Colorado Legislative Council Staff
NO FISCAL IMPACT
Bill Status: Fiscal Analyst:
February 1, 1998
Business Affairs and Labor
Will Meyer (866-4976)
TITLE: CONCERNING THE REGULATION OF INDUSTRIAL BANKS, AND, IN CONNECTION THEREWITH, REPEALING REFERENCES TO THE INDUSTRIAL BANK GUARANTEE FUND AND PROVIDING FOR PARITY BETWEEN STATE AND INDUSTRIAL BANKS.
Summary of Assessment
The provisions of this bill would make changes to the regulation of industrial banks. The bill would repeal obsolete provisions pertaining to the Industrial Bank Savings Guarantee Corporation, which has been dissolved. The bill also would clarify certain restrictions pertaining to the use of the words “Industrial Bank” in public advertising and provides for parity between state commercial banks and industrial banks with respect to certain employee loans and limited security sales authority. The bill would become effective upon signature of the Governor.
The provisions of the bill would not affect the workload of the Division of Banking, Department of Regulatory Agencies, or any other agency of the state, or unit of local government. Therefore, this bill is assessed as having no fiscal impact.