S.B. 96-56 Credit unions - copies of articles of incorporation to commissioner - payment on deposits - repeal of 1991/1992 general fund advance repayment - date of dissolution. Changes the number of duplicate copies of articles of incorporation, bylaws, and certificates of approval that must be prepared for credit union organization from triplicate to a number specified by the state bank commissioner.
Expands a Colorado credit union's ability to receive payment on deposits from nonmember financial institutions to include those supervised under the laws of another state or territory of the United States.
Deletes a provision that required the state commissioner of financial services to collect the semiannual repayment of 1991/1992 fiscal year general fund advance until January 31, 1995.
Alters the credit union dissolution procedures by having the credit union dissolve on the date the certificate of dissolution is executed.
APPROVED by Governor April 8, 1996
EFFECTIVE April 8, 1996
H.B. 96-1047 Reporting requirements - annual reports of loans - repeal. Repeals provisions, partially overlapping or conflicting with provisions of more recent legislation, that require financial institutions to report the aggregate dollar amount of loans made in various geographical areas during the preceding year.
APPROVED by Governor March 13, 1996
EFFECTIVE March 13, 1996
H.B. 96-1347 Savings and loans and savings banks - federally chartered entities - exemption from reporting requirements. Exempts federally chartered savings and loan associations and savings banks that are under the supervision of the federal office of thrift supervision from the requirements for reports on deposits and Colorado loan activities if such institutions agree to be examined by the financial services board to confirm the accuracy of such reports.
APPROVED by Governor April 8, 1996
EFFECTIVE April 8, 1996
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