DEPARTMENT OF REGULATORY AGENCIES FINANCIAL INSTITUTION ADMINISTRATIVE RULES 3 CCR 701-10 [Editor’s Notes follow the text of the rules at the end of this CCR Document.] _________________________________________________________________________ AR1 Appeal of a Material Supervisory Determination [Section 11-102-203.5, C.R.S., Section 11- 109-801, C.R.S.] A. Definitions

1. 1. “Appellant.” The institution filing an appeal of a material supervisory determination. Colorado state-chartered commercial banks and trust companies, Colorado licensed money transmitters, and Division of Banking regulated IT service providers are eligible institutions and may appeal a material supervisory determination.
2. 2. “Initial Appeal.” The first appeal of a material supervisory determination. The initial appeal is reviewed by the State Bank Commissioner (Commissioner). A determination may not be appealed until it has been received in writing by the appellant. A decision related to formal enforcement action may not be appealed under this Rule. A material supervisory determination remains in effect while under appeal, and until such time as it is modified or overturned through the appeal process.
3. 3. “Subsequent Appeal.” Any appeal of the findings of a prior appeal. Subsequent appeals are reviewed by the Banking Board.

B. Procedures for Filing An Appeal

1. 1. An appeal must be filed in writing with the Commissioner at 1560 Broadway, Suite 975, Denver, Colorado 80202, within sixty (60) calendar days of the appellant’s receipt of the written material supervisory determination. In order to be determined complete by the Commissioner, an appeal must include a certified copy of the minutes of the meeting at which the appellant's board of directors approved filing the appeal. If the appellant wishes to present oral testimony, a request to do so should be contained in the appeal.
2. 2. The written appeal must contain all the facts and information the appellant intends to have considered in deciding the appeal, but should not include information not available to the Division of Banking at the time the material supervisory determination being appealed was made.
3. 3. An appellant may request an extension of time for filing an appeal by sending a letter detailing the reason(s) for the request to the Commissioner within the sixty (60) calendar day period for filing appeals. The request shall indicate why a complete appeal cannot be filed within sixty (60) calendar days from receipt of the material supervisory determination, and shall indicate the date by which the appellant will file the appeal. The Commissioner may grant requests for extensions as circumstances warrant.

C. Review by the Commissioner

1. 1. The Commissioner shall ensure that a letter acknowledging receipt of the appeal is sent to the appellant within five (5)-calendar days of receipt of the appeal. The letter will acknowledge receipt of the appeal and inform the appellant when a determination as to completeness will be made. In addition, the Commissioner will provide the appellant with a copy of this Rule.
2. 2. The Commissioner shall notify the person(s) who made the material supervisory determination under appeal of the receipt of the appeal, and provide that person(s) with a copy of the appeal. The person(s) who made the determination will be given ten (10) calendar days to gather documentation related to the material supervisory determination under appeal and to provide additional written clarification of the matter under appeal.
3. 3. Within five (5) calendar days of receipt of the appeal, the Commissioner will review the appeal to determine if it is complete, if it is clear as to the matter being appealed and the basis for the appeal, and if it concerns a material supervisory determination. If the Commissioner determines that minor deficiencies in information or clarity exist in the appeal, he/she will contact the appellant by letter and request that specific additional documentation be forwarded to the Commissioner within ten (10) calendar days.
4. 4. If the information is not received within the stated timeframe, the Commissioner may return the appeal to the appellant together with a letter notifying the appellant of the deficiencies and stating that the appeal may be refiled within thirty (30) calendar days.
5. 5. If the Commissioner determines that the appeal is substantially deficient in terms of clarity or information or does not concern a material supervisory determination, he/she will return the appeal to the appellant together with a letter outlining the deficiencies and stating that the appeal may be refiled within thirty (30) calendar days. If the appellant made the request to provide oral testimony to the Commissioner, the appeal will not be deemed complete until the later of either the business day after all oral testimony has been heard or additional written information is received from the appellant, if such information is requested by the Commissioner.
6. 6. When the Commissioner determines that the appeal is complete, he/she will notify the appellant that a complete appeal was received. Upon the determination that the appeal is complete, the Commissioner shall notify the Banking Board of the date of receipt of a complete appeal and the date a final written decision is due. The Commissioner shall request that Division of Banking staff provide any views on the matter under appeal within fifteen (15) calendar days.
7. 7. If the appeal involves a joint material supervisory determination with another regulatory agency, the Commissioner shall provide a copy of the complete appeal to that agency upon determination that the appeal is complete. The Commissioner will indicate the date of receipt of a complete appeal and the date a final decision is required. The other agency will be provided an opportunity to comment on the appeal in advance of a final decision.
8. 8. Within sixty (60) calendar days of receipt of a complete appeal, the Commissioner may, at his/her sole discretion, solicit the views of the appellant, any Division of Banking staff involved in the determination under appeal, Attorney General staff, and the staff of other supervisory agencies. In addition, the Commissioner may conduct other forms of independent research or investigation as he/she deems necessary to decide the matter under appeal.
9. 9. The Commissioner shall issue written findings within ninety (90) calendar days of receiving the complete appeal, unless the appellant and the Commissioner jointly agree to extend the time for a decision. The written decision shall set forth the basis for the Commissioner’s conclusions, including the scope of the review, and appropriate citations to legal authority, to Banking Board Rules, to Division of Banking policies, and to documentation provided by the appellant or the Division of Banking staff.
10. 10. The Commissioner shall send the written decision to the appellant by certified mail and will provide copies to the person(s) who made the material supervisory determination.

