reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-108 - Registration of bonds

(1)
An issuance of bonds may be registered by a district under this article.
(2)
An application for registration of bonds under this section shall contain full and fair disclosure of all material facts respecting the bonds offered, including the following information, shall state the title of the bonds and the number and amount being registered under this article, and shall be accompanied by the following documents:
(a)
The most recent district audit report;
(b)
Engineering and architectural reports which describe the cost and location of improvements in the district;
(c)
Copies of intergovernmental agreements, construction contracts, and competitive bids which disclose the material elements of any proposed project to be financed by the proceeds of the offering, if available;
(d)
Copies of signed agreements, if available, with persons building or developing improvements in the district which are to be owned, managed, leased, or sold by such persons;
(e)
Copies of agreements, if any, with the owners of major parcels of vacant or undeveloped land in the district which disclose development fees or other payments to be made to support the proposed bonds while the district is being developed in accordance with the service plan;
(f)
Recently audited financial statements of persons building or developing improvements in the district for contracts in excess of fifty thousand dollars;
(g)
In a special district, copies of the service plan and any amendments thereto and copies of all reports required by law to be filed with the county or counties wherein the special district is located and, where appropriate, evidence of compliance with any other requirement of law imposed on special districts issuing bonds; and
(h)
Such additional information as the securities commissioner requires by rule or order and as is required for full and fair disclosure respecting the bonds offered.
(3)
A registration application under this section becomes effective when the securities commissioner so orders, if the application is not subject to a stop order under section
11-59-109
. In the case of an order of effectiveness, the securities commissioner shall include in such order a list of the documents reviewed in connection with the application for registration.
(4)
The date of filing shall be the date that the application for registration or an amendment to the application is received by the securities commissioner.
(5)
Districts are subject to the open meetings law under part 4 of article
6
of title
24
, C.R.S., and the open records law under article
72
of title
24
, C.R.S.
L. 91: Entire article added, p. 2412, § 1, effective 1/1/1992. L. 95: (5) amended, p. 1093, § 5, effective May 31.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-111 - Unlawful representation concerning registration or exemption

(1)
Neither the fact that an application for registration has been filed nor the fact that an application for registration has become effective constitutes a finding by the securities commissioner that any document filed under this article is true, is complete, and is not misleading. No such fact, nor the fact that an exemption or exception is available for a security or transaction, means that the securities commissioner has passed in any way upon the merits or qualifications of, or has recommended or given approval to, any security or transaction. In the case of an issue of bonds made pursuant to an order of registration effective under section
11-59-108
, nothing in this subsection (1) shall prohibit the inclusion in the official statement used in connection with the offer or sale of such bonds a representation that the issue of bonds has been registered with the securities commissioner and a statement identifying the documents reviewed by the securities commissioner in the course of the registration process.
(2)
It is unlawful to make, or cause to be made, to any prospective or existing investor or property owner any representation inconsistent with subsection (1) of this section.
L. 91: Entire article added, p. 2417, § 1, effective 1/1/1992.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-112 - Misleading filing

It is unlawful for any person to make or cause to be made, in any document filed with the securities commissioner or in any proceeding under this article, any statement which the person knows or has reasonable grounds to know is, at the time and in light of the circumstances under which it is made, false or misleading in any material respect.
L. 91: Entire article added, p. 2418, § 1, effective 1/1/1992.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-114 - Enforcement by injunction

(1)
Whenever it appears to the securities commissioner upon sufficient evidence satisfactory to the securities commissioner that any person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this article or of any rule or order under this article, the securities commissioner may apply to the district court for the city and county of Denver to temporarily restrain or preliminarily or permanently enjoin the act or practice in question and to enforce compliance with this article or any rule or order under this article. In any such action, the securities commissioner shall not be required to plead or prove irreparable injury or the inadequacy or a remedy at law. Under no circumstances shall the court require the commissioner to post a bond.
(2)
The securities commissioner may include in any action authorized by subsection (1) of this section a claim for restitution, disgorgement, or other equitable relief on behalf of some or all of the persons injured by the act or practice constituting the subject matter of the action.
L. 91: Entire article added, p. 2419, § 1, effective 1/1/1992.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-115 - Criminal and civil penalties and damages

