capital inadequacy”, and other related terms for banks subject to this code, that may differ for specific purposes. In promulgating such rules, the banking board shall consider all relevant factors, including, without limitation, the policies set forth in section 11-101-102 and relevant federal laws and rules. Each bank subject to this code shall at all times comply with the capital rules promulgated by the banking board.   History. Source: L. 2003: Entire article added with relocations, p. 1081, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-103 as it existed prior to 2003.
CO Code § 11-103-301 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 3 - Chartering a State Bank|§ 11-103-301. Incorporators

 Five or more individual incorporators of a de novo bank or organizers of a converting bank desiring to organize or convert to a state bank must file with the banking board, in triplicate, an application for charter on the form prescribed therefor and together with all other documents required by section 11-103-303 , all of which instruments shall be duly signed by each of the incorporators or organizers and sworn to before an officer authorized by the laws of this state to administer oaths. A majority of the incorporators must be residents of the state and citizens of the United States. Each incorporator of a de novo bank shall, prior to the filing of said application, subscribe and pay in full in cash for stock having a par value of not less than one percent of the minimum capital and paid-in surplus requirements.   History. Source: L. 2003: Entire article added with relocations, p. 1084, § 3, effective July 1. L. 2013: Entire section amended,(SB 13-154), ch. 282, p. 1477, § 40, effective July 1.    Editor's note:   This section is similar to former § 11-3-106 as it existed prior to 2003.   ANNOTATION   Annotator's note. Since § 11-103-301 is similar to § 11-3-106 as it existed prior to the 2003 recodification of the “Colorado Banking Code”, articles 101 to 109 of title 11, a relevant case construing that provision has been included in the annotations to this section.   Legislative intent. The general assembly intended to assure that, in order to protect the public, a new bank should commence operations with its capital and paid-in surplus intact and with its organizational expenses paid. Firstbank of N. Longmont v. Banking Bd., 648 P.2d 684 (Colo. App. 1982).
CO Code § 11-103-302 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 3 - Chartering a State Bank|§ 11-103-302. Application Fees

 Each application for charter shall be accompanied by a fee established by the banking board pursuant to section 11-102-104 (11) . The fee may be refunded to the incorporators if the application for charter is withdrawn prior to the date set for public hearing.   History. Source: L. 2003: Entire article added with relocations, p. 1084, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-107 as it existed prior to 2003.
CO Code § 11-103-401 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 4 - Shares and Distributions|§ 11-103-401. Subscription Calls

 After a de novo charter has been granted, the directors may call for the payment of the subscriptions in full within thirty days after the date of the notice that the charter has been granted. The bank shall not issue any shares until the bank has paid in full, in cash, the par value and the pro rata portion of the paid-in surplus specified in the de novo charter.   History. Source: L. 2003: Entire article added with relocations, p. 1088, § 3, effective July 1. L. 2013: Entire section amended,(SB 13-154), ch. 282, p. 1480, § 43, effective July 1.    Editor's note:   This section is similar to former § 11-3-111 as it existed prior to 2003.   ANNOTATION   Annotator's note. Since § 11-103-401 is similar to § 11-3-111 as it existed prior to the 2003 recodification of the “Colorado Banking Code”, articles 101 to 109 of title 11, relevant cases construing that provision have been included in the annotations to this section.   “Fully subscribed” is not unconditionally subscribed. There is nothing in the statutory language of this section or § 11-3-109 or 11-3-110 to indicate that “fully subscribed” means unconditionally and irrevocably subscribed. Banking Bd. v. Columbine State Bank, 194 Colo. 54 , 569 P.2d 871 (1977).   Applied in First Nat'l Bank v. Banking Bd., 663 P.2d 261 (Colo. App. 1983).
CO Code § 11-103-402 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 4 - Shares and Distributions|§ 11-103-402. First Meetings of Stockholders - Director's Oath - Bylaws

