If a constituent bank has assets that do not conform to the requirements of state law for the resulting bank, or if a converting national bank has assets that do not conform to the requirements of a state law for the converted state bank, or if, in either case, there are business activities that are not permitted for the resulting or converted state bank, the banking board may permit a reasonable time to conform with state law.
Source: L. 2003: Entire article added with relocations, p. 1098, § 3, effective July 1.
Editor's note: This section is similar to former § 11-4-109 as it existed prior to 2003.
Structure Colorado Code
Title 11 - Financial Institutions
Article 103 - Organization and Corporate Functions
Part 7 - Merger, Consolidation, Conversion, and Sale of Assets
§ 11-103-701. Merger or Conversion
§ 11-103-702. Approval of Merger by Directors
§ 11-103-703. Approval by Banking Board
§ 11-103-704. Approval by Stockholders - Rights of Dissenters
§ 11-103-705. Effective Date of Merger - Certificate
§ 11-103-706. Continuation of Corporate Entity
§ 11-103-707. Conversion From State Bank to National and Vice Versa
§ 11-103-708. Nonconforming Assets
§ 11-103-709. Sale of All Assets of Bank, Branch, or Department