(1)
Any person who willfully violates the provisions of section
11-59-112
commits a class 3 felony and shall be punished as provided in section
18-1.3-401
, C.R.S.
(2)
Any person who willfully violates any of the provisions of this article 59, other than section
11-59-112
, or any rule or order under this article 59 commits a petty offense and shall be punished as provided in section
18-1.3-503
, and any second violation of this section shall be punishable by a civil penalty of fifty dollars per day to a maximum penalty of one thousand dollars.
(3)
Conviction of violation of any provision of this article under this section shall also establish a prima facie case for liability for civil damages by any person injured thereby.
(4)
The securities commissioner may refer such evidence as is available to the securities commissioner under authority of this article concerning any violation which constitutes the commission of any felony or misdemeanor to the attorney general or the appropriate district attorney, who may, with or without such a reference, prosecute the appropriate criminal proceedings under this article or otherwise as authorized by law, or the securities commissioner may refer such evidence to the United States attorney.
(5)
Nothing in this article limits the power of the state to punish any person for any conduct which constitutes a crime by statute.
(6)
No person shall be prosecuted, tried, or punished for any criminal violation of this article unless the indictment, information, complaint, or action for the same is found or instituted within five years after the commission of the offense.
Amended by 2021 Ch. 462, §130, eff. 3/1/2022.
L. 91: Entire article added, p. 2419, § 1, effective 1/1/1992. L. 2002: (1) and (2) amended, p. 1472, § 45, effective October 1.
Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
For the legislative declaration contained in the 2002 act amending subsections (1) and (2), see section 1 of chapter 318, Session Laws of Colorado 2002.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-116 - Administrative proceedings

Any administrative proceeding under this article shall be conducted pursuant to the provisions of section
24-4-105
, C.R.S. The securities commissioner may refer the conduct of any administrative proceeding to an administrative law judge pursuant to part 10 of article
30
of title
24
, C.R.S. Every hearing in an administrative proceeding shall be public unless the securities commissioner, in the commissioner's discretion, grants a request joined in by all the respondents that the hearing be conducted privately.
L. 91: Entire article added, p. 2420, § 1, effective 1/1/1992.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-117 - Judicial review of orders

(1)
Any person claiming to be aggrieved by a final order of the securities commissioner, including a refusal to issue an order, may obtain judicial review thereof, and the securities commissioner may obtain an order of court for its enforcement in a proceeding as provided in this section.
(2)
Such proceeding shall be brought in the court of appeals by appropriate proceedings under section
24-4-106 (11)
, C.R.S.
(3)
Such proceeding shall be initiated by the filing of a petition in the court of appeals and the service of a copy thereof upon the securities commissioner and upon all parties who appeared before the securities commissioner, and thereafter such proceeding shall be processed under the Colorado appellate rules. The court of appeals shall have jurisdiction of the proceeding and the questions determined therein and shall have power to grant such temporary relief or restraining order as it deems just and proper and to make and enter upon the pleadings, testimony, and proceedings set forth in such transcript an order enforcing, modifying, and enforcing as so modified or setting aside the order of the securities commissioner in whole or in part.
(4)
An objection that has not been urged before the securities commissioner shall not be considered by the court, unless the failure or neglect to urge such objection shall be excused because of extraordinary circumstances.
(5)
The findings of the securities commissioner as to the facts shall be conclusive if supported by substantial evidence.
(6)
The jurisdiction of the court shall be exclusive, and its judgment and order shall be final, subject to review as provided by law and the Colorado appellate rules.
(7)
The commencement of proceedings under subsection (1) of this section does not, unless specifically ordered by the court, operate as a stay of the securities commissioner's order.
L. 91: Entire article added, p. 2420, § 1, effective 1/1/1992.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-118 - Interpretation and interpretive opinions

(1)
The provisions and rules of this article shall be coordinated with the provisions and rules of article
51
of this title to the extent that such coordination is consistent with both the purposes and provisions of this article.
(2)
The securities commissioner may, in such commissioner's discretion, honor requests from interested persons for interpretive opinions regarding any provision of this article or any rule or order under this article. Any person making such a request shall pay an opinion fee, which shall be determined and collected pursuant to section
11-59-119
and which shall not be refundable. In response to any request for an interpretive opinion received under this section, the securities commissioner may waive any condition imposed under this article as it applies to the person making such request.
L. 91: Entire article added, p. 2421, § 1, effective 1/1/1992.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-119 - Collection of fees - division of securities cash fund

