§ 11-105-402 — Banking property - acquisition

Colorado § 11-105-402

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Banking Practices

Text

(1) A state bank may invest in
fixed assets of the bank or the stock or obligations of any corporation holding such
fixed assets or may make loans to or upon the security of the stock of any such
corporation, but the aggregate of all such investments and loans shall not exceed
one hundred percent of the bank's capital, as provided in the rules promulgated by
the banking board; except that the banking board may approve a larger investment
upon application of the bank if the banking board deems the same prudent. As used
in this subsection (1), fixed assets means real estate, leasehold improvements,
fixtures, furniture, and equipment; real estate and leasehold improvements
include land and buildings to be used in the transaction of the bank's business and
any excess space that may be rented to others.

(2) The rate of depreciation of property so acquired may be prescribed by the
banking board.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1125, � 3, effective July 1.