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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) A trust company shall not make any loans or extensions of credit except as provided in subsection (2) of this section.
(2) A trust company may:
(a) Make a loan or extend credit to its officers, directors, and employees if such loan or credit is adequately secured and does not involve more than the normal risk of default or present other unfavorable features. Any loan or extension of credit in excess of twenty-five thousand dollars shall be subject to prior approval by the banking board.
(b) Establish with one or more broker-dealers margin accounts in its name as fiduciary or custodian for the benefit of the owners or beneficiaries of such accounts.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 11. Financial Institutions § 11-109-907. Extensions of credit - last updated January 01, 2025 | https://codes.findlaw.com/co/title-11-financial-institutions/co-rev-st-sect-11-109-907/
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 before relying on it for your legal needs.
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