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(1) The banking board shall establish by rule an independent administrative appeals process to address an adverse material supervisory determination that affects a state bank. For purposes of this section, a “material supervisory determination” means:
(a) An examination rating, including composite scores, information technology, and trust department ratings;
(b) A determination relating to the adequacy of loan loss reserve provisions;
(c) A disputed asset classification exceeding ten percent of the state bank's total capital;
(d) A determination relating to violations of law or regulation; and
(e) Any other determination that may have an effect on a state bank's capital, earnings, operating flexibility, or capital category for prompt corrective action purposes, or may otherwise affect the nature and level of supervisory oversight accorded the state bank.
(2) In promulgating the rule provided for in this section, the banking board shall apply the following criteria, considerations, and policies:
(a) The initial appeal shall be heard by one or more people selected by the banking board who did not participate in and does not report to anyone who made the material supervisory determination under review;
(b) The banking board shall establish safeguards to protect from retaliation a state bank that files an appeal;
(c) All appeals shall be in writing, on forms approved by the banking board, and approved by the appellant's governing principal or a majority of principals;
(d) All appeals shall be heard within ninety days after filing and decided within one hundred eighty days after filing;
(e) The banking board shall classify the state banks that are eligible to appeal;
(f) The banking board shall encourage informal resolution procedures;
(g) The banking board shall encourage coordination with other state and federal regulatory authorities; and
(h) To the extent that federal guidelines are consistent with this section, the banking board shall model the rule provided for in this section on relevant federal guidelines.
(3) Notwithstanding any other provision of this section, an appeal of an adverse material supervisory determination shall not affect, delay, or impede any formal or informal supervisory or enforcement action in progress.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 11. Financial Institutions § 11-102-203.5. Independent administrative review of material supervisory determinations--rules - last updated January 01, 2019 | https://codes.findlaw.com/co/title-11-financial-institutions/co-rev-st-sect-11-102-203-5.html
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