Colorado § 11-110-403 - Supervision.

§ 11-110-403. Supervision.

(1) The banking board may conduct an examination or investigation of a licensee or authorized delegate or otherwise take independent action authorized by this article 110 or by a rule adopted or order issued under this article 110 as reasonably necessary or appropriate to administer and enforce this article 110, rules implementing this article 110, and other applicable law, including the bank secrecy act and the federal "USA PATRIOT Act", Pub.L. 107-56. The banking board may:

(a) Conduct an examination either on site or off site as the board may reasonably require;

(b) Conduct an examination in conjunction with an examination conducted by representatives of other state agencies or agencies of another state or of the federal government;

(c) Accept the examination report of another state agency or an agency of another state or of the federal government, or a report prepared by an independent accounting firm, which, upon being accepted, is considered for all purposes as an official report of the board; and

(d) Summon and examine under oath a key individual or employee of a licensee or authorized delegate and require the key individual, employee, or authorized delegate to produce records regarding any matter related to the condition and business of the licensee or authorized delegate.

(2) A licensee or authorized delegate shall provide, and the banking board shall have full and complete access to, all records the board may require to conduct a complete examination. The records must be provided at the location and in the format specified by the board; however, the board may utilize multistate record production standards and examination procedures when such standards will reasonably achieve the requirements of this subsection (2).

(3) Unless otherwise directed by the banking board, a licensee shall pay all costs reasonably incurred in connection with an examination of the licensee or the licensee's authorized delegates.

Source: L. 2025: Entire article R&RE, (HB 25-1201), ch. 91, p. 385, § 1, effective August 6.