Colorado Statutes
§ 11-109-204 — Federal deposit insurance required
(1)No trust company may
accept or hold savings deposits, time deposits, or certificates of deposit pursuant to
section 11-109-201 (1)(d) unless such deposits are insured by the federal deposit
insurance corporation or its successor.
(2)Each trust company shall immediately give notice to the banking board
when it has applied to the federal deposit insurance corporation or its successor for
deposit insurance and, thereafter, shall give bi-monthly reports on the status of its
application for deposit insurance to the banking board until final disposition of the
application is made.
Free access — add to your briefcase to read the full text and ask questions with AI
Colorado § 11-109-204 (Federal deposit insurance required) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Source: L. 2003: Entire article added with relocations, p. 1183, � 3, effective
July 1.
Nearby Sections
15
§ 11-10.5-101
Short title§ 11-10.5-102
Legislative declaration§ 11-10.5-103
Definitions§ 11-10.5-104
Applicability of article§ 11-10.5-105
Authority of banking board§ 11-10.5-107
Eligible collateral - uninsured public deposits§ 11-10.5-109
Verification of collateral held - reports required§ 11-10.5-110
Procedures when event of default occurs§ 11-10.5-112
Annual fees and assessments§ 11-101-101
Short title§ 11-101-102
Declaration of policy§ 11-101-201
Effect on existing banks§ 11-101-301
Application of code§ 11-101-302
No private right of action