Colorado § 11-102-501 Banking interests of officers and employees - violation

Colorado Statutes

§ 11-102-501 — Banking interests of officers and employees - violation

Colorado·Title 11 Financial·Art. Division of Banking

No
officer or employee of the division shall be an officer, director, attorney, owner, or
shareholder in any bank, or, except as provided in this article 102, receive, directly
or indirectly, any payment or gratuity from any such bank, or be indebted to any
bank or other institution over which the division has supervisory control. Willful
violation of this section is declared to be a criminal offense. This section does not
prohibit being a depositor or the lessee of a safe deposit box on the same terms as
are available to the public generally, or being indebted to a bank: Upon a mortgage
loan upon the mortgagor's own home, or upon an installment debt transferred to a
bank in the regular course of business by a seller of consumer goods including
automobiles purchased by the office

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No
officer or employee of the division shall be an officer, director, attorney, owner, or
shareholder in any bank, or, except as provided in this article 102, receive, directly
or indirectly, any payment or gratuity from any such bank, or be indebted to any
bank or other institution over which the division has supervisory control. Willful
violation of this section is declared to be a criminal offense. This section does not
prohibit being a depositor or the lessee of a safe deposit box on the same terms as
are available to the public generally, or being indebted to a bank: Upon a mortgage
loan upon the mortgagor's own home, or upon an installment debt transferred to a
bank in the regular course of business by a seller of consumer goods including
automobiles purchased by the officer or employee. Further, this section does not
prohibit the five banker members of the banking board, provided for in section 11-102-103 (1)(a), from being executive officers in banks and from receiving bona fide
compensation as such officers.

Colorado § 11-102-501 (Banking interests of officers and employees - violation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1076, � 3, effective July 1. L. 2022: Entire section amended, (SB 22-013), ch. 2, p. 92, � 126, effective February 25.