  After the capital and surplus have been fully paid in cash and before any business is transacted, the incorporators shall call a meeting of the stockholders, on at least ten days' notice, to elect directors and to adopt bylaws, and shall direct the call, on at least five days' notice, of the first meeting of directors for election of officers.    Every director of a state bank shall take and subscribe to an oath before a disinterested notary public that the director will, insofar as the duty devolves upon him or her, diligently and honestly administer the affairs of the bank and that he or she will not knowingly violate nor willingly permit to be violated any provision of the law.    Bylaws may be adopted and amended by a majority vote at a stockholders' meeting, but the bylaws may provide for adoption or amendment by the board of directors of any provisions other than those relating to the duties, term of office, remuneration, reimbursement, or indemnification of a director. Copies of all bylaws and amendments thereto shall be filed with the commissioner.     History. Source: L. 2003: Entire article added with relocations, p. 1088, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-112 as it existed prior to 2003.   ANNOTATION   Failure to obtain capital and surplus may forfeit charter. Where a banking corporation fails within the period prescribed to pay up its entire capital stock in cash, its charter is liable to forfeiture. People ex rel. Attorney Gen. v. City Bank, 7 Colo. 226 , 3 P. 214 (1883) (decided under repealed laws antecedent to CSA, C. 18, § 8, which were similar to this section).
CO Code § 11-103-404 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 4 - Shares and Distributions|§ 11-103-404. Waiver of Notice - Meeting or Vote

  When a notice is required to be given to stockholders under this code, or the charter or bylaws of any state bank, a waiver thereof in writing, signed by the person entitled to said notice, either before or after the time stated therein, shall be deemed equivalent thereto.    If the vote of stockholders at a meeting thereof is required or permitted to be taken in connection with any corporate action by any section of this code, the meeting and vote of stockholders may be dispensed with, if all of the stockholders who would have been entitled to vote upon the action if such meeting were held consent in writing to such corporate action being taken.    In the event that the action that is consented to is such as would have required the filing of a certificate under any of the other sections of this code if such action had been voted upon by the stockholders at a meeting thereof, the certificate filed under such other section shall state that written consent has been given under this section, in lieu of stating that the stockholders have voted upon the corporate action in question, if such last mentioned statement is required thereby.     History. Source: L. 2003: Entire article added with relocations, p. 1089, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-116 as it existed prior to 2003.
CO Code § 11-103-405 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 4 - Shares and Distributions|§ 11-103-405. Amendment of Articles - Change of Location - Authorized but Unissued Stock

  A state bank may apply to the banking board to amend its articles of incorporation or to change its location.    An application for an amendment of the articles of incorporation to change the authorized capital and the number and par value of the shares, to acquire or abandon trust powers, or to change its location shall be authorized by the vote of two-thirds of the outstanding voting stock voted at a meeting of the stockholders. Any other application may be authorized by the vote of a majority of the outstanding voting stock voted at a meeting of the stockholders.    Notice of the application shall be sent to such persons and organizations as the banking board may require.    The banking board shall approve an application:   To change the name of the corporation if the proposed name is not deceptive or misleading;    To increase the total capital by increasing the amount of capital stock; but an amendment increasing the total capital shall not become effective until the banking board finds that the new capital has been fully paid in cash; except that amendments increasing the capital stock of the bank in the category of authorized but unissued stock shall be approved pursuant to the provisions of subsection (6) of this section.       In making its determination thereon, the banking board shall consider whether the public need and advantage would be served by granting the application and shall be guided by the standards prescribed for the approval of an application for a charter, insofar as they are reasonably applicable. In making its determination upon an application for change of location, the banking board shall consider the need and advantage of both the community or area of the community in which the bank will be located and the community or area of the community from which the bank will be moved.    A state bank, upon application to and approval by the banking board and by vote of two-thirds of the outstanding voting stock voted at a meeting of the stockholders, by an amendment of the articles of incorporation, may authorize an increase in the capital stock of the bank in the category of authorized but unissued stock. Such authorized but unissued stock may be issued from time to time to employees of the bank pursuant to stock option or stock purchase plans adopted in accordance with the provisions of section 11-103-101 (2)(h), or in exchange for convertible preferred stock or convertible capital debentures in accordance with the terms and provisions of such securities. Authorized but unissued stock may also be issued from time to time for such other purposes and considerations as may be approved by the board of directors of the state bank and the banking board.     History. Source: L. 2003: Entire article added with relocations, p. 1089, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-117 as it existed prior to 2003.
CO Code § 11-103-406 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 4 - Shares and Distributions|§ 11-103-406. Dividends - When Payable

