reglab/housing_qa huggingface dataset:
CO Code § 11-109-903 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 109 - Trust Companies|Part 9 - Trust Practices|§ 11-109-903. Substitution of Trust Companies

 Trust companies created under this article may participate in the transfer of trust assets in the case of a substitution of one fiduciary for another under the provisions of sections 11-101-401 , 11-106-105 , and 11-106-106 .   History. Source: L. 2003: Entire article added with relocations, p. 1205, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-23-110.5 as it existed prior to 2003.
CO Code § 11-109-904 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 109 - Trust Companies|Part 9 - Trust Practices|§ 11-109-904. Laws Governing Individuals Apply

 A trust company in the exercise of its fiduciary powers shall be subject to the same duties, liabilities, and penalties as an individual fiduciary acting in like capacity.   History. Source: L. 2003: Entire article added with relocations, p. 1205, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-23-111 as it existed prior to 2003.
CO Code § 11-109-905 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 109 - Trust Companies|Part 9 - Trust Practices|§ 11-109-905. Separation of Fiduciary Funds

 A trust company shall keep fiduciary funds and investments separate and apart from its own assets. All investments made as a fiduciary shall be so designated so that fiduciary funds may be clearly identified.   History. Source: L. 2003: Entire article added with relocations, p. 1205, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-23-112 as it existed prior to 2003.
CO Code § 11-109-906 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 109 - Trust Companies|Part 9 - Trust Practices|§ 11-109-906. Funds Awaiting Investment or Distribution

 Funds held by a trust company in a fiduciary capacity that are awaiting investment or distribution shall not be held uninvested or undistributed any longer than is reasonable for the proper management of the account. Funds held in trust by a trust company awaiting investment or distribution may, unless prohibited by the instrument creating the trust, be deposited in an account with the trust company as provided in section 11-109-201 (1)(d) .   History. Source: L. 2003: Entire article added with relocations, p. 1205, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-23-113 as it existed prior to 2003.
CO Code § 11-109-907 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 109 - Trust Companies|Part 9 - Trust Practices|§ 11-109-907. Extensions of Credit

  A trust company shall not make any loans or extensions of credit except as provided in subsection (2) of this section.    A trust company may:   Make a loan or extend credit to its officers, directors, and employees if such loan or credit is adequately secured and does not involve more than the normal risk of default or present other unfavorable features. Any loan or extension of credit in excess of twenty-five thousand dollars shall be subject to prior approval by the banking board.    Establish with one or more broker-dealers margin accounts in its name as fiduciary or custodian for the benefit of the owners or beneficiaries of such accounts.        History. Source: L. 2003: Entire article added with relocations, p. 1206, § 3, effective July 1. L. 2008: Entire section amended, p. 1502, § 3, effective May 28. L. 2013: (1) and IP(2) amended,(SB 13-154), ch. 282, p. 1485, § 58, effective July 1.    Editor's note:   This section is similar to former § 11-23-114 as it existed prior to 2003.
CO Code § 11-110-101 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-101. Short Title

 The short title of this article 110 is the “Money Transmitters Act”.   History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 575, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-101 as it existed prior to 2017.
CO Code § 11-110-102 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-102. Legislative Declaration

 It is declared to be the policy of this state that checks, drafts, money orders, or other instruments for the transmission or payment of credit or money are widely used by the people of this state as a process of settling accounts or debts and that sellers and issuers of the instruments receive, in the aggregate, large sums of money from the people of this state and it is therefore imperative that the integrity, experience, and financial responsibility and reliability of those engaged in the various types of businesses dealing in the instruments be above reproach. In order that the people of this state may be safeguarded from default in the payment of these instruments, it is necessary that proper regulatory authority be established through the banking board. Any person who sells or issues the instruments without complying with the provisions of this article 110 endangers the public interest.   History. Source: L. 2017: Entire section added with relocations,(SB 17-226), ch. 159, p. 575, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-102 as it existed prior to 2017.
CO Code § 11-110-104 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-104. Applicability of Powers of Banking Board and Bank Commissioner to Money Orders