D. Review by the Colorado State Banking Board

1. 1. An appellant may appeal an adverse determination by the Commissioner within thirty (30) calendar days of the appellant’s receipt of the adverse decision. This subsequent appeal shall include a certified copy of the minutes of the board of directors’ meeting at which the subsequent appeal was authorized.
2. 2. The appeal shall be filed with the Colorado State Banking Board at 1560 Broadway, Suite 975, Denver, Colorado 80202, and must include all facts and information that the appellant intends for the Banking Board to consider. The Banking Board Administrator shall forward a copy of the appeal to the Chairman of the Banking Board within five (5) calendar days after receipt of the appeal.
3. 3. The Chairman of the Banking Board shall review the appeal for informational completeness and clarity as to the matter under appeal and shall notify the appellant of any deficiencies, consistent with the procedures for initial appeals.
4. 4. The Chairman of the Banking Board shall obtain the record of the initial appeal from the Commissioner and provide the Commissioner with a copy of the subsequent appeal. If the appeal raises issues not addressed in the initial appeal, the person(s) who made the material supervisory determination under appeal shall notify the Chairman of the Banking Board. The Chairman of the Banking Board shall provide fifteen (15) calendar days for the person(s) who made the material supervisory determination to provide a written response to the new material.
5. 5. When the Chairman of the Banking Board determines that the subsequent appeal is complete, he/she shall:
   1. a. Notify the appellant of receipt of a complete subsequent appeal and of the due date for a final written determination;
      1. b. Notify the Banking Board members of the date of the Banking Board meeting at which the subsequent appeal will be discussed and decided;
      2. c. Send a copy of the complete subsequent appeal file and the complete initial appeal file to each member of the Banking Board, and d. Provide a copy of the subsequent appeal file to any other regulatory agency that may have participated in the underlying material supervisory determination, along with notice of the date a final determination is required, and the due date for receipt of that agency’s comments.
6. 6. The Banking Board shall hear oral testimony from the appellant, if the appellant intends to present such testimony, within ninety (90) calendar days of receipt of the complete subsequent appeal; and shall issue written findings within one hundred eighty (180) calendar days of receiving the complete subsequent appeal, unless the appellant and the Banking Board jointly agree to extend the time for decision.
7. 7. The Banking Board shall send the written decision to the appellant by certified mail and will provide a copy to the Commissioner.

E. Failure to comply with the procedures of this Rule shall result in a waiver of subsequent appeal rights and judicial review of a material supervisory determination.

F. Protection of Appellant from Retaliation

1. 1. Regardless of the outcome of an appeal, the person(s) who directly participated in the supervisory determination subject to appeal shall not participate in matters affecting the appellant for at least one examination cycle, but in no case for a period less than one year after the final decision of an appeal filed by the appellant. In addition, in cases where the material supervisory determination is overturned on appeal, the person(s) materially participating in the determination shall not participate in matters affecting the appellant for one year, or such longer period as the Commissioner determines to be appropriate. The Commissioner, at his/her discretion, may extend further the recusal period whenever such an extension is determined to be appropriate.
2. 2. Eligible institutions that believe that they have suffered retaliation as the result of an Appeal may contact the Chairman of the Banking Board at 1560 Broadway, Suite 975, Denver, Colorado 80202.

AR2 Repealed and reserved for future use.

AR3 Application Procedure. [Section 11-103-302, C.R.S., Section 11-103-303, C.R.S., Section 11- 109-301, C.R.S., Section 11-109-302, C.R.S., Section 11-110-107, C.R.S., Section 11-110-110, C.R.S., Section 11-10.5-106, C.R.S.] A. Persons desiring to organize a state bank, Colorado state-chartered trust company, or obtain licensure as a Colorado money transmitter, or certification as an eligible public depository or escrow institution, or submit any other application listed on the Colorado Division of Banking fee schedule shall complete and submit such application forms as may be required by the Commissioner from time to time. The Commissioner shall not accept for filing any application that is not complete in accordance with the instructions thereon. The Commissioner shall not accept for filing any application that does not have attached thereto the filing fee in the amount and in the manner prescribed by Paragraph (B) of this Rule.

