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Can you summarize CORS 11-102-306?
RECORDS, REPORTING, AND INFORMATION > Information confidential.
Short Summary
This legal document governs the confidentiality of information acquired by the banking board, the commissioner, and their designees in the discharge of their duties. It applies to the banking board, the commissioner, their designees, the executive director of the department of regulatory agencies, the division of financial services, and banking or financial institution regulatory agencies of other states or United States territories. The document prohibits the divulgence of acquired information, except as necessary or authorized by law. It allows for the exchange of information with specified entities, subject to confidentiality agreements. The document also requires the executive director of the department of regulatory agencies and the state commissioner of financial services and their deputies to take an oath to keep acquired information secret, with willful violation of the oath being a criminal offense. There are exemptions for disclosure of publicly available information from specified entities and information specifically authorized by the board of directors of a bank.
Whom does it apply to?
The banking board, the commissioner, their designees, the executive director of the department of regulatory agencies, the division of financial services, and banking or financial institution regulatory agencies of other states or United States territories
What does it govern?
Confidentiality of information acquired by the banking board, the commissioner, and their designees in the discharge of their duties
What are exemptions?
Disclosure of publicly available information from specified entities and information specifically authorized by the board of directors of a bank
What are the Penalties?
Willful violation of the oath to keep information secret is a criminal offense
Jurisdiction
Colorado