 The board of directors of a state bank may declare dividends from retained earnings and from other components of capital specifically approved by the banking board so long as the declaration is made in compliance with the rules established by the banking board.   History. Source: L. 2003: Entire article added with relocations, p. 1090, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-118 as it existed prior to 2003.
CO Code § 11-103-503 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 5 - Directors and Officers|§ 11-103-503. Waiver of Notice - Meeting or Vote

  When a notice is required to be given to directors under this code, or the charter or bylaws of any state bank, a waiver thereof in writing, signed by the person entitled to said notice, either before or after the time stated therein, shall be deemed equivalent thereto.    If the vote of directors at a meeting thereof is required or permitted to be taken in connection with any corporate action by any section of this code, the meeting and vote of directors may be dispensed with, if all of the directors who would have been entitled to vote upon the action if such meeting were held consent in writing to such corporate action being taken.    In the event that the action that is consented to is such as would have required the filing of a certificate under any of the other sections of this code if such action had been voted upon by the directors at a meeting thereof, the certificate filed under such other section shall state that written consent has been given under this section.     History. Source: L. 2003: Entire article added with relocations, p. 1093, § 3, effective July 1.
CO Code § 11-103-602 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 6 - Indemnification and Insurance|§ 11-103-602. Indemnification and Personal Liability of Directors, Officers, Employees, and Agents

 A state bank has the same powers, rights, and obligations and is subject to the same limitations as apply to corporations for profit as set forth in article 109 of title 7. State bank directors, officers, employees, and agents have the same rights as directors, officers, employees, and agents, respectively, of corporations for profit as set forth in article 109 of title 7. State bank directors and officers have the benefit of the same limitations on personal liability for any injury to person or property arising out of a tort as set forth in section 7-108-403 , for directors and officers, respectively, of corporations for profit. Any reference in said sections to shareholders shall be construed to refer to stockholders for the purposes of this section.   History. Source: L. 2003: Entire article added with relocations, p. 1095, § 3, effective July 1. L. 2019: Entire section amended,(SB 19-086), ch. 166, p. 1966, § 69, effective July 1, 2020.    Editor's note:   This section is similar to former § 11-3-121 as it existed prior to 2003.
CO Code § 11-103-603 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 6 - Indemnification and Insurance|§ 11-103-603. Deposit Insurance - Membership in Federal Reserve System - Federal National Mortgage Association

  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.    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.     History. Source: L. 2003: Entire article added with relocations, p. 1095, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-3-122 as it existed prior to 2003.   ANNOTATION   This section specifically authorizes state banks to contract for insurance with the federal deposit insurance corporation. Atterson v. United States, 232 F.2d 837 (10th Cir.), cert. denied, 351 U.S. 975, 76 S. Ct. 1038, 100 L. Ed. 1492 (1956) (decided under repealed § 14-9-6 , CRS 53, which was similar to this section).
CO Code § 11-103-701 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 103 - Organization and Corporate Functions|Part 7 - Merger, Consolidation, Conversion, and Sale of Assets|§ 11-103-701. Merger or Conversion

  Upon approval of the banking board, banks may be merged with, or converted into, a resulting state bank as prescribed in this article; except that the action by a constituent national bank shall be taken in the manner prescribed by, and is subject to, any limitation or requirements imposed by any law of the United States, which law also governs the rights of its dissenting shareholders. Further, the action by a constituent bank chartered in another state shall be taken in the manner prescribed by, and is subject to, any limitation or requirements imposed by any law of the chartering state, which law also governs the rights of its dissenting shareholders.    Nothing in the law of this state restricts the right of a state bank to merge with, or convert into, a resulting national bank or bank chartered by another state. The action to be taken by a constituent state bank and its rights and liabilities and those of its shareholders are the same as those prescribed for national banks at the time of the action by the applicable laws of the United States or the other chartering state and not by the law of this state.     History. Source: L. 2003: Entire article added with relocations, p. 1095, § 3, effective July 1. L. 2013: Entire section amended,(SB 13-154), ch. 282, p. 1464, § 7, effective July 1.    Editor's note:   This section is similar to former § 11-4-102 as it existed prior to 2003.