reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-115 - [Effective Until 8/7/2024] Officers to furnish schedule of property

Upon taking possession of the property, business, and assets of any association, the commissioner shall require the president and secretary of such association to make a schedule of all its property and assets and of all collateral held by it as security for loans, and to make oath that such schedule sets forth all such property, assets, and collateral which such association owns or to which it is entitled, and to deliver such schedule and the possession of all such property and collateral as may not have been so previously delivered to the commissioner, who may examine under oath such president and secretary, the other officers of such association, or the directors, agents, or employees thereof at any time to determine whether or not all the property, assets, and collateral which such association owns or to which it is entitled have been transferred and delivered into his possession.
L. 33: p. 344, § 14. CSA: C. 25, § 60. CRS 53: § 122-6-15. C.R.S. 1963: § 122-5-15.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-115 - [Effective 8/7/2024] Officers to furnish schedule of property

(1)
Upon taking possession of the property, business, and assets of an association, the commissioner shall require the president and secretary of the association to:
(a)
Make a schedule of all of the association's property and assets and all collateral held by the association as security for loans;
(b)
State under oath that the schedule sets forth all property, assets, and collateral that the association owns or to which it is entitled; and
(c)
Deliver to the commissioner the schedule and the possession of all property and collateral that has not been previously delivered to the commissioner.
(2)
The commissioner may examine the president and secretary, the other officers of the association, or the directors, agents, or employees under oath at any time to determine whether all the property, assets, and collateral that the association owns or to which it is entitled have been transferred and delivered to the commissioner.
Amended by 2024 Ch. 350,§ 51, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 33: p. 344, § 14. CSA: C. 25, § 60. CRS 53: § 122-6-15. C.R.S. 1963: § 122-5-15.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-117 - [Effective Until 8/7/2024] Setoffs

Credits on loan shares of all persons indebted to any savings and loan association in the possession of the commissioner, whether such indebtedness is due or to become due, shall be applied by him on account of such indebtedness.
L. 33: p. 349, § 16. CSA: C. 25, § 62. CRS 53: § 122-6-17. C.R.S. 1963: § 122-5-17.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-117 - [Effective 8/7/2024] Setoffs

Credits on loan shares of all persons indebted to any savings and loan association in the possession of the commissioner, whether the indebtedness is due or to become due, shall be applied by the commissioner on account of the indebtedness.
Amended by 2024 Ch. 350,§ 53, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 33: p. 349, § 16. CSA: C. 25, § 62. CRS 53: § 122-6-17. C.R.S. 1963: § 122-5-17.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-118 - [Effective Until 8/7/2024] Commissioner and deputy not to accept gifts

Neither the commissioner nor his deputy shall receive or accept any bribe, gratuity, or reward from any person or association for any purpose whatever or knowingly and willfully make any false or fraudulent report of the condition of any association for any purpose whatsoever. One or more of the directors of any association may be present at any examination of the affairs thereof, but the absence of any or all of the officers or directors shall not operate to prevent the commissioner or his deputy from proceeding with such examination.
L. 33: p. 349, § 17. CSA: C. 25, § 63. CRS 53: § 122-6-18. C.R.S. 1963: § 122-5-18.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-118 - [Effective 8/7/2024] Commissioner and deputy not to accept gifts

Neither the commissioner nor the commissioner's deputy shall receive or accept any bribe, gratuity, or reward from any person or association for any purpose or knowingly and willfully make any false or fraudulent report of the condition of any association for any purpose. One or more of the directors of an association may be present at an examination of the affairs of an association, but the absence of any or all of the officers or directors does not prevent the commissioner or the commissioner's deputy from proceeding with an examination.
Amended by 2024 Ch. 350,§ 54, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 33: p. 349, § 17. CSA: C. 25, § 63. CRS 53: § 122-6-18. C.R.S. 1963: § 122-5-18.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-119 - Association's right to resort to court

