Colorado § 11-105-501 Safe deposit boxes - leasing and subsidiary company

Colorado Statutes

§ 11-105-501 — Safe deposit boxes - leasing and subsidiary company

Colorado·Title 11 Financial·Art. Banking Practices

(1)Subject to such rules as the banking board may prescribe, a bank may maintain and lease safe deposit boxes and may accept property for safekeeping if, except in the case of night depositories, it issues a receipt therefor.

(2)A bank may own stock in a safe deposit company located in the same community in which the bank is doing business, not exceeding in aggregate cost fifteen percent of its capital and surplus, but at least ninety percent of the stock in such safe deposit company in which such stock is so owned must be owned by banks or trust companies.

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(1)
Subject to such rules as the banking board may prescribe, a bank may maintain and
lease safe deposit boxes and may accept property for safekeeping if, except in the
case of night depositories, it issues a receipt therefor.

(2) A bank may own stock in a safe deposit company located in the same
community in which the bank is doing business, not exceeding in aggregate cost
fifteen percent of its capital and surplus, but at least ninety percent of the stock in
such safe deposit company in which such stock is so owned must be owned by
banks or trust companies.

Colorado § 11-105-501 (Safe deposit boxes - leasing and subsidiary company) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1126, � 3, effective July 1. L. 2009: (1) amended, (HB 09-1053), ch. 159, p. 689, � 8, effective August 5.