Relocate Title 12 Regulation Of Financial Institutions

Committee on Legal Services. Current law directs the Office of Legislative Legal Services to study the organizational recodification of title 12, Colorado Revised Statutes, which relates to professions and occupations. To implement the initial recommendations of the study, the bill relocates the following laws:

• Article 13 of title 12, pursuant to which the commissioner of financial services and the financial services board regulate life care institutions, to article 49 of title 11 ( section 1 of the bill); and
• Article 52 of title 12, pursuant to which the banking board and the state bank commissioner regulate money transmitters, to article 110 of title 11 ( sections 2 and 3 ).

Section 13 repeals the articles where these laws were previously codified, and sections 5 through 12 make conforming amendments.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)