Colorado § 11-71-102 Definitions

Colorado Statutes

§ 11-71-102 — Definitions

Colorado·Title 11 Financial·Art. Confidentiality of Compliance

As used in this article, unless the context otherwise requires:

(1)Compliance review committee means:

(a)An audit committee, loan review committee, or compliance committee appointed by the board of directors of a depository institution, as defined in subsection (3) of this section; or

(b)Any other person who is not an employee or director who acts in an investigatory capacity at the direction of a compliance review committee.

(2)Compliance review documents means documents exclusively prepared for or created by a compliance review committee.

(3)(a) Depository institution means:

(I)A person organized, chartered, doing business, or holding an authorization charter under the laws of this state or the United States to receive deposits, which person is supervised or examined f

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As used in this article, unless the context otherwise
requires:

(1) Compliance review committee means:

(a) An audit committee, loan review committee, or compliance committee
appointed by the board of directors of a depository institution, as defined in
subsection (3) of this section; or

(b) Any other person who is not an employee or director who acts in an
investigatory capacity at the direction of a compliance review committee.

(2) Compliance review documents means documents exclusively prepared
for or created by a compliance review committee.

(3) (a) Depository institution means:

(I) A person organized, chartered, doing business, or holding an authorization
charter under the laws of this state or the United States to receive deposits, which
person is supervised or examined for the protection of depositors by an official or
agency of a state or the United States. Deposits includes deposits in savings,
share, certificate, or other deposit accounts.

(II) A trust company or other institution that is chartered pursuant to article
109 of this title.

(b) Depository institution does not include an insurance company or other
organization primarily engaged in the business of insurance.

(4) Loan review committee means a person or group of persons who, on
behalf of a depository institution, reviews loans held by such institution for the
purpose of assessing the credit quality of the loans, compliance with the
institution's loan policies, and compliance with applicable laws and regulations.

(5) Person means an individual, group of individuals, board, committee,
partnership, firm, association, corporation, or other legal entity.

Colorado § 11-71-102 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 95: Entire article added, p. 210, � 1, effective April 13. L. 2004: (3)(a)(II) amended, p. 325, � 15, effective April 7; (3)(a)(II) amended, p. 1191, � 23, effective August 4.