Nothing in articles
40
to
46
of this title shall be construed to prevent an association or person affected by any order, ruling, proceeding, act, or action of the commissioner or the financial services board or any person acting on behalf and at the instance of the commissioner or the financial services board, or both, from testing the validity of the same in any court of competent jurisdiction, through injunction, appeal, or other proper process or proceeding, mandatory or otherwise.
L. 33: p. 350, § 18. CSA: C. 25, § 64. CRS 53: § 122-6-19. C.R.S. 1963: § 122-5-19. L. 93: Entire section amended, p. 1453, § 12, effective June 6.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-120 - [Effective Until 8/7/2024] Records of commissioner

(1)
The commissioner shall maintain annually revised summaries disclosing the names of the officers and directors of all savings and loan associations doing business in the state of Colorado during the preceding year, the financial condition of such savings and loan associations, together with a statement of the assets, liabilities, and reserves of the associations, and such other information concerning the same as he may see fit.
(2)
These data and any other material circulated in quantity outside the executive branch shall be issued in accordance with the provisions of section
24-1-136
, C.R.S.
(3)
Repealed.
L. 33: p. 350, § 19. CSA: C. 25, § 65. L. 39: p. 251, § 23. CRS 53: § 122-6-20. L. 64: p. 169, § 133. C.R.S. 1963: § 122-5-20. L. 83: (2) and (3) amended, p. 827, § 9, effective July 1. L. 96: (3) repealed, p. 1231, § 55, effective August 7.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
For the legislative declaration contained in the 1996 act repealing subsection (3), see section 1 of chapter 237, Session Laws of Colorado 1996.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-120 - [Effective 8/7/2024] Records of commissioner

(1)
The commissioner shall maintain annually revised summaries disclosing:
(a)
The names of the officers and directors of all savings and loan associations doing business in the state during the preceding year;
(b)
The financial condition of the savings and loan associations, including a statement of the assets, liabilities, and reserves of the associations; and
(c)
any other information concerning the savings and loan associations as the commissioner deems fit to include.
(2)
These data and any other material circulated in quantity outside the executive branch shall be issued in accordance with the provisions of section
24-1-136
, C.R.S.
(3)
Repealed.
Amended by 2024 Ch. 350,§ 55, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 33: p. 350, § 19. CSA: C. 25, § 65. L. 39: p. 251, § 23. CRS 53: § 122-6-20. L. 64: p. 169, § 133. C.R.S. 1963: § 122-5-20. L. 83: (2) and (3) amended, p. 827, § 9, effective July 1. L. 96: (3) repealed, p. 1231, § 55, effective August 7.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
For the legislative declaration contained in the 1996 act repealing subsection (3), see section 1 of chapter 237, Session Laws of Colorado 1996.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-121 - [Repealed]

L. 55: p. 764, § 11. CRS 53: § 122-6-21. C.R.S. 1963: § 122-5-21. L. 2004: Entire section repealed, p. 140, § 25, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-122 - Waiver of membership or stockholder voting

Notwithstanding any other provision of state law, whenever the commissioner finds that it is necessary to effect a merger, consolidation, purchase and assumption agreement, conversion to stock association, conversion to mutual association, conversion to federal association, or conversion to state association or other action, as a result of the assets of any association being impaired to the extent that it threatens loss to the withdrawable shares or the association being in an unsafe condition and the time required to give proper notice and hold a meeting to vote on the action is deemed by the commissioner to increase the threat of loss to the withdrawable shares, the commissioner may waive the requirement of a membership or stockholder vote on the action. There shall be no requirement of prior written notice to the affected parties of said waiver.
L. 82: Entire section added, p. 247, § 3, effective March 25.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 44 - DIVISION OF FINANCIAL SERVICES (§§ 11-44-101 — 11-44-124) › Section 11-44-124 - [Effective 8/7/2024] Repeal of article - review of functions

This article 44 is repealed, effective September 1, 2033. Before the repeal, the division and the board are scheduled for review in accordance with section 24-34-104.
Added by 2024 Ch. 350,§ 2, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 45 - CONVERSION (§§ 11-45-101 — 11-45-103) › Section 11-45-101 - [Effective Until 8/7/2024] Conversion into federal association