(1)
A fee payable under this article shall be deemed paid when the securities commissioner receives the payment.
(2)
The securities commissioner shall transmit all fees collected under this article to the state treasurer, who shall credit the same to the division of securities cash fund created by section
11-51-707
. Moneys credited to the division of securities cash fund shall be used as provided in this section and in section
11-51-707
and shall not be deposited in or transferred to the general fund of this state or any other fund.
(3)
The securities commissioner shall set the amount of each fee which the securities commissioner is authorized by law to collect under this article. In the discretion of the commissioner, the securities commissioner may set application for registration or amendment fees payable under section
11-59-104
by establishing a basic filing fee up to a maximum of five hundred dollars, plus a scale of rates applied to the dollar amount of bonds to be registered, not to exceed five dollars per ten thousand dollars, up to a maximum of ten thousand dollars based on the dollar amount of bonds to be issued. The securities commissioner may set the exemption fee payable under section
11-59-110
up to a maximum of one hundred dollars. Such fees for a fiscal year may be adjusted by the securities commissioner no more often than twice during that fiscal year.
L. 91: Entire article added, p. 2422, § 1, effective 1/1/1992.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59 - COLORADO MUNICIPAL BOND SUPERVISION ACT (§§ 11-59-101 — 11-59-120) › Section 11-59-120 - Effective date

The rule-making authority of the securities commissioner and the provisions of section
11-59-104 (1)
take effect July 1, 1991, and, unless otherwise provided, all other provisions of this article 59 take effect January 1, 1992.
Amended by 2022 Ch. 102, §2, eff. 8/10/2022.
L. 91: Entire article added, p. 2422, § 1, effective 1/1/1992.
2022 Ch. 102, 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) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59.3 - INTEREST RATE EXCHANGE AGREEMENTS (§§ 11-59.3-101 — 11-59.3-105) › Section 11-59.3-101 - Legislative declaration

The general assembly finds and declares that interest rate exchange agreements can be used to reduce net borrowing costs, to achieve desirable net effective interest rates in connection with the issuance and sale of public securities, and to provide an efficient means of debt management.
L. 92: Entire article added, p. 949, § 1, effective April 29.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59.3 - INTEREST RATE EXCHANGE AGREEMENTS (§§ 11-59.3-101 — 11-59.3-105) › Section 11-59.3-102 - Definitions

As used in this article, unless the context otherwise requires:
(1)
"Proposed public securities" means public securities for which a public entity has:
(a)
Entered into a binding sale contract subject to customary conditions; or
(b)
Received voter approval pursuant to section 20 of article X of the state constitution.
(2)
"Public entity" means any of the following entities: The state of Colorado; any institution, agency, instrumentality, authority, county, city, town, city and county, district, or other political subdivision of the state, including any school district and institution of higher education; any institution, department, agency, instrumentality, or authority of any entity listed in this subsection (2); and any other entity, organization, or corporation formed by intergovernmental agreement or other contract between or among any of the entities listed in this subsection (2).
(3)
"Public securities" means bonds, notes, debentures, interim certificates, bond anticipation notes, commercial paper, or other evidences of indebtedness, or lease, installment purchase, or other agreements, or certificates of participation therein, issued by or on behalf of a public entity.
L. 92: Entire article added, p. 949, § 1, effective April 29. L. 2004: (3) amended, p. 950, § 6, effective May 21. L. 2005: (1) amended, p. 880, § 1, effective June 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59.3 - INTEREST RATE EXCHANGE AGREEMENTS (§§ 11-59.3-101 — 11-59.3-105) › Section 11-59.3-104 - Construction of article

The powers conferred by this article shall be in addition and supplemental to, and not in substitution for, and the limitations imposed by this article shall not directly or indirectly modify, limit, or affect the powers conferred by any other law. Nothing in this article shall be construed to limit the powers of home rule municipalities organized under the provisions of article XX of the state constitution.
L. 92: Entire article added, p. 952, § 1, effective April 29.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59.3 - INTEREST RATE EXCHANGE AGREEMENTS (§§ 11-59.3-101 — 11-59.3-105) › Section 11-59.3-105 - Liberal construction

This article shall be liberally construed so that the legislative intent may be fulfilled.
L. 92: Entire article added, p. 952, § 1, effective April 29.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › PUBLIC SECURITIES (§§ 11-55-101 — 11-59.5-101) › Article 59.5 - NO FEDERAL PREEMPTION UNDER "SECONDARY MORTGAGE MARKET ENHANCEMENT ACT OF 1984" (§ 11-59.5-101) › Section 11-59.5-101 - Investments in mortgage-related securities - no federal preemption

No person, trust, corporation, partnership, association, business trust, or business entity or class thereof may purchase, hold, or invest in securities to which the provisions of paragraph (a) or (b) of section 106 of the federal "Secondary Mortgage Market Enhancement Act of 1984", Pub.L. 98-440, would otherwise be applicable except in accordance with any provision of Colorado law including, without limitation, the provisions of this title and of title 10, C.R.S.
L. 91, 2nd Ex. Sess.: Entire article added, p. 54, § 1, effective October 1.
This article was numbered as article 59 by House Bill 91S2-1004, enacted at the Second Extraordinary Session of the Fifty-eighth General Assembly in 1991, but has been renumbered on revision for ease of location.
For the "Secondary Mortgage Market Enhancement Act of 1984", see Pub.L. 98-440, 98 Stat. 1689.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › RECOVERY AND REINVESTMENT FINANCE ACT (§§ 11-59.7-101 — 11-59.7-114) › Article 59.7 - COLORADO RECOVERY AND REINVESTMENT FINANCE ACT OF 2009 (§§ 11-59.7-101 — 11-59.7-114) › Section 11-59.7-101 - Short title

