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Can you summarize 11 CORS Article 105?
Colorado Banking Code > BANKING PRACTICES
Short Summary
This legal document governs branch banks and practices in the state of Colorado. It applies to state banks or state banks chartered in another jurisdiction. The document prohibits state banks or their agents from operating any facility, agency, or paying or receiving station that would constitute a branch, except for facilities authorized by the United States treasury department. The document also prohibits banks from engaging in certain business activities, such as issuing, underwriting, or promoting the sale of securities, unless specific exceptions apply. Additionally, it states that a state bank cannot assume liability as an insurer or become a guarantor or endorser of any security instrument or obligation in which it has no property interest. The document also sets requirements for maintaining bank accounts and conducting lawful examinations of the institution. No specific penalties are mentioned in this document.
Whom does it apply to?
State banks or state banks chartered in another jurisdiction
What does it govern?
Branch banks and practices in the state of Colorado
What are exemptions?
No specific exemptions are mentioned in this document.
What are the Penalties?
No specific penalties are mentioned in this document.
Jurisdiction
Colorado