(1)
Any savings and loan association or other home-financing organization, by whatever name or style it may be designated, which is eligible to become a federal savings and loan association may convert itself into a federal savings and loan association by the following procedure:
(a)
At any regular or special meeting of the shareholders of any such association called to consider such action and held in accordance with the laws governing such association, such shareholders, by an affirmative vote of the shareholders owning and voting the number of shares required for authorization of the sale of the association's assets or required to accomplish a consolidation or a merger, whichever is the greater, present in person or by proxy, may declare by resolution the determination to convert said association into a federal savings and loan association.
(b)
A copy of the minutes of such meeting of the shareholders, verified by the affidavit of the president or vice-president and the secretary of the meeting, shall be filed within ten days after said meeting in the office or division of this state having supervision of such association. Such verified copy of the minutes of such meeting when so filed shall be presumptive evidence of the holding and of the action of such meeting.
(c)
Within a reasonable time and without any unnecessary delay after the adjournment of such meeting of shareholders, the association shall take such action as may be necessary to make it a federal savings and loan association, and, within ten days after receipt of the federal charter, there shall be filed in the office or division of this state having supervision of such association a copy of said charter issued to such association by the office of thrift supervision or its successor or a certificate showing the organization of such association as a federal savings and loan association certified by, or on behalf of, the office of thrift supervision or its successor. Upon the filing of such instrument, such association shall cease to be a state association and shall thereafter be a federal savings and loan association.
L. 35: p. 263, § 1. CSA: C. 25, § 67. CRS 53: § 122-7-1. C.R.S. 1963: § 122-6-1. L. 2004: (1)(c) amended, p. 140, § 26, effective July 1.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 45 - CONVERSION (§§ 11-45-101 — 11-45-103) › Section 11-45-101 - [Effective 8/7/2024] Conversion into federal association

(1)
Any savings and loan association or other home-financing organization, by whatever name or style it may be designated, that is eligible to become a federal savings and loan association may convert itself into a federal savings and loan association by the following procedure:
(a)
At any regular or special meeting of the shareholders of any such association called to consider such action and held in accordance with the laws governing such association, such shareholders, by an affirmative vote of the shareholders owning and voting the number of shares required for authorization of the sale of the association's assets or required to accomplish a consolidation or a merger, whichever is the greater, present in person or by proxy, may declare by resolution the determination to convert said association into a federal savings and loan association.
(b)
A copy of the minutes of such meeting of the shareholders, verified by the affidavit of the president or vice-president and the secretary of the meeting, shall be filed within ten days after said meeting in the office or division of this state having supervision of such association. Such verified copy of the minutes of such meeting when so filed shall be presumptive evidence of the holding and of the action of such meeting.
(c)
Within a reasonable time and without any unnecessary delay after the adjournment of the meeting of shareholders, the association shall take any action that may be necessary to make it a federal savings and loan association.
Amended by 2024 Ch. 350,§ 65, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 35: p. 263, § 1. CSA: C. 25, § 67. CRS 53: § 122-7-1. C.R.S. 1963: § 122-6-1. L. 2004: (1)(c) amended, p. 140, § 26, effective July 1.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 45 - CONVERSION (§§ 11-45-101 — 11-45-103) › Section 11-45-102 - Effect of conversion

At the time when such conversion becomes effective, such association shall cease to be supervised by this state, and all of the property of such association, including all of its right, title, and interest in and to all property of every kind and character, whether real, personal, or mixed, immediately by operation of law and without any conveyance or transfer whatsoever and without any further act or deed, shall continue to be vested in said association under its new name and style as a federal savings and loan association and under its new jurisdiction; and said federal savings and loan association shall have, hold, and enjoy the same in its own right as fully and to the same extent as if the same were possessed, held, and enjoyed by it as a state association, and said federal savings and loan association, at the time of the taking effect of such conversion, shall continue to be responsible for all of the obligations of said state association to the same extent as though said conversion had not taken place. It is expressly declared that such federal savings and loan association shall be merely a continuation of the state association under a new name, a new jurisdiction, and such revision of its corporate structure as may be considered necessary for its proper operation under said new jurisdiction.
L. 35: p. 265, § 2. CSA: C. 25, § 68. CRS 53: § 122-7-2. C.R.S. 1963: § 122-6-2.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 45 - CONVERSION (§§ 11-45-101 — 11-45-103) › Section 11-45-103 - [Effective Until 8/7/2024] Conversion into state association

