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 110 - MONEY TRANSMITTERS (§§ 11-110-101 — 11-110-206) › Part 1 - GENERAL PROVISIONS (§§ 11-110-101 — 11-110-121) › Section 11-110-107 - [Effective 8/7/2024] Application for license - rules

(1)
Application for a license must be made in writing, under oath, to the banking board on such form as it may prescribe. The application must:
(a)
State the name of the applicant and the address of the applicant's principal office;
(b)
Contain evidence that the applicant possesses qualifications and experience as required by the banking board pursuant to rule. If the applicant is a joint stock association, common law trust, unincorporated company or association, limited liability company, or corporation, the secretary or any assistant secretary thereof shall certify the name and address of each of the officers, directors, trustees, or other managing officials together with a designation of the office or offices held by each and evidence that each individual possesses the qualifications and experience required by the banking board pursuant to rule and shall submit the certificate to the banking board with the application.
(c)
State the date and place of incorporation;
(d)
If the applicant has one or more branches, subsidiaries, affiliates, agents, or other locations at or through which the applicant proposes to engage in the business of issuing checks, drafts, money orders, or other instruments for the transmission or payment of money or credit, state the name and address of each such location;
(e)
(I)
Contain a set of fingerprints for each of the owners, principal shareholders, principal members, directors, trustees, officers, or other managing officials, who must pay the actual costs of the record check.
(II)
The commissioner shall perform a fingerprint-based criminal history record check of the persons described in subsection (1)(e)(I) of this section by forwarding the fingerprints to either the federal bureau of investigation or the Colorado bureau of investigation.
(III)
Upon receipt of fingerprints and payment for the costs, the Colorado bureau of investigation shall conduct a state and national fingerprint-based criminal history record check utilizing records of the Colorado bureau of investigation and the federal bureau of investigation. The Colorado bureau of investigation shall return the results of its criminal history record check to the board, and the board is the authorized to receive the results of the federal bureau of investigation's criminal history record check.
(f)
Contain such other data, financial statements, and pertinent information as the banking board may require from time to time with respect to the applicant or its directors, trustees, officers, members, branches, subsidiaries, affiliates, or agents.
(2)
Each application for a license shall be accompanied by financial statements of the applicant and a bond in the form and the amount specified in this article 110.
Amended by 2024 Ch. 341,§ 10, eff. 8/7/2024.
Amended by 2024 Ch. 341,§ 6, eff. 8/7/2024.
Renumbered from C.R.S. §12-52-106 and amended by 2017 Ch. 159, §2, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 578, § 2, effective August 9.
This section is similar to former § 12-52-106 as it existed prior to 2017.
2024 Ch. 341, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2024 Ch. 341, 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.