§ 11-47-120 — Authority to accept deposits - acceptance of insured deposits

Colorado § 11-47-120

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Protection of Deposits of Public Moneys

Text

Any state-chartered savings and loan association, or any federally chartered
savings and loan association having its principal office in this state that is
authorized by the laws of this state or of the United States to accept deposit
accounts or savings deposits, is authorized to accept and hold, and any
governmental unit is authorized to make and maintain in such association, deposits
of public moneys as provided in this article. Any such association is authorized to
accept and hold, and any governmental unit is authorized to make and maintain
therein, deposits of public moneys to the extent that the full amount thereof is
insured by the federal deposit insurance corporation or its successor, even though
such association has not elected to be designated as an eligible public depository
under the provisions of this article.

Legislative History

Source: L. 75: Entire article added, p. 406, � 1, effective July 1. L. 2004: Entire section amended, p. 146, � 43, effective July 1.