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Current as of January 01, 2022 | Updated by FindLaw Staff
In addition to powers regarding liquidation or reorganization, the banking board may, in the interest of protecting the public and the depositors of a closed state bank or national banking association with its principal office in this state, issue a new bank charter to qualified individuals for the same location as the closed bank, contingent upon the new bank assuming full liability for such deposits of the closed bank as may be transferred to it. Under such conditions, a new charter may be issued summarily without the publication of notice, without the holding of a public hearing, and without complying with any of the other provisions and procedures specified in this code.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 11. Financial Institutions § 11-103-808. Emergency grant of new charter - last updated January 01, 2022 | https://codes.findlaw.com/co/title-11-financial-institutions/co-rev-st-sect-11-103-808/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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