Colorado § 11-10.5-102 - Legislative declaration.
Full text of Colorado Colorado Revised Statutes § 11-10.5-102 — Legislative declaration., with citation guidance and answers to common questions.
§ 11-10.5-102. Legislative declaration.
(1) The general assembly hereby declares that the purpose of this article is to serve the taxpayers and the citizens of Colorado by establishing standards and procedures to ensure the preservation and protection of all public funds held on deposit by a bank that are either not insured by or are in excess of the insured limits of federal deposit insurance, and to ensure the expedited repayment of such funds in the event of default and subsequent liquidation of a bank which holds such deposits.
(2) The general assembly further finds, determines, and declares that the protection of public funds on deposit in banks is a matter of statewide concern and importance and that as such:
(a) The provisions of this article shall prevail over any local government ordinance or resolution and over any home rule or territorial charter provision in conflict therewith; and
(b) The requirement that a national bank comply with the provisions of this article neither encroaches upon the prerogatives of a nationally chartered bank nor exceeds the authority of the state of Colorado.
Source: L. 89: Entire article R&RE, p. 593, § 1, effective September 1.
Editor's note: This section is similar to former § 11-10.5-102 as it existed prior to 1989.
Frequently Asked Questions About Colorado § 11-10.5-102
What does Colorado Revised Statutes § 11-10.5-102 cover?
Section 11-10.5-102 ("Legislative declaration.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 11-10.5-102?
A common citation format is "Colorado Revised Statutes § 11-10.5-102" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 11-10.5-102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.