(1)
Any federal savings and loan association may convert itself into an association under articles
40
to
46
of this title by the majority vote of all members present in person or by proxy at an annual meeting or at any special meeting called to consider such action. Copies of the minutes of the proceedings of such meeting of members, verified by the affidavit of the secretary or an assistant secretary, shall be filed in the office of the commissioner and mailed to the office of thrift supervision, or its successor, within ten days after such meeting. Such verified copies of the proceedings of the meeting when so filed shall be prima facie evidence of the holding and action of such meeting.
(2)
At the meeting at which conversion is voted upon, the members shall also vote upon the directors who shall be the directors of the state-chartered association after conversion takes effect. Such directors shall then execute two copies of the certificate of incorporation and four copies of the bylaws. The directors chosen for the association shall all sign and acknowledge the certificate of incorporation as subscribers thereto and the bylaws as incorporators of the association. The commissioner may provide, by regulation, for the procedure to be followed by any such federal savings and loan association converting into an association under articles
40
to
46
of this title. The state-chartered association shall be a continuation of the corporate entity of the converting federal association and continue to have all of its property and rights.
L. 39: p. 251, § 24. CSA: C. 25, § 68(1). CRS 53: § 122-7-3. C.R.S. 1963: § 122-6-3. L. 2004: (1) amended, p. 140, § 27, effective July 1.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 45 - CONVERSION (§§ 11-45-101 — 11-45-103) › Section 11-45-103 - [Effective 8/7/2024] Conversion into state association

(1)
Any federal savings and loan association may convert itself into an association under articles 40 to 46 of this title 11 by the majority vote of all members present in person or by proxy at an annual meeting or at any special meeting called to consider the action. Copies of the minutes of the proceedings of the meeting of members, verified by the affidavit of the secretary or an assistant secretary, shall be filed in the office of the commissioner within ten days after the meeting. the verified copies of the proceedings of the meeting when filed are prima facie evidence of the holding and action of the meeting.
(2)
At the meeting at which conversion is voted upon, the members shall also vote upon the directors who shall be the directors of the state-chartered association after conversion takes effect. Such directors shall then execute two copies of the certificate of incorporation and four copies of the bylaws. The directors chosen for the association shall all sign and acknowledge the certificate of incorporation as subscribers thereto and the bylaws as incorporators of the association. The commissioner may provide, by regulation, for the procedure to be followed by any such federal savings and loan association converting into an association under articles
40
to
46
of this title. The state-chartered association shall be a continuation of the corporate entity of the converting federal association and continue to have all of its property and rights.
Amended by 2024 Ch. 350,§ 66, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 39: p. 251, § 24. CSA: C. 25, § 68(1). CRS 53: § 122-7-3. C.R.S. 1963: § 122-6-3. L. 2004: (1) amended, p. 140, § 27, effective July 1.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-101 - Definitions

As used in this article, unless the context otherwise requires:
(1)
"Fiduciary" means any person as defined in section
15-1-103(2)
, C.R.S.
(2)
"Lease" means the contract between lessor and lessee governing the use, payment, and other terms and conditions with regard to a safe deposit box.
(3)
"Lessee" means a person contracting with a lessor for the use of a safe deposit box.
(4)
"Lessor" means any association defined in section
11-46-102
which maintains safe deposit facilities.
(5)
"Person" means any natural person, partnership, whether limited or general, corporation, or entity leasing a safe deposit box.
(6)
"Safe deposit box" means any vault, box, receptacle, or other safekeeping facility maintained by a lessor for lease to third persons.
L. 59: p. 664, § 7. CRS 53: § 122-8-2. C.R.S. 1963: § 122-7-2.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-102 - Safe deposit boxes

Any savings and loan associations organized under articles
40
to
46
of this title and any federal savings and loan associations organized under the "Home Owners' Loan Act of 1933", as amended, except to the extent that laws, rules, and regulations under which they operate are inconsistent with this article, may engage in the business of leasing safe deposit boxes in accordance with the provisions of this article.
L. 59: p. 664, § 7. CRS 53: § 122-8-1. C.R.S. 1963: § 122-7-1.
For the "Home Owners' Loan Act of 1933", see Pub.L. 73-43, codified at 12 U.S.C. § 1461 et seq.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-103 - Lease to natural persons

