Current law allows a credit union that has its principal place of business in Colorado (state credit union) to open one or more new branches anywhere in Colorado 30 days after providing written notice to the state commissioner of financial services. The bill allows a state credit union to open new branches in other states, as well, with the same notice requirement. The bill also permits the state commissioner of financial services to enter into agreements with other state credit union regulators for the purposes of examination and supervision of out-of-state offices.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)