SB 17-226

Senate Bill 17-226, which has been signed into law, moves certain financial regulations from one part of Colorado’s legal code to another. Specifically, it transfers rules about life care institutions and money transmitters from Title 12 to Title 11. This change makes the state's laws easier to navigate by grouping similar types of financial services together under a single title. The bill affects businesses regulated by these sections, such as banks and other financial service providers in Colorado. Since it has been signed, the changes are now part of Colorado’s official statutes.

Official Summary

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.)

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