B. Applicants for institutions described in Paragraph (A) of this Rule, and applicants submitting applications listed on the Colorado Division of Banking fee schedule must pay a filing fee in the amount set forth on the Colorado Division of Banking fee schedule as established by the Banking Board pursuant to Section 11-102-104 (11), C.R.S., at the time of filing each application. The filing fee shall be remitted to the Colorado Division of Banking in a form approved by the Colorado Division of Banking. If the application is withdrawn by the applicant prior to the date set for public hearing by the Banking Board, the Commissioner shall refund the filing fee to the applicant in a form approved by the Colorado Division of Banking. AR4 Protests to Applications for Charter, Service Area Definition, and Economic Feasibility Studies [Section 11-102-201, C.R.S., Section 11-103-304, C.R.S., Section 11-109-306, C.R.S.] A. Any person, firm, or corporation desiring to protest an application for charter for a proposed state bank or trust company shall file with the Commissioner a notice of protest in accordance with the following schedule:

1. Notice of Hearing on Notice of Protest Due to be Motion to Dismiss Due to be Application for Charter Filed with Commissioner Filed with Commissioner Given Prior to Hearing Prior to Hearing Prior to Hearing 30-60 days 20 days 15 days 60-90 days 40 days 30 days 90 days or more 60 days 45 days

B. Any protest desiring to file a motion to dismiss a charter application based upon defects in the application or in the notice of filing pursuant to Section 11-103-303(3), C.R.S. shall file such motion within the time provided in the schedule in Paragraph (A) of this Rule.

C. Any de novo state bank, conversion to a state bank, or trust company granted preliminary approval subsequent to the published notice of hearing shall not be barred by this Rule from protesting an application for charter if the requirements of this Rule are not met in a timely manner.

D. Failure to comply with the requirements (A) - (C) of this Rule may result in the denial of the right to appear, be heard, and introduce testimony at a charter application hearing.

E. Each applicant for charter shall file with the Commissioner and deliver to each person, firm, or corporation that has filed a notice of protest, at least sixty (60) calendar days prior to the hearing on the application, a definition of the primary service area for the proposed bank and a definition of the secondary service area, if any, that the proposed bank or trust company intends to serve.

F. If the applicant for charter intends to offer a study of the economic feasibility of the proposed bank or trust company at the hearing, it shall be filed in the office of the Commissioner and delivered to each person, firm, or corporation that has filed a notice of protest at least thirty (30) calendar days prior to the hearing.

G. If the protestant intends to offer a study of the economic feasibility of the proposed bank or trust company at the hearing, such study shall be filed in the office of the Commissioner and delivered to the applicant twenty (20) calendar days prior to the hearing.

H. If the applicant for charter has any rebuttal economic feasibility material on which the applicant intends to rely, that is made necessary by a protestant’s economic feasibility study, such rebuttal economic feasibility material shall be filed in the office of the Commissioner and delivered to each person, firm, or corporation that has filed a notice of protest at least ten (10) calendar days prior to the hearing.

I. Mailing, with proof of mailing, three (3) calendar days prior to a delivery date shall be deemed to constitute delivery on the required date.

J. Failure to comply with (E) - (I) of this Rule may cause the Commissioner to exclude the study, and testimony based thereon, from the hearing or to continue the hearing to another date. AR5 Repealed and reserved for future use.

AR6 Repealed and reserved for future use.

AR7 Prehearing Conference. [Section 11-103-304, C.R.S.] A. The Commissioner may, on his or her own initiative, or at the request of any party, direct all parties and their counsel to meet with him or her at a specified time and place prior to any hearing:

1. 1. To determine the necessity or desirability of amendments to an application;
2. 2. To determine the names of witnesses and a general statement of the testimony expected of each witness;
3. 3. To determine the number, description and purpose of exhibits intended to be offered at hearing and require the offering party to produce exhibits for inspection and marking at prehearing conference;
4. 4. To determine matters, if any, of which the Banking Board will be requested to take administrative notice;
5. 5. To consider any other matters that will simplify the issues and further aid in expeditious conduct at the hearing.

B. The Commissioner may require all parties to list, in writing, witnesses, exhibits and any matters that might expedite the hearing. A conference may, if requested in advance by any party, be recorded. If no verbatim transcript is taken, the Commissioner shall prepare a summarized report reciting the results of the conference. The report may be received into evidence by the Banking Board during open hearing.

C. Failure to comply with this Rule may cause the Commissioner to continue a hearing to another date, or to preclude an offering party from introducing exhibits into evidence or from calling witnesses at the time of hearing.

AR8 Repealed and reserved for future use.