A lessor may lease a safe deposit box to any natural person and, in connection therewith, deal with such person without liability until there is filed with such lessor a certified copy of any order of a Colorado court indicating that such person is under a legal disability and directing the lessor to deal with such person's fiduciary.
L. 59: p. 665, § 7. CRS 53: § 122-8-5. C.R.S. 1963: § 122-7-5.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-104 - Leases to joint tenants

(1)
Any lessor may lease a safe deposit box to one or more natural persons as joint tenants, and any one of such joint tenants shall have the right of access to such safe deposit box.
(2)
Upon the death of any joint tenant, the provisions of section
15-10-111
, C.R.S., and of this section with regard to examination shall apply.
(3)
Nothing in this section shall be construed to prevent the making of leases for safe deposit boxes, the terms of which may require the signature and presence of more than one person as a condition for access to said box.
L. 59: p. 665, § 7. CRS 53: § 122-8-6. C.R.S. 1963: § 122-7-6. L. 73: p. 1650, § 15. L. 81: (2) amended, p. 1883, § 1, effective May 27. L. 2002: (2) amended, p. 1360, § 8, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-105 - Access by fiduciaries

(1)
Where a safe deposit box is made available by a lessor to one or more persons acting as fiduciaries, the lessor may, except as otherwise expressly provided in the lease or the instrument of authority pursuant to which such fiduciaries are acting and copies of which have been furnished the lessor, allow access thereto as follows:
(a)
By any one or more of the persons acting as executors or administrators;
(b)
By any one or more of the persons otherwise acting as fiduciaries when authorized in writing and signed by all other persons so acting;
(c)
By any agent authorized in writing and signed by all of the persons acting as fiduciaries.
L. 59: p. 665, § 7. CRS 53: § 122-8-3. C.R.S. 1963: § 122-7-3.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-106 - [Effective Until 8/7/2024] Effect of lessee's death or incompetence

Where a lessor, without written notice or actual knowledge of the death or of a determination of legal incompetence of the lessee, deals with said lessee or his agent pursuant to a written power of attorney signed by such lessee, the transaction binds the lessor and the estate of the lessee.
L. 59: p. 665, § 7. CRS 53: § 122-8-4. C.R.S. 1963: § 122-7-4. L. 75: Entire section amended, p. 922, § 8, effective July 1; entire section amended, p. 207, § 9, effective July 16.
Amendments to this section by Senate Bill 75-135 and Senate Bill 75-453 were harmonized.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-106 - [Effective 8/7/2024] Effect of lessee's death or incompetence

if a lessor, without written notice or actual knowledge of the death or of a determination of legal incompetence of the lessee, deals with the lessee or the lessee's agent pursuant to a written power of attorney signed by the lessee, the transaction binds the lessor and the estate of the lessee.
Amended by 2024 Ch. 350,§ 56, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 59: p. 665, § 7. CRS 53: § 122-8-4. C.R.S. 1963: § 122-7-4. L. 75: Entire section amended, p. 922, § 8, effective July 1; entire section amended, p. 207, § 9, effective July 16.
Amendments to this section by Senate Bill 75-135 and Senate Bill 75-453 were harmonized.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-107 - Search procedure on death

The provisions of section
15-10-111
, C.R.S., shall apply to the search procedure of a safe deposit box on the death of a lessee.
L. 59: p. 666, § 7. CRS 53: § 122-8-7. C.R.S. 1963: § 122-7-7. L. 73: p. 1650, § 16.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-108 - [Effective Until 8/7/2024] Adverse claims to contents of safe deposit box

