§ 11-110-111. Examination – Fee – Financial Statements and Reports to Commissioner – Change in Control
The commissioner may examine the books and records of a licensee using risk-based criteria and considering other available regulatory mechanisms as directed by the banking board; shall make and file in the office of the commissioner a correct report in detail disclosing the results of the examination; and shall mail a copy of the report […]
§ 11-110-206. Violations
[ Editor’s note: This version of subsection (1) is effective until March 1, 2022.] A person who violates this part 2 commits a class 2 misdemeanor and, for the second or any subsequent offense, the person commits a class 1 misdemeanor and shall be punished as provided in section 18-1.3-501. (1) [ Editor’s note: This […]
§ 11-110-112. Change in Control – Rule
Except as specified in subsection (1)(b) or (1)(c) of this section, when a licensee proposes a change of control, the licensee shall: Give the commissioner written notice of the proposed change of control within fifteen days after learning of the proposed change of control; Request approval of the change of control; and Submit a nonrefundable […]
§ 11-110-113. Compliance With Federal Law
Each licensee shall comply with state and federal money laundering laws, including, but not limited to, the federal “Bank Secrecy Act”, 12 U.S.C. sec. 1951 et seq. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 584, § 2, effective August 9. Editor’s note: This section is similar to former § […]
§ 11-110-114. Multiple Locations
Each licensee may conduct business at locations within this state the licensee may desire and through agents and subagents the licensee may from time to time appoint. Each licensee shall notify the board by certified mail of any increase in the number of locations at which it conducts its business and shall provide proof that […]
§ 11-110-115. Revocation or Surrender of License
The banking board may, upon ten days’ notice served personally upon the licensee stating the contemplated action and the grounds therefor, hold a hearing at which the licensee shall have a reasonable opportunity to be heard, for the purpose of determining whether a license should be revoked. After the hearing the banking board may revoke […]
§ 11-110-116. Rules
The banking board may make, promulgate, alter, amend, or revise reasonable rules as may be necessary for the enforcement and execution of this article 110. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 585, § 2, effective August 9. Editor’s note: This section is similar to former § 12-52-113 as […]
§ 11-110-117. Review
Any person aggrieved and directly affected by an order of the banking board issued under this article 110 may seek a review in the district court of Colorado in and for the county in which the principal place of business of the licensee or applicant is located. The filing of such a petition for review […]
§ 11-110-118. Penalty for Violations
Any person who violates any provision of this article 110 is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than ten thousand dollars. Each such violation shall constitute a separate offense. Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 585, § […]
§ 11-110-119. Civil Remedies – Restraining Orders – Injunctions
If the board has cause to believe that a person has sold or issued exchange or transmitted money without a license issued under this article 110, the board may obtain from the district court of the city and county of Denver a temporary restraining order or a preliminary or permanent injunction prohibiting the person from […]