§ 11-107-104 — Unlawful gratuity, compensation, or transactions

Colorado § 11-107-104

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Criminal Offenses

Text

(1) It is a
criminal offense for an affiliate of a state bank or for an officer, director, or
employee of a state bank or affiliate of a state bank:

(a) To solicit, accept, or agree to accept, directly or indirectly, from any
person other than the institution, any gratuity, compensation, or other personal
benefit for any action taken by the institution, or for endeavoring to procure any
such action;

(b) To have any interest, direct or indirect, in the purchase at less than its
face value of any evidence of indebtedness issued by the institution.

(2) In this section and section 11-105-101 (5), the term affiliate of a state
bank shall include:

(a) Any person who holds a majority of the stock of the bank or has been
determined by the banking board to hold a controlling interest therein, any other
corporation in which such person owns a majority of the stock, and any partnership
in which such person has an interest;

(b) Any corporation in which the state bank or an officer, director, or
employee thereof holds a majority of the stock and any partnership in which such
person has an interest;

(c) Any corporation of which a majority of the directors are officers,
directors, or employees of the state bank or of which officers, directors, trustees, or
employees constitute a majority of the directors of the state bank.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1135, � 3, effective July 1.