This article shall be known and may be cited as the "Colorado Recovery and Reinvestment Finance Act of 2009".
L. 2009: Entire article added, (HB 09-1346), ch. 402, p. 2190, §1, effective June 2.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › RECOVERY AND REINVESTMENT FINANCE ACT (§§ 11-59.7-101 — 11-59.7-114) › Article 59.7 - COLORADO RECOVERY AND REINVESTMENT FINANCE ACT OF 2009 (§§ 11-59.7-101 — 11-59.7-114) › Section 11-59.7-102 - Legislative declaration

(1)
The general assembly hereby finds and declares that:
(a)
The federal "American Recovery and Reinvestment Act of 2009", Pub.L. 111-5, was enacted by the United States congress in response to a national economic crisis in order to stimulate spending, increase employment, and reduce unemployment in the United States as rapidly as possible, including spending and employment by states and local governments and those who provide goods and services to states and local governments;
(b)
The purpose of this article is to stimulate spending, increase employment, and reduce unemployment in Colorado as rapidly as possible by authorizing Colorado public entities to take full advantage of financing opportunities available under the federal recovery and reinvestment act; and
(c)
This article shall be interpreted in a manner that stimulates the maximum amount of spending, increases the maximum amount of employment, and reduces the maximum amount of unemployment in Colorado as rapidly as possible through the actions of Colorado public entities in taking full advantage of financing opportunities under the federal recovery and reinvestment act.
L. 2009: Entire article added, (HB 09 -1346), ch. 402, p. 2190, §1, effective June 2.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › RECOVERY AND REINVESTMENT FINANCE ACT (§§ 11-59.7-101 — 11-59.7-114) › Article 59.7 - COLORADO RECOVERY AND REINVESTMENT FINANCE ACT OF 2009 (§§ 11-59.7-101 — 11-59.7-114) › Section 11-59.7-112 - No limitation on powers

The powers conferred by this article are in addition to and supplemental to and not in substitution for the powers conferred by any other law, and nothing in this article shall be interpreted to limit the powers of any public entity under any other law. If any provision of this article is inconsistent with any provision of any other law, the provisions of this article shall control.
L. 2009: Entire article added, (HB 09-1346), ch. 402, p. 2214, §1, effective June 2.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › RECOVERY AND REINVESTMENT FINANCE ACT (§§ 11-59.7-101 — 11-59.7-114) › Article 59.7 - COLORADO RECOVERY AND REINVESTMENT FINANCE ACT OF 2009 (§§ 11-59.7-101 — 11-59.7-114) › Section 11-59.7-113 - Executive orders authorized

This article was enacted in order to authorize public entities to take full advantage of financing opportunities available under the federal recovery and reinvestment act shortly after the enactment of the act and without detailed guidance from the executive branch of the federal government or courts regarding the proper interpretation of the act. If, based on additional information regarding the proper interpretation of the federal recovery and reinvestment act or amendments to the act, the governor determines that any provision of this article is not authorized by or is inconsistent with federal law or regulations or that additional legal authority is needed to authorize public entities to take full advantage of financing opportunities available under the act, the governor is expressly authorized to issue one or more executive orders that stops the operation or implementation of the unauthorized or inconsistent provision or provides the necessary additional legal authority.
L. 2009: Entire article added, (HB 09-1346), ch. 402, p. 2214, §1, effective June 2.
For the federal recovery and reinvestment act, see the "American Recovery and Reinvestment Act of 2009", Pub.L. 111-5.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › RECOVERY AND REINVESTMENT FINANCE ACT (§§ 11-59.7-101 — 11-59.7-114) › Article 59.7 - COLORADO RECOVERY AND REINVESTMENT FINANCE ACT OF 2009 (§§ 11-59.7-101 — 11-59.7-114) › Section 11-59.7-113.5 - Specified tax credit bonds

A public entity may elect pursuant to the internal revenue code to treat any stimulus obligation as a specified tax credit bond. Any volume cap allocated to a public entity for stimulus obligations of the same type as a stimulus obligation for which such an election has been made shall apply to the stimulus obligation.
L. 2010: Entire section added, (SB 10-200), ch. 234, p. 1028, §3, effective May 18.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › RECOVERY AND REINVESTMENT FINANCE ACT (§§ 11-59.7-101 — 11-59.7-114) › Article 59.7 - COLORADO RECOVERY AND REINVESTMENT FINANCE ACT OF 2009 (§§ 11-59.7-101 — 11-59.7-114) › Section 11-59.7-114 - Applicability

