SB13-154 Summary

• Extends the sunset date for the Division of Banking and Banking Board from July 1, 2013 to September 1, 2024, continuing their operations under Colorado law

• Repeals Article 108 (industrial banks) and Part 10 of Article 109 (private family trust companies) of Title 11, C.R.S., removing these regulatory structures

• Expands banking privileges to allow interstate branching, mergers, and acquisitions by out-of-state and Colorado-chartered banks effective July 1, 2013, with specific procedural requirements

• Updates numerous statutory references throughout Colorado law to remove references to industrial banks and clarify banking institution definitions, regulatory authority, and consumer protections

• Implements recommendations from the 2012 sunset report by the Department of Regulatory Agencies regarding banking regulation and modernizes banking code provisions effective July 1, 2013