Colorado § 11-110-401 - Implementation - rules.

§ 11-110-401. Implementation - rules.

(1) Powers. In order to carry out the purposes of this article 110, the banking board may, subject to the provisions of section 11-110-402 (1) and (2):

(a) Enter into agreements or relationships with other government officials or federal and state regulatory agencies and regulatory associations in order to improve efficiencies and reduce regulatory burden by standardizing methods or procedures and sharing resources, records, or related information obtained under this article 110;

(b) Use, hire, contract, or employ analytical systems, methods, or software to examine or investigate any person subject to this article 110;

(c) Accept, from other state or federal governmental agencies or officials, licensing, examination, or investigation reports made by such other state or federal governmental agencies or officials; and

(d) Accept audit reports made by an independent certified public accountant or other qualified third-party auditor for an applicant or licensee and incorporate the audit report in any report of examination or investigation.

(2) Broad administrative authority - rules.

(a) The banking board has broad administrative authority to:

(I) Administer, interpret, and enforce this article 110;

(II) Adopt rules implementing this article 110, including rules to conform to applicable federal regulations;

(III) Recover the cost of administering and enforcing this article 110 by imposing and collecting proportionate and equitable fees and costs associated with applications, examinations, and investigations; and

(IV) Take other reasonable actions required to achieve the purposes of this article 110.

(b) The powers, duties, and functions of the banking board and the commissioner set forth in article 102 of this title 11 and the declaration of policy set forth in section 11-101-102 apply to this article 110. For purposes of this section and section 11-102-104, the banking board has the same powers, duties, and functions concerning a violation of this article 110, or a rule adopted pursuant to this article 110, as the board has concerning a violation of the "Colorado Banking Code", articles 101 to 109 and article 10.5 of this title 11, or a rule adopted pursuant to that code.

Source: L. 2025: Entire article R&RE, (HB 25-1201), ch. 91, p. 383, § 1, effective August 6.