Colorado § 11-71-102 - Definitions.
Full text of Colorado Colorado Revised Statutes § 11-71-102 — Definitions., with citation guidance and answers to common questions.
§ 11-71-102. Definitions.
As used in this article, unless the context otherwise requires:
(1) "Compliance review committee" means:
(a) An audit committee, loan review committee, or compliance committee appointed by the board of directors of a depository institution, as defined in subsection (3) of this section; or
(b) Any other person who is not an employee or director who acts in an investigatory capacity at the direction of a compliance review committee.
(2) "Compliance review documents" means documents exclusively prepared for or created by a compliance review committee.
(3) (a) "Depository institution" means:
(I) A person organized, chartered, doing business, or holding an authorization charter under the laws of this state or the United States to receive deposits, which person is supervised or examined for the protection of depositors by an official or agency of a state or the United States. "Deposits" includes deposits in savings, share, certificate, or other deposit accounts.
(II) A trust company or other institution that is chartered pursuant to article 109 of this title.
(b) "Depository institution" does not include an insurance company or other organization primarily engaged in the business of insurance.
(4) "Loan review committee" means a person or group of persons who, on behalf of a depository institution, reviews loans held by such institution for the purpose of assessing the credit quality of the loans, compliance with the institution's loan policies, and compliance with applicable laws and regulations.
(5) "Person" means an individual, group of individuals, board, committee, partnership, firm, association, corporation, or other legal entity.
Source: L. 95: Entire article added, p. 210, § 1, effective April 13. L. 2004: (3)(a)(II) amended, p. 325, § 15, effective April 7; (3)(a)(II) amended, p. 1191, § 23, effective August 4.
Frequently Asked Questions About Colorado § 11-71-102
What does Colorado Revised Statutes § 11-71-102 cover?
Section 11-71-102 ("Definitions.") 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 § 11-71-102?
A common citation format is "Colorado Revised Statutes § 11-71-102" (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 § 11-71-102 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.