2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › COMPLIANCE REVIEW DOCUMENTS (§§ 11-71-101 — 11-71-103) › Article 71 - CONFIDENTIALITY OF COMPLIANCE REVIEW DOCUMENTS (§§ 11-71-101 — 11-71-103) › Section 11-71-103 - Applicability of article - confidentiality of compliance review committee documents - definition

(1)
This article applies to a compliance review committee the functions of which are to evaluate and seek to improve:
(a)
Loan underwriting standards;
(b)
Asset quality;
(c)
Compliance with federal or state statutory or regulatory requirements;
(d)
Financial reporting to federal or state regulatory agencies; or
(e)
(I)
The ability of electronic computing devices and any other computers, software programs, databases, network information systems, firmware, microprocessors, internal time clocks, hardware, or any other device used to interpret, produce, calculate, compute, generate, compare, account for, or sequence a date from, into, or between the years 1999 and 2000.
(II)
For purposes of this paragraph (e), "electronic computing device" means any computer hardware or software, computer chip, embedded chip, process control equipment, or other information system that:
(A)
Is used to capture, store, manipulate, or process data; or
(B)
Controls, monitors, or assists in the operation of physical apparatus that is not primarily used as a computer but that relies on automation or digital technology to function, including but not limited to vehicles, vessels, buildings, structures, facilities, elevators, medical equipment, traffic signals, and factory machinery.
(f)
Repealed.
(2)
(a)
(I)
Except as provided in subsection (3) of this section, compliance review documents, including those which have been delivered to a federal or state governmental agency, are confidential and not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee.
(II)
Notwithstanding any provision to the contrary, this article shall not be construed to limit the discovery or admissibility in any civil action of documents that are not compliance review documents, including, but not limited to, books, records, loan documents, applications, and appraisals, and other documents otherwise prepared or maintained in the ordinary course of business.
(b)
No person shall testify in a civil proceeding concerning such person's participation in the collection, evaluation, reporting, or use of compliance review documents or about the contents of compliance review documents. Such testimony, if offered, is inadmissible in evidence.
(3)
Subsection (2) of this section shall not limit the ability of a governmental agency to examine, obtain, or use compliance review documents. Such compliance review documents shall remain confidential and not discoverable or admissible in evidence in any civil action by other than a governmental agency.
Amended by 2013 Ch. 316,§ 16, eff. 8/7/2013.
L. 95: Entire article added, p. 211, § 1, effective April 13. L. 99: (1)(c) amended and (1)(e) and (1)(f) added, p. 215, § 2, effective July 1. L. 2011: (1)(f)(I) and (1)(f)(II)(B) repealed, (HB 11-1303), ch. 264, p. 1149, §7, effective August 10. L. 2013: (1)(e) amended and (1)(f) repealed, (HB 13-1300), ch. 316, p. 1667, § 16, effective August 7.