This article shall apply only to stimulus obligations issued or entered into pursuant to the federal recovery and reinvestment act on or before the date the authority to issue or enter into stimulus obligations of such type expires under the federal recovery and reinvestment act.
L. 2009: Entire article added, (HB 09-1346), ch. 402, p. 2214, §1, effective June 2.
For the federal recovery and reinvestment act, see the "American Recovery and Reinvestment Act of 2009", Pub.L. 111-5.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-61-102) › Article 60 - U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-60-104) › Section 11-60-101 - Definitions

As used in this article, unless the context otherwise requires:
(1)
"Bank for cooperatives" means the corporation known as the central bank for cooperatives and any bank for cooperatives organized and chartered by the governor of the farm credit administration pursuant to the "Farm Credit Act of 1933", as amended.
(2)
"Debenture" means an instrument evidencing an obligation issued by a federal intermediate credit bank pursuant to the "Federal Farm Loan Act", as amended, or by a bank for cooperatives pursuant to the "Farm Credit Act of 1933", as amended, and includes consolidated debentures issued by federal intermediate credit banks acting together or banks for cooperatives acting together.
(3)
"Federal intermediate credit bank" means any federal intermediate credit bank chartered by the farm credit administration pursuant to the "Federal Farm Loan Act", as amended.
(4)
"Funds" includes but is not limited to any moneys or deposits, or any fiduciary, sinking, insurance, investment, retirement, compensation, pension, estate, trust, or other funds, public or private.
(4.5)
"Person" means any individual, corporation, business trust, estate, trust, partnership, association, or legal entity other than a public body or officer.
(5)
"Public bodies or officers" includes but is not limited to the state of Colorado and any of its institutions, agencies, counties, municipalities, districts, and any political subdivision, department, agency, or instrumentality thereof, and any political or public corporation, board, commission, or officer.
L. 57: p. 520, § 1. CRS 53: § 83-3-1. C.R.S. 1963: § 83-3-1. L. 89: (4.5) added, p. 1107, § 8, effective July 1.
For the "Farm Credit Act of 1933", see Pub.L. 73-75, codified at 12 U.S.C. § 1131 et seq.; the "Federal Farm Loan Act", referenced in this section, was repealed in 1971 by the "Farm Credit Act of 1971", which also provided that references to the Farm Loan Act "shall be deemed to refer to the comparable provisions" of the "Farm Credit Act of 1971", Pub.L. 92-181, codified at 12 U.S.C. § 2001 et seq.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-61-102) › Article 60 - U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-60-104) › Section 11-60-102 - Debentures - legal investments - federal intermediate credit banks - bank for cooperatives

It is lawful, notwithstanding any restrictions on investments contained in any of the laws of this state, for any bank, trust company, savings bank, savings and loan association, insurance company, credit union, or person, including but not limited to those doing business under any banking, insurance, deposit, fiduciary, or investment laws of the United States or any of the states thereof, to invest any funds in its, his, or their custody, control, or possession in any debentures or other similar obligations issued by a federal intermediate credit bank or by a bank for cooperatives and to use any such debentures as security for public deposits or any other fund in their custody, control, or possession.
L. 57: p. 521, § 2. CRS 53: § 83-3-2. C.R.S. 1963: § 83-3-2. L. 89: Entire section amended, p. 1107, § 9, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-61-102) › Article 60 - U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-60-104) › Section 11-60-103 - Lawful investments - international banks

It is lawful, notwithstanding any restrictions on investments contained in any of the laws of this state, for any bank, trust company, savings bank, savings and loan association, insurance company, credit union, or person, including but not limited to those doing business under any banking, insurance, deposit, fiduciary, or investment laws of the United States or of any of the states thereof, to invest any funds in its, his, or their custody, control, or possession in the obligations of the international bank for reconstruction and development, the inter-American development bank, the Asian development bank, or the African development bank.
L. 57: p. 521, § 3. CRS 53: § 83-3-3. C.R.S. 1963: § 83-3-3. L. 67: p. 564, § 1. L. 69: p. 690, § 1. L. 88: Entire section amended, p. 462, § 1, effective July 1. L. 89: Entire section amended, p. 1107, § 10, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-61-102) › Article 60 - U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-60-104) › Section 11-60-104 - Article controlling