 The powers, duties, and functions of the banking board and the commissioner contained in article 102 of this title 11 and the declaration of policy contained in section 11-101-102 shall apply to the provisions of this article 110. For the purposes of this section and section 11-102-104 , the banking board shall have the same powers, duties, and functions concerning a violation of this article 110 or a rule issued pursuant to this article 110 as the board has concerning a violation of the “Colorado Banking Code”, a statute, or a rule issued pursuant to that code.   History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 577, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-103.5 as it existed prior to 2017.
CO Code § 11-110-105 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-105. License Required - Investigations

  A person shall not engage in the business of money transmission without first procuring a license from the board; except that an agent, subagent, or representative of a licensee or an employee of an agent, subagent, or representative who acts on behalf of a licensee in the transmission of money by the licensee is not required to be licensed under this article 110.    The board may investigate any person believed to be engaging in the business of money transmission without a valid license required under this section.     History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 577, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-104 as it existed prior to 2017.
CO Code § 11-110-106 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-106. Exemptions

 Nothing in this article 110 shall apply to: Departments or agencies of the United States of America, or to any state or municipal government, or to corporations organized under the general banking, savings and loan, or credit union laws of this state or of the United States, or to the receipt of money by an incorporated telegraph or cable company at any office or agency thereof for immediate transmission by telegraph or cable.   History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 578, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-105 as it existed prior to 2017.
CO Code § 11-110-107 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-107. Application for License

  Application for a license shall be made in writing, under oath, to the banking board on such form as it may prescribe. The application shall:   State the name of the applicant and the address of his or her principal office;    Contain evidence that the applicant possesses qualifications and experience as required by the banking board pursuant to rule. If the applicant is a joint stock association, common law trust, unincorporated company or association, limited liability company, or corporation, the secretary or any assistant secretary thereof shall certify the name and address of each of the officers, directors, trustees, or other managing officials together with a designation of the office or offices held by each and evidence that each individual possesses the qualifications and experience required by the banking board pursuant to rule and shall submit the certificate to the banking board with the application.    State the date and place of incorporation;    If the applicant has one or more branches, subsidiaries, affiliates, agents, or other locations at or through which the applicant proposes to engage in the business of issuing checks, drafts, money orders, or other instruments for the transmission or payment of money or credit, state the name and address of each such location;    Contain a set of fingerprints for each of the owners, principal shareholders, principal members, directors, trustees, officers, or other managing officials. The commissioner shall forward the fingerprints to the Colorado bureau of investigation for the purpose of obtaining a fingerprint-based criminal history record check. Upon receipt of fingerprints and payment for the costs, the Colorado bureau of investigation shall conduct a state and national fingerprint-based criminal history record check utilizing records of the Colorado bureau of investigation and the federal bureau of investigation. The board shall be the authorized agency to receive information regarding the result of any national criminal history record check. Only the actual costs of the record check shall be borne by the applicant.    Contain such other data, financial statements, and pertinent information as the banking board may require from time to time with respect to the applicant or its directors, trustees, officers, members, branches, subsidiaries, affiliates, or agents.       Each application for a license shall be accompanied by financial statements of the applicant and a bond in the form and the amount specified in this article 110.     History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 578, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-106 as it existed prior to 2017.
CO Code § 11-110-107.5 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-107.5. Name-Based Criminal History Record Check

 When the results of a fingerprint-based criminal history record check of an applicant performed pursuant to section 11-110-107 (1)(e) reveal a record of arrest without a disposition, the banking board shall require that applicant to submit to a name-based criminal history record check, as defined in section 22-2-119.3 (6)(d) . The applicant shall pay the actual costs of the name-based criminal history record check.   History. Source: L. 2019: Entire section added, (HB 19-1166), ch. 125, p. 539, § 6, effective April 18.
CO Code § 11-110-109 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-109. Issuance of License

