§ 11-109-802 — Injunctions - appeals

Colorado § 11-109-802

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Trust Companies

Text

(1) Whenever the banking board has
taken possession of a trust company and the trust company deems itself aggrieved
thereby, such trust company, within ten days after such taking, may apply to the
court in which notice of possession has been filed to enjoin further proceedings.
After citing the banking board to show cause why further proceedings should not
be enjoined and after a hearing, the court may dismiss the application of the trust
company or may enjoin the banking board from further liquidation proceedings and
direct the banking board to surrender possession of the trust company.

(2) An appeal may be taken by the banking board or by the trust company
from the judgment of the court in the manner provided by law for appeals from
judgments of the district court. An appeal from the judgment does not operate as a
stay of judgment. If the appeal is taken by the banking board, no bond need be
given, but if the appeal is taken by the trust company, a bond shall be given as
required by the Colorado rules of civil procedure.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1202, � 3, effective July 1.