3 Colo. Code Regs. § 703-3-4.3
Current through Register Vol. 47, No. 22, November 25, 2024
Section 3 CCR 703-3-4.3 - Incidental Powers(a) In accordance with C.R.S. 11-30-104(1)(i), a credit union may engage in any activity authorized for a federal credit union as an incidental power under the National Credit Union Administration Rules and Regulations, 12 C.F.R. part 721, in effect as of October 31, 2012. The activities covered by the National Credit Union Administration Rules and Regulations, 12 C.F.R., part 701.30, in effect as of October 31, 2012are incidental powers for purposes of this rule. Incorporation by reference of these federal rules do not include amendments to this rule made after October 31, 2012. The title and address of the division employee responsible for providing information regarding how the incorporated material may be obtained or examined is as follows: Commissioner, Division of Financial Services, 1560 Broadway, Suite 950, Denver, Colorado 80202. These materials are available at no cost on the Division of Financial Services website at www.dora.colorado.gov/dfs. This material is also available by contacting the National Credit Union Administration 1775 Duke Street, Alexandria, Virginia, 22314-3428.(b) To engage in an activity that may be within a credit union's authority, pursuant to C.R.S. 11-30-104(1)(j), but does not fall within a category of activities referenced in subsection (a) of this rule, a credit union may submit an application for the prior written approval of the Commissioner. The application shall be in such form and contain such information as prescribed by the Commissioner. In approving an application, the Commissioner may establish such terms or conditions to the approval as necessary to ensure that any approved activity does not adversely impact the credit union. C.R.S. 11-30-104(1)(i) and (j)39 CR 15, August 10, 2016, effective 9/1/2016