  Upon the filing of an application, the commissioner shall investigate the applicant. The applicant shall pay for the cost of the investigation. If the board finds that the applicant is of good moral character and financially responsible and can comply with this article 110, the board shall approve the application and notify the applicant in writing that its approval expires six months after the approval date. Once the approved applicant has notified the board that he or she is prepared to commence operations in Colorado, posted the required bond, and paid the license fee, the board shall issue to the applicant a license to engage in the business of money transmission subject to this article 110.    No license shall be issued to an applicant, if a natural person, unless he or she is over twenty-one years of age; or if a partnership or syndicate, unless each of the partners is over twenty-one years of age; or if a joint stock association, common law trust, unincorporated company or association, or corporation, unless each of the officers, directors, trustees, or other managing officials is over twenty-one years of age.    If the board denies an application, the board shall, within thirty days thereafter, prepare and file in its office a written order of denial, which must contain the board's findings and reasons supporting the denial and, within ten days after filing the order, the board shall notify the applicant and send him or her a copy of the order. The applicant may request a hearing by the board by submitting a written request to the board within sixty days after receiving notice as specified in section 24-4-104 (9) and if so requested the board shall hold a hearing as specified in section 24-4-105.    A license shall not be issued to an applicant if an owner, principal shareholder, principal member, director, trustee, officer, or other managing official:   Submitted a license application under this article 110 that was false or misleading as a result of an untrue statement of a material fact or an omission to state a material fact unless the applicant did not know, and in the exercise of reasonable care should not have known, of the untruth or omission;    Willfully violated or willfully failed to comply with this article 110 or a rule promulgated or order issued under this article 110;    Within the past ten years, entered a plea of guilty or nolo contendere to, or was convicted of, a felony or misdemeanor involving a breach of fiduciary duty or fraud; or    Is subject to a temporary or permanent injunction for violating a state or federal law regulating the financial services industry, including, but not limited to, federal provisions regarding money laundering, record keeping, and registration.        History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 581, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-108 as it existed prior to 2017.
CO Code § 11-110-110 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-110. Issuance of License - Renewal - Fee

  Before any license is issued, and annually thereafter on or before January 1 of each succeeding year, the applicant or licensee shall pay to the banking board a license fee in an amount set by the banking board pursuant to section 11-102-104 (11). For each license originally issued between July 1 and December 31 of any year, the applicant shall pay one-half the annual fee required in this section. Each license shall expire on January 1 unless the annual fee for the year has been paid prior to that date.    Beginning July 1, 1977, before any license may be renewed, the licensee shall be required to provide the same amount of bond coverage or securities for deposit as an initial applicant under section 11-110-108.     History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 582, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-109 as it existed prior to 2017.
CO Code § 11-110-112 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-112. Change in Control - Rule

     Except as specified in subsection (1)(b) or (1)(c) of this section, when a licensee proposes a change of control, the licensee shall:   Give the commissioner written notice of the proposed change of control within fifteen days after learning of the proposed change of control;    Request approval of the change of control; and    Submit a nonrefundable fee in an amount established under section 11-102-104 (11) with the notice.       The board, by rule or order, may exempt a person from any of the requirements of subsection (1)(a)(II) or (1)(a)(III) of this section if the board finds that it is in the public interest to do so.    This subsection (1) does not apply to a public offering of securities.       After review of a request for approval under subsection (1) of this section, the board may require the licensee to provide additional information concerning the persons proposed to control the licensee. The additional information must be limited to the same types required of the licensee or persons in control of the licensee as part of its original license or renewal application.    The board shall approve a request for change of control under subsection (1) of this section if, after investigation, the board determines that the person or group of persons requesting approval has the competence, experience, character, and general fitness to operate the licensee or person in control of the licensee in a lawful and proper manner and that the public interest will not be jeopardized by the change of control.    When an application for a change of control under this section is complete, the board shall give written notice to the licensee of the date on which the board determined the request to be complete and the date on which the board will hold a hearing on the application.    Before filing a request for approval to acquire control of a licensee or of a person in control of a licensee, a person may file a written request for a determination from the board as to whether the person would be considered a person in control of a licensee upon consummation of a proposed transaction. If the board determines that the person would not be a person in control of a licensee, the board shall provide to the person written notification to that effect and the proposed person and transaction are not subject to the requirements of subsections (1) to (3) of this section.     History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 583, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-110.3 as it existed prior to 2017.
CO Code § 11-110-113 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-113. Compliance With Federal Law