(1)
A lessor shall not deny access to a safe deposit box to its lessee unless the claim of said lessee is adverse within the terms of this section. A claim shall be considered adverse when:
(a)
The lessor is directed to deny such access by a court order issued in an action in which the lessee is served with process and named as a party by a name which identified him with the name in which the safe deposit box is leased; or
(b)
The safe deposit box is leased or the property is held in the name of a lessee with the addition of words indicating that the contents or property are held in a fiduciary capacity for a named beneficiary and the adverse claim is supported by a sworn written statement of facts disclosing that it is made by or on behalf of such a beneficiary and that there is reason to know that the fiduciary may misappropriate the trust property; or
(c)
One of several lessees claims, contrary to the terms of the lease, an exclusive right of access, or when one or more persons claim a right of access as agents or officers of a lessee to the exclusion of others as agents or officers, or when it is claimed that a lessee is the same person as one using another name.
L. 59: p. 666, § 7. CRS 53: § 122-8-8. C.R.S. 1963: § 122-7-8.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-108 - [Effective 8/7/2024] Adverse claims to contents of safe deposit box

(1)
A lessor shall not deny access to a safe deposit box to a lessee unless the lessee's claim is adverse within the terms of this section. A claim is adverse when:
(a)
The lessor is directed to deny access by a court order issued in an action in which the lessee is served with process and named as a party by a name that identified the lessee with the name in which the safe deposit box is leased; or
(b)
The safe deposit box is leased or the property is held in the name of a lessee with the addition of words indicating that the contents or property are held in a fiduciary capacity for a named beneficiary and the adverse claim is supported by a sworn written statement of facts disclosing that it is made by or on behalf of such a beneficiary and that there is reason to know that the fiduciary may misappropriate the trust property; or
(c)
One of several lessees claims, contrary to the terms of the lease, an exclusive right of access, or when one or more persons claim a right of access as agents or officers of a lessee to the exclusion of others as agents or officers, or when it is claimed that a lessee is the same person as one using another name.
Amended by 2024 Ch. 350,§ 57, eff. 8/7/2024, app. to the operations of the division of financial services, the commissioner of financial services, the financial services board, credit unions, savings and loan associations, and life care institutions on or after 8/7/2024, including the imposition of fines by the commissioner of financial services against a person who violates a cease-and-desist order or a suspension or removal order.
L. 59: p. 666, § 7. CRS 53: § 122-8-8. C.R.S. 1963: § 122-7-8.
2024 Ch. 350, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 46 - SAFE DEPOSIT FACILITIES (§§ 11-46-101 — 11-46-109) › Section 11-46-109 - Nonpayment of rent

If the rental on a safe deposit box has not been paid for one year after it is due, the lessor may petition a court of competent jurisdiction to make disposition of the contents of such safe deposit box, and the lessor shall have the right to claim and accept any proceeds from such disposition to satisfy accumulated charges, court costs, and attorneys' fees in connection with the rental and disposition of said safe deposit box.
L. 59: p. 667, § 7. CRS 53: § 122-8-9. C.R.S. 1963: § 122-7-9.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-101 - Short title

This article shall be known and may be cited as the "Savings and Loan Association Public Deposit Protection Act".
L. 75: Entire article added, p. 399, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-102 - Legislative declaration

(1)
The general assembly declares that the purpose of this article is to provide protection of public moneys on deposit in state-chartered and federally chartered savings and loan associations in this state above and beyond the protection provided by the federal deposit insurance corporation or its successor and to ensure prompt payment of deposit liabilities to governmental units in the event of default or insolvency of any such association.
(2)
The general assembly further declares that the inclusion of self-insurance pools formed by governmental units within the scope of the provisions of this article is to clarify that such self-insurance pools have been and shall continue to be entitled to protection as provided by the provisions of this article.
L. 75: Entire article added, p. 399, § 1, effective July 1. L. 88: Entire section amended, p. 428, § 6, effective April 20. L. 2004: (1) amended, p. 141, § 28, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-104 - Administration - powers of commissioner and financial services board

The provisions of this article shall be administered by the commissioner under the supervision of the financial services board. The financial services board and the commissioner shall have the authority to do all acts necessary and required to carry out the purpose of this article. To this end, the financial services board is empowered to make, amend, and rescind rules and regulations consistent with said provisions and to prescribe a standard form for the statements and reports required to be made or filed by eligible public depositories and to require uniform use of the same. Acts of the commissioner are subject to appeal to the financial services board pursuant to section
11-44-101.8
.
L. 75: Entire article added, p. 401, § 1, effective July 1. L. 93: Entire section amended, p. 1453, § 14, effective June 6.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-105 - Acceptance of provisions - designation as eligible public depository

