Colorado § 11-102-302 - Bank reports to banking board - generally.

§ 11-102-302. Bank reports to banking board - generally.

(1) Every state bank shall make and file with the banking board not less than three reports during each calendar year according to the form that may be prescribed by the banking board, verified by the oath of either the president, the vice-president, the cashier, or the secretary and attested by the signature of three or more of the directors. Each such report shall exhibit in detail, as may be required by the banking board, the resources and liabilities of the state bank at the close of business on the date specified by the banking board.

(2) Said reports shall be transmitted to the banking board within thirty days after its request.

(3) The banking board has power to call for special reports from any particular state bank if, in the banking board's judgment, the special reports are necessary to establish a full and complete knowledge of the state bank's condition. No such special report, nor any summary of a special report, shall be required to be published. The reports required by, and filed pursuant to, this section shall be in lieu of all others required by law from state banks. Every state bank that fails to comply with this section shall pay to the banking board a penalty in an amount set by the banking board pursuant to section 11-102-104 (11). The banking board, for valid reasons and good cause, may waive such penalty.

Source: L. 2003: Entire article added with relocations, p. 1069, § 3, effective July 1.

Editor's note: This section is similar to former § 11-2-109 as it existed prior to 2003.

ANNOTATION

Loan omitted from report to deceive commissioner is void. Where a bank failed to report or publish a certain bank loan as required by this section and had it done so the commissioner would have closed the bank, the evident purpose of the loan then was to deceive the commissioner in his performance of an official duty. Such contracts are contrary to public policy and void. Walther v. McFerson, 92 Colo. 314, 20 P.2d 552 (1933) (decided under repealed laws antecedent to CSA, C. 18, § 22, which were similar to this section).