 Each licensee shall comply with state and federal money laundering laws, including, but not limited to, the federal “Bank Secrecy Act”, 12 U.S.C. sec. 1951 et seq.   History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 584, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-110.5 as it existed prior to 2017.
CO Code § 11-110-114 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-114. Multiple Locations

  Each licensee may conduct business at locations within this state the licensee may desire and through agents and subagents the licensee may from time to time appoint. Each licensee shall notify the board by certified mail of any increase in the number of locations at which it conducts its business and shall provide proof that the licensee has increased the required bond or securities accordingly. The notification and proof are due on the date on which the licensee's next report required under section 11-110-111 (2)(b) is due.    [ ] Each licensee may, without violating section 5-2-212, notwithstanding whether or not a facility or mode only accepts credit cards, conduct business through physical and electronic facilities, including by telephone and internet, and may charge a different price for the provision of services based upon the type of facility or mode of services used in the transaction so long as the price for the service within a single such facility or mode is not greater for a credit card than for other forms of payment.    Editor's note: This version of this subsection (2) is effective until July 1, 2022.  (2) [ ] Each licensee may, notwithstanding whether a facility or mode only accepts credit cards, conduct business through physical and electronic facilities, including by telephone and internet, and may charge a different price for the provision of services based upon the type of facility or mode of services used in the transaction.  Editor's note: This version of this subsection (2) is effective July 1, 2022.  History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 584, § 2, effective August 9. L. 2021: (2) amended,(SB 21-091), ch. 476, p. 3406, § 2, effective July 1, 2022.    Editor's note:   This section is similar to former § 12-52-111 as it existed prior to 2017.
CO Code § 11-110-115 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-115. Revocation or Surrender of License

  The banking board may, upon ten days' notice served personally upon the licensee stating the contemplated action and the grounds therefor, hold a hearing at which the licensee shall have a reasonable opportunity to be heard, for the purpose of determining whether a license should be revoked.    After the hearing the banking board may revoke any license issued under this article 110 if it finds that:   The licensee has failed to maintain the required bond; or    The licensee has failed to comply with any order, decision, or finding of the banking board or the commissioner made pursuant to this article 110; or    The licensee has violated any provision of this article 110; or    Facts exist that would have warranted the banking board's refusal to issue the original license; or    The licensee is engaged in a business a substantial portion of which involves the processing, manufacture, or purchase and sale of commodities or articles of tangible personal property and the licensee has failed to maintain constantly a separate bank deposit account or accounts for the exclusive payment of exchange issued by the licensee; or    The licensee has sold or issued exchange without receiving payment for the face value of the exchange prior to the time of the sale or issuance.       A licensee may surrender any license by delivering to the banking board written notice that he or she surrenders the license, but the surrender shall not affect the licensee's civil or criminal liability for acts committed prior to the surrender, or affect the liability on any bond, or entitle the licensee to a return of any part of any license fee.     History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 585, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-112 as it existed prior to 2017.
CO Code § 11-110-116 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 110 - Money Transmitters|Part 1 - General Provisions|§ 11-110-116. Rules

 The banking board may make, promulgate, alter, amend, or revise reasonable rules as may be necessary for the enforcement and execution of this article 110.   History. Source: L. 2017: Entire article added with relocations,(SB 17-226), ch. 159, p. 585, § 2, effective August 9.    Editor's note:   This section is similar to former § 12-52-113 as it existed prior to 2017.