2020 Colorado Revised Statutes
Title 11 - Financial Institutions
Article 110. Money Transmitters
Section 11-110-107. Application for license.
(1) Application for a license shall be made in writing, under oath, to the banking board on such form as it may prescribe. The application shall:
State the name of the applicant and the address of his or her principal office;
Contain evidence that the applicant possesses qualifications and experience as required by the banking board pursuant to rule. If the applicant is a joint stock association, common law trust, unincorporated company or association, limited liability company, or corporation, the secretary or any assistant secretary thereof shall certify the name and address of each of the officers, directors, trustees, or other managing officials together with a designation of the office or offices held by each and evidence that each individual possesses the qualifications and experience required by the banking board pursuant to rule and shall submit the certificate to the banking board with the application.
State the date and place of incorporation;
If the applicant has one or more branches, subsidiaries, affiliates, agents, or otherlocations at or through which the applicant proposes to engage in the business of issuing checks, drafts, money orders, or other instruments for the transmission or payment of money or credit, state the name and address of each such location;
Contain a set of fingerprints for each of the owners, principal shareholders, principalmembers, directors, trustees, officers, or other managing officials. The commissioner shall forward the fingerprints to the Colorado bureau of investigation for the purpose of obtaining a fingerprint-based criminal history record check. Upon receipt of fingerprints and payment for the costs, the Colorado bureau of investigation shall conduct a state and national fingerprint-based criminal history record check utilizing records of the Colorado bureau of investigation and the federal bureau of investigation. The board shall be the authorized agency to receive information regarding the result of any national criminal history record check. Only the actual costs of the record check shall be borne by the applicant.
Contain such other data, financial statements, and pertinent information as the banking board may require from time to time with respect to the applicant or its directors, trustees, officers, members, branches, subsidiaries, affiliates, or agents.
(2) Each application for a license shall be accompanied by financial statements of the applicant and a bond in the form and the amount specified in this article 110.
Source: L. 2017: Entire article added with relocations, (SB 17-226), ch. 159, p. 578, § 2, effective August 9.
Editor's note: This section is similar to former § 12-52-106 as it existed prior to 2017.
