Notwithstanding any other provision of law, no trust company shall indemnify or insure any executive officer, director, employee, agent, or person participating in the conduct of affairs of such trust company against civil money penalties.
Source: L. 2003: Entire article added with relocations, p. 1194, § 3, effective July 1.
Editor's note: This section is similar to former § 11-23-119.2 as it existed prior to 2003.
Structure Colorado Code
Title 11 - Financial Institutions
Part 6 - Offenses, Penalties, Removal, Suspension, and Enforcement
§ 11-109-601. Penalty for Noncompliance With the Law
§ 11-109-601. Penalty for Noncompliance With the Law
§ 11-109-602. Assessment of Civil Money Penalties by Banking Board
§ 11-109-603. No Indemnification or Insurance Against Civil Money Penalties
§ 11-109-604. Removal of Director, Officer, or Other Person
§ 11-109-605. Suspension of Director, Officer, or Other Person