Colorado Code
Part 8 - Liquidation, Dissolution, and Reorganization
§ 11-103-808. Emergency Grant of New Charter

In addition to powers regarding liquidation or reorganization, the banking board may, in the interest of protecting the public and the depositors of a closed state bank or national banking association with its principal office in this state, issue a new bank charter to qualified individuals for the same location as the closed bank, contingent upon the new bank assuming full liability for such deposits of the closed bank as may be transferred to it. Under such conditions, a new charter may be issued summarily without the publication of notice, without the holding of a public hearing, and without complying with any of the other provisions and procedures specified in this code.
Source: L. 2003: Entire article added with relocations, p. 1108, § 3, effective July 1.
Editor's note: This section is similar to former § 11-5-108 as it existed prior to 2003.

Structure Colorado Code