§ 11-44-107 — Confidentiality

(1) Neither the commissioner, the commissioner's
deputy, nor any other person appointed by the commissioner shall divulge any
information acquired in the discharge of the person's duties; except that:

(a) A person specified in the introductory portion to this subsection (1) may
divulge information acquired in the discharge of the person's duties if doing so is
made necessary by law or under order of court in an action involving the division of
financial services or in criminal actions;

(b) Any party entitled to appear in a hearing on an application for a savings
and loan association charter or approval of a merger of savings and loan
associations shall have access to the applicant's proposed articles or amended
articles of incorporation, application for charter, and proposed bylaws;

(c) The commissioner may furnish information as to the condition of a
savings and loan association to a federal home loan bank, the savings and loan
departments of other states, an insurer authorized to insure obligations or accounts
pursuant to articles 40 to 47 of this title 11, the executive director of the
department of regulatory agencies, and the division of banking;

(d) The commissioner may give records or information in the commissioner's
possession to a licensing agency within the department of regulatory agencies
relating to possible misconduct by a person or entity licensed by said agency;

(e) The board, the commissioner, and their respective designees may
exchange information obtained by the division of financial services as to possible
criminal violations of law relating to the activities of a savings and loan association
with the appropriate law enforcement agencies; and

(f) Notwithstanding any provision contained in this article 44 to the contrary,
the commissioner, the commissioner's deputies, or other persons appointed by the
commissioner may disclose any information in the records of the division or
acquired in the discharge of the person's duties if the disclosure of the information
has been specifically authorized by the board of directors of the association to
which the information relates. Nothing in this section shall be construed to
authorize the board of directors of an association to waive any privileges that
belong solely to the financial services board or to the division or its employees.

Legislative History

Source: L. 33: p. 336, � 6. CSA: C. 25, � 52. CRS 53: � 122-6-7. C.R.S. 1963: � 122-5-7. L. 79: Entire section amended, p. 432, � 9, effective June 19. L. 84: Entire section amended, p. 381, � 10, effective May 11. L. 85: Entire section amended, p. 400, � 3, effective May 24. L. 89: Entire section amended, p. 617, � 4, effective July 1. L. 93: Entire section amended, p. 1452, � 10, effective June 6. L. 99: Entire section amended, p. 1012, � 6, effective August 4. L. 2008: Entire section amended, p. 180, � 2, effective August 5. L. 2024: (1)(c) and (1)(f) amended, (HB 24-1381), ch. 350, p. 2391, � 64, effective August 7.