# C.R.S. § 11-103-809: 11-103-809. Emergency grant of branch facility - legislative declaration

> Colorado · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-809

## Section

- **Citation:** C.R.S. § 11-103-809
- **Heading:** 11-103-809. Emergency grant of branch facility - legislative declaration
- **Jurisdiction:** Colorado
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** CO Code / Title 11 / Article 103 / Part 8 / Section 11-103-809

## Text

11-103-809. Emergency grant of branch facility - legislative declaration. (1) The general assembly hereby finds, determines, and declares that the economy of this state and its communities and the public interest will be better served by permitting financial institutions, as defined in section 11-101-401 (35), to operate at the same location as a closed bank.

(2) (a) In addition to powers regarding liquidation or reorganization, the banking board, in the interest of protecting the public and the depositors of a closed bank or national banking association with its principal place of business in this state, may issue an emergency grant of authority to another financial institution, which financial institution has acquired assets and liabilities of the closed bank, to operate a branch facility at the same location as the closed bank, or within a one-half mile radius of the location of the nearest point on the boundary of the premises of the closed bank's place of business, contingent upon the bank assuming full liability for the deposits of the closed bank as may be transferred to it. Such branch facility shall not be located at any other location if the other location is within three hundred feet of the boundary of the premises of another bank unless the other bank consents to a closer location.

(b) Under such conditions, the authority to operate the branch facility 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.

(3) No financial institution may hold, acquire, control, or operate more than two branch facilities pursuant to this section; however, if the banking board determines that, because of this limitation, no qualified financial institution can bid on the assets and liabilities of the closed bank, the banking board may authorize and issue such an emergency grant to another financial institution, in excess of such limit, but in no event more than two additional branch facilities.

(4) Notwithstanding any other provision of this section, a branch facility operated pursuant to this section on or before August 1, 1991, may continue to operate in perpetuity as a branch without being subject to any percentage limitation on branches as set forth in section 11-105-602.

## Nearby sections

- [C.R.S. § 11-103-801 11-103-801. Voluntary liquidation and dissolution](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-801.md)
- [C.R.S. § 11-103-802 11-103-802. Involuntary liquidation by banking board - reorganization](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-802.md)
- [C.R.S. § 11-103-803 11-103-803. Reorganization plan](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-803.md)
- [C.R.S. § 11-103-804 11-103-804. Liquidation by commissioner - procedure](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-804.md)
- [C.R.S. § 11-103-805 11-103-805. Federal deposit insurance corporation or successor as liquidator](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-805.md)
- [C.R.S. § 11-103-806 11-103-806. Assets sold or pledged as security](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-806.md)
- [C.R.S. § 11-103-807 11-103-807. Enforcement of directors' liability](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-807.md)
- [C.R.S. § 11-103-808 11-103-808. Emergency grant of new charter](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-808.md)
- [C.R.S. § 11-103-809 11-103-809. Emergency grant of branch facility - legislative declaration](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-809.md)
- [C.R.S. § 11-103-810 11-103-810. Preapproved shelf charter](https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-810.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CO_T11_A103_P8_S11-103-809. Check the current official text before relying on it. Not legal advice.