Insofar as the provisions of this article are inconsistent with the provisions of any other law, the provisions of this article are controlling; but nothing in this article shall be construed as modifying part 3 of article
1
of title
15
, C.R.S.
L. 57: p. 521, § 5. CRS 53: § 83-3-4. C.R.S. 1963: § 83-3-4.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-61-102) › Article 61 - LEGAL TENDER (§§ 11-61-101 — 11-61-102) › Section 11-61-101 - Gold and silver coin a legal tender

The gold and silver coin issued by the government of the United States shall be a legal tender for the payment of all debts contracted on or after April 5, 1893, between the citizens of this state. The same shall be received in payment of all debts due to the citizens of this state and in satisfaction of all taxes levied by the authority of the laws of this state.
L. 1893: p. 306, § 1. R.S. 08: § 3941. C.L. § 3817. CSA: C. 98, § 1. CRS 53: § 83-2-1. C.R.S. 1963: § 83-2-1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › HOSPITAL AND HEALTH CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Article 70 - HOSPITAL AND HEALTH-CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Section 11-70-101 - Trust agreements among a group or association of physicians, dentists, or health-care institutions authorized

(1)
There is hereby authorized the establishment, maintenance, administration, and operation of any trust, established by agreement of any group or association of physicians, dentists, or health-care institutions, properly licensed by the state of Colorado, as grantor, with such physicians, dentists, or health-care institutions as beneficiaries, for the purpose of insuring against loss by the payment of compensation under the Colorado workers' compensation law and general public liability claims based upon acts or omissions of such physicians, dentists, or health-care institutions, including, without limitation, claims based upon malpractice. Such group or association of physicians, dentists, or health-care institutions may, by trust agreement among themselves and a trustee or trustees of their selection, specify the terms, conditions, and provisions of such a trust.
(2)
Upon approval of the executive director of the department of labor and employment and if the terms of the trust agreement so authorize, the following entities may be included as participants in or members of a trust created pursuant to subsection (1) of this section:
(a)
Organizations or associations in which licensed health-care institutions are qualified members;
(b)
Entities which own or operate otherwise qualified licensed health-care institutions under this article; or
(c)
Residential, retirement, or personal care facilities, whether or not such facilities are required to be licensed by this state.
L. 77: Entire article added, p. 594, § 1, effective July 1. L. 86: Entire section amended, p. 604, § 1, effective April 3. L. 90: Entire section amended, p. 563, § 29, effective July 1. L. 91: Entire section amended, p. 654, § 1, effective March 29.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › HOSPITAL AND HEALTH CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Article 70 - HOSPITAL AND HEALTH-CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Section 11-70-102 - Title to property of trusts - liability of trust and trustees

The trustees of trusts established pursuant to this article shall hold the legal title to all property at any time belonging to the trusts. They shall have control over such property, as well as the control and management of the business and affairs of the trust. Liability to third persons for any act, omission, or obligation of a trustee of a trust, when acting in such capacity, shall extend to the whole of the trust estate, or so much thereof as may be necessary to discharge such obligation, but no trustee shall be personally liable for any such act, omission, or obligation. The trustees shall have such powers as to the investment of the trust estate as may be set out in the declaration of trust, without regard to the type of investments to which trustees generally are restricted by the provisions of part 8 of article
1
of title
15
, C.R.S., nor shall such trustees be subject to the provisions of title 10, C.R.S., concerning the regulation of insurance; except that the trustees shall report any malpractice claim against a licensed practitioner that is settled or in which judgment is rendered against the insured to the Colorado medical board, which board shall provide statistical data concerning such claims to the commissioner of insurance. Without limiting the generality of the foregoing, the trustees shall have any powers, whether conferred upon them by the agreement of trust or otherwise, to perform all acts necessary or desirable to the conduct of the business of a public liability insurer.
L. 77: Entire article added, p. 594, § 1, effective July 1. L. 85: Entire section amended, p. 517, § 1, effective July 1. L. 2010: Entire section amended, (HB 10-1260), ch. 403, p. 1978, §51, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › HOSPITAL AND HEALTH CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Article 70 - HOSPITAL AND HEALTH-CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Section 11-70-103 - Obligation of participating physicians, dentists, and hospitals limited

No physician, dentist, or hospital which is a participant in such a trust, as grantor, member, beneficiary, or otherwise, shall be liable or obligated to the trust, to the trustee, to any grantor, member, or beneficiary, to any creditor of the trust, or to any other person by virtue of its participation other than for the payment of its full agreed contribution to the trust in accordance with the trust agreement. Without limiting the generality of the foregoing, no participating physician, dentist, or hospital shall incur any other liability of any nature whatever because of or arising out of its participation in such a trust.
L. 77: Entire article added, p. 595, § 1, effective July 1. L. 86: Entire section amended, p. 604, § 2, effective April 3.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › HOSPITAL AND HEALTH CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Article 70 - HOSPITAL AND HEALTH-CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Section 11-70-104 - Application of article