(1)
Every state-chartered savings and loan association and every federally chartered savings and loan association having an office in this state that is otherwise eligible to be an eligible public depository and that desires to accept and hold public deposits in an amount in excess of the amount insured by the federal deposit insurance corporation or its successor shall file with the commissioner, on a form provided by him or her for such purpose, a statement signed and sworn to by an executive officer of such association electing to accept and become subject to the provisions of this article and setting forth the amount of its capital funds and the aggregate amount and nature of all public deposits held by it. Upon the filing of such statement and acceptance, the commissioner shall forthwith designate such savings and loan association as an eligible public depository and shall issue an appropriate certificate evidencing such designation.
(2)
(Deleted by amendment, L. 2004, p. 141, § 30, effective July 1, 2004.)
L. 75: Entire article added, p. 401, § 1, effective July 1. L. 94: Entire section amended, p. 68, § 16, effective July 1. L. 2004: Entire section amended, p. 141, § 30, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-106 - [Repealed]

L. 75: Entire article added, p. 401, § 1, effective July 1. L. 93: (3) amended, p. 1453, § 15, effective June 6. L. 2004: Entire section repealed, p. 142, § 31, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-107 - [Repealed]

L. 75: Entire article added, p. 402, § 1, effective July 1. L. 2004: Entire section repealed, p. 142, § 32, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-108 - Method of securing public deposits

(1)
Except as provided in section
11-47-112(6)(a)
, any eligible public depository shall secure public deposits accepted and held by it by pledging eligible collateral having a market value, at all times, equal to at least one hundred percent of the aggregate of said deposits not insured by the federal deposit insurance corporation or its successor.
(2)
The eligible collateral pledged shall be held as specified in section
11-47-109
; except that the depository shall be required to furnish each governmental unit whose deposit is so secured with a statement, signed under oath by an executive officer of said depository, certifying to said governmental unit that its deposit is secured in the manner specified in subsection (1) of this section and specifying where the collateral pledged is being held in custody.
L. 75: Entire article added, p. 402, § 1, effective July 1. L. 87: (1) amended, p. 469, § 2, effective May 1. L. 2004: Entire section amended, p. 143, § 33, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-109 - Where collateral held - right of substitution - income derived

(1)
The eligible collateral required to be pledged as provided in section
11-47-108
shall be held in escrow by another savings and loan association in Colorado, by a state or national bank in Colorado, or by any federal home loan bank or branch thereof or any federal reserve bank or branch thereof approved by the commissioner, and held in such manner as the financial services board shall prescribe by rule. All collateral so held shall be clearly identified as being security maintained or pledged for the aggregate amount of public deposits accepted and held on deposit by said eligible public depository.
(2)
Said depository shall have the right at any time to make substitutions of eligible collateral maintained or pledged and shall at all times be entitled to collect and retain all income derived from the same without restriction.
L. 75: Entire article added, p. 403, § 1, effective July 1. L. 77: (1) amended, p. 574, § 2, effective June 10. L. 86: (1) amended, p. 603, § 1, effective March 10. L. 89: (1) amended, p. 613, § 9, effective April 19. L. 93: (1) amended, p. 1454, § 16, effective June 6. L. 2004: (1) amended, p. 143, § 34, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-110 - [Repealed]

L. 75: Entire article added, p. 403, § 1, effective July 1. L. 2004: Entire section repealed, p. 143, § 35, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SAVINGS AND LOAN ASSOCIATIONS (§§ 11-40-101 — 11-49-115) › Article 47 - PROTECTION OF DEPOSITS OF PUBLIC MONEYS (§§ 11-47-101 — 11-47-120) › Section 11-47-111 - Reports required - when filed - contents

On a date specified by the commissioner, every eligible public depository shall file a report with the commissioner that contains such information as required by the commissioner. The commissioner may require more frequent reports from eligible public depositories.
L. 75: Entire article added, p. 403, § 1, effective July 1. L. 83: Entire section amended, p. 488, § 3, effective May 10. L. 94: Entire section amended, p. 69, § 17, effective July 1. L. 2000: Entire section amended, p. 156, § 3, effective August 2.