All of the provisions of this article shall apply to, and shall confer all rights, privileges, exemptions, and immunities upon, any trust established for the purposes contemplated by this article and the grantors, members, beneficiaries, participants, and trustees thereof, whether such trust was established before or on or after July 1, 1977.
L. 77: Entire article added, p. 595, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › HOSPITAL AND HEALTH CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Article 70 - HOSPITAL AND HEALTH-CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Section 11-70-105 - Insurance

The coverage provided by a trust established pursuant to this article shall be deemed insurance for the purposes of any requirements relating to proof of financial responsibility.
L. 77: Entire article added, p. 595, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › HOSPITAL AND HEALTH CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Article 70 - HOSPITAL AND HEALTH-CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Section 11-70-106 - Certificate of membership

Certification of membership in a trust established pursuant to this article shall meet the certification requirements of any hospital-medical liability requirements.
L. 77: Entire article added, p. 595, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › HOSPITAL AND HEALTH CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Article 70 - HOSPITAL AND HEALTH-CARE TRUSTS (§§ 11-70-101 — 11-70-107) › Section 11-70-107 - Workers' compensation

The coverage provided by a trust established pursuant to this article shall be deemed insurance meeting the requirements of article
44
of title
8
, C.R.S., to secure the payment of compensation under the Colorado workers' compensation law, and such trust, upon obtaining approval of the executive director of the department of labor and employment, may act as its own insurance carrier, as provided in section
8-44-201
, C.R.S.
L. 77: Entire article added, p. 595, § 1, effective July 1. L. 86: Entire section amended, p. 498, § 114, effective July 1. L. 90: Entire section amended, p. 563, § 30, effective July 1.
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 11-71-101 - Legislative declaration

The general assembly hereby finds, determines, and declares that compliance review committees are essential to the operation and performance of financial institutions and that the public will benefit from incentives to identify and remedy compliance issues. To this end, the general assembly declares that compliance review information prepared for or created by a compliance review committee shall be confidential and that persons performing such functions shall be granted qualified immunity.
L. 95: Entire article added, p. 210, § 1, effective April 13.
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 11-71-102 - Definitions

As used in this article, unless the context otherwise requires:
(1)
"Compliance review committee" means:
(a)
An audit committee, loan review committee, or compliance committee appointed by the board of directors of a depository institution, as defined in subsection (3) of this section; or
(b)
Any other person who is not an employee or director who acts in an investigatory capacity at the direction of a compliance review committee.
(2)
"Compliance review documents" means documents exclusively prepared for or created by a compliance review committee.
(3)
(a)
"Depository institution" means:
(I)
A person organized, chartered, doing business, or holding an authorization charter under the laws of this state or the United States to receive deposits, which person is supervised or examined for the protection of depositors by an official or agency of a state or the United States. "Deposits" includes deposits in savings, share, certificate, or other deposit accounts.
(II)
A trust company or other institution that is chartered pursuant to article
109
of this title.
(b)
"Depository institution" does not include an insurance company or other organization primarily engaged in the business of insurance.
(4)
"Loan review committee" means a person or group of persons who, on behalf of a depository institution, reviews loans held by such institution for the purpose of assessing the credit quality of the loans, compliance with the institution's loan policies, and compliance with applicable laws and regulations.
(5)
"Person" means an individual, group of individuals, board, committee, partnership, firm, association, corporation, or other legal entity.
L. 95: Entire article added, p. 210, § 1, effective April 13. L. 2004: (3)(a)(II) amended, p. 325, § 15, effective April 7; (3)(a)(II) amended, p. 1191, § 23, effective August 4.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › BANKS (§§ 11-101-101 — 11-111-116) › COLORADO BANKING CODE (§§ 11-101-101 — 11-111-116) › Article 101 - GENERAL PROVISIONS (§§ 11-101-101 — 11-101-401) › Part 1 - SHORT TITLE AND POLICY (§§ 11-101-101 — 11-101-102) › Section 11-101-101 - Short title

Articles 101 to 109 and article
10.5
of this title shall be known and may be cited as the "Colorado Banking Code". A reference to the code means the Colorado Banking Code as amended from time to time.
L. 2003: Entire article added with relocations, p. 1051, § 3, effective July 1.
This section is similar to former § 11-1-101 as it existed prior to 2003.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › BANKS (§§ 11-101-101 — 11-111-116) › COLORADO BANKING CODE (§§ 11-101-101 — 11-111-116) › Article 101 - GENERAL PROVISIONS (§§ 11-101-101 — 11-101-401) › Part 1 - SHORT TITLE AND POLICY (§§ 11-101-101 — 11-101-102) › Section 11-101-102 - Declaration of policy

(1)
It is hereby declared to be the policy of the state of Colorado that, to protect the public interest, the business of all state banks be supervised and regulated in such manner as to:
(a)
Preserve and promote:
(I)
Sound and constructive competition among financial services institutions;
(II)
A dual federal and state banking system;
(III)
The security of deposits;
(IV)
The safe and sound conduct of the business of state banks; and
(V)
A statewide safe and sound banking system;
(b)
Seek:
(I)
Regulatory coordination and cooperation; and
(II)
Regulatory parity among financial services institutions; and
(c)
Encourage diversity in financial products and services.
L. 2003: Entire article added with relocations, p. 1051, § 3, effective July 1.
This section is similar to former § 11-1-101.5 as it existed prior to 2003.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › BANKS (§§ 11-101-101 — 11-111-116) › COLORADO BANKING CODE (§§ 11-101-101 — 11-111-116) › Article 101 - GENERAL PROVISIONS (§§ 11-101-101 — 11-101-401) › Part 2 - EFFECT ON EXISTING BANKS (§ 11-101-201) › Section 11-101-201 - Effect on existing banks

The charters of the state banks organized and existing prior to July 1, 2013, under the laws of this state continue in full force and effect. All such state banks, and, to the extent applicable, all banks chartered under the laws of another state and all national banks doing business in this state on or after July 1, 2013, are, from that date, subject to this article. Any such state bank, by filing an application under this code for an amendment of its charter or for a merger, consolidation, purchase and assumption, or sale of all, or substantially all, of its assets, or the assets of any department of such bank, shall be deemed to have expressly recognized that it is so subject.
Amended by 2013 Ch. 282,§ 6, eff. 7/1/2013.
L. 2003: Entire article added with relocations, p. 1052, § 3, effective July 1. L. 2013: Entire section amended, (SB 13-154), ch. 282, p. 1464, § 6, effective July 1.
This section is similar to former § 11-1-103 as it existed prior to 2003.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › BANKS (§§ 11-101-101 — 11-111-116) › COLORADO BANKING CODE (§§ 11-101-101 — 11-111-116) › Article 101 - GENERAL PROVISIONS (§§ 11-101-101 — 11-101-401) › Part 3 - APPLICATION (§§ 11-101-301 — 11-101-302) › Section 11-101-301 - Application of code

(1)
This code governs the incorporation, organization, corporate functions, merger, consolidation, purchase and assumption, sale of assets, liquidation, dissolution, and reorganization procedures of corporations operating as banks (whether or not, as a part of and in conjunction with such operations, they engage in the trust or safe deposit business) in the state of Colorado; but articles
10.5
and
101
to
107
of this title only apply to trust companies organized and operating under article
109
of this title when specifically provided in articles
10.5
and
101
to
109
of this title, and article
109
of this title otherwise governs exclusively trust companies.
(2)
(a)
(I)
The regulation of banking is a matter of statewide concern, and in order to maintain a uniform statewide system of banking and bank regulatory policy in Colorado, the regulation by a political subdivision of deposits, lending, or other services or products provided by banks in accordance with applicable state or federal law shall be prohibited except to the extent expressly permitted under article
10.5
of this title.
(II)
Nothing in this subsection (2) shall preclude a political subdivision from enacting and enforcing laws or rules of general applicability concerning public health, safety, or welfare.
(b)
For the purposes of this section, "political subdivision" means and includes every county, city and county, city, town, school district, special district, and housing authority within the state.
Amended by 2013 Ch. 282,§ 32, eff. 7/1/2013.
L. 2003: Entire article added with relocations, p. 1052, § 3, effective July 1. L. 2013: (1) amended, (SB 13-154), ch. 282, p. 1472, § 32, effective July 1.
This section is similar to former § 11-1-105 as it existed prior to 2003.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › BANKS (§§ 11-101-101 — 11-111-116) › COLORADO BANKING CODE (§§ 11-101-101 — 11-111-116) › Article 101 - GENERAL PROVISIONS (§§ 11-101-101 — 11-101-401) › Part 3 - APPLICATION (§§ 11-101-301 — 11-101-302) › Section 11-101-302 - No private right of action

Except as expressly provided in this code, no person, other than the banking board, shall have the right to bring or maintain any private action, at law or in equity, for a violation of or enforcement of this code.
L. 2003: Entire article added with relocations, p. 1053, § 3, effective July 1.
This section is similar to former § 11-1-106 as it existed prior to 2003.