AR9 Nature of Hearings [Section 11-102-103(8), C.R.S.] A. All hearings and the taking of testimony before the Banking Board shall be open to the public. The Banking Board may, at any time, retire into executive session to consult with the Colorado Attorney General's office or to discuss any records deemed confidential under Section 11-102- 306, C.R.S.

AR10 Transcripts [Section 24-4-105(13), C.R.S.] A. Hearings shall be recorded.

B. All testimony taken at hearings shall be transcribed.

C. Copies of transcripts of hearings shall be made available to any person upon payment to the reporter of the costs thereof.

D. Upon the filing of transcripts by the reporter, all parties shall be provided an opportunity to file motions to correct the record. The Banking Board shall rule upon such motions prior to its deliberations upon the facts introduced at hearing.

AR11 Order of Procedure [Section 24-4-105(4), C.R.S.] A. Parties to hearings shall, unless otherwise ordered by the Banking Board, be limited to the following orders of procedure:

1. 1. Primary party in interest. The primary party in interest shall present his case by calling witnesses and submitting other evidence;
2. 2. Other parties in interest. Other persons admitted as parties to the hearing may thereupon present witnesses and other evidence;
3. 3. Joint hearings. In the event that the Banking Board conducts a single hearing to consider more than one application, then the party first perfecting its application shall first present its case, followed by the party that was second in perfecting its application.

B. Thereafter, other parties in interest may present witnesses and other evidence. If the parties applying for a charter intend to introduce evidence for the purpose of rebuttal, they shall do so in the order that they presented their cases.

1. 1. Further evidence. The Banking Board may, of its own initiative, call for the production of further evidence upon any issue. It may also produce independent evidence through the Attorney General that is material to the issues or necessary to complete the record;
2. 2. Examination of witnesses. As may be permitted by the Banking Board, any witness shall be subject to cross, re-direct and re-cross examination;
3. 3. Time allocation. The primary party in interest shall be permitted a time allocation as determined by the Banking Board upon request within which to present his/her case and within which to cross-examine adverse witnesses. Likewise, any other person admitted as a party to the hearing shall be allotted a time allocation as determined by the Banking Board upon request. When there is more than one such other person admitted as a party to the hearing, these parties in interest collectively shall be allotted a time allocation as determined by the Banking Board upon request and shall apportion such time among themselves. The Banking Board for good cause shown, may, upon motion, enlarge or diminish the times prescribed by this Rule, and may order time limits as necessary. AR12 Oral Argument-Briefs-Reopening [Section 24-4-105(4), C.R.S.]

A. The Banking Board may permit oral argument and submission of briefs at the hearing. In addition, the Banking Board may, upon appropriate notice to all parties and other interested persons, reopen any hearing at any time prior to the public announcement of its findings, conclusions, and order. Proceedings that have been reopened shall be conducted pursuant to the Rules established herein for hearings.

AR13 Decision and Order Procedures of the Banking Board [Section 11-102-104, C.R.S.].

1. Copies of every decision and order issued by the Colorado State Banking Board (Banking Board) shall be furnished by the Commissioner to all parties involved in the proceedings, appropriate state and federal supervisory authorities, and to other interested persons as determined by the Commissioner.

2. All decisions and orders must be signed by the Chairman of the Banking Board or designee and bear the date of official publication. Each decision and order shall be attached to the official minutes of the Banking Board accompanied by a certificate indicating the recipients of the copies. AR14 Declaratory Orders [Section 11-102-104(9), C.R.S.] A. Any person may petition the Banking Board for a declaratory order to terminate controversies or to remove uncertainties as to the applicability to the petitioner of any statutory provision or of any Rule or order of the Banking Board.

B. The Banking Board will determine, in its discretion, whether to rule upon any such petition. If the Banking Board determines that it will not rule upon such a petition, the Banking Board shall promptly notify the petitioner of its action and state the reasons for such action.

C. In determining whether to rule upon a petition filed pursuant to this Rule, the Banking Board will consider the following matters among others:

1. 1. Whether a ruling on the petition will terminate a controversy or remove uncertainties as to the applicability to petitioner of any statutory provision or Rule or order of the Banking Board.
2. 2. Whether the petition involves any subject, question or issue that is the subject of a formal or informal matter or investigation currently pending before the Banking Board or a court involving one or more of the petitioners.
3. 3. Whether the petition involves any subject, question, or issue that is the subject of a formal or informal matter or investigation currently pending before the Banking Board or a court but not involving any petitioner.
4. 4. Whether the petition seeks a ruling on a moot or hypothetical question or will result in an advisory ruling or opinion.
5. 5. Whether the petitioner has some other adequate legal remedy, other than an action for declaratory relief pursuant to Rule 57, Colorado Rules of Civil Procedure, that will terminate the controversy or remove any uncertainty as to the applicability to the petitioner of the statute, Rule, or order in question.

D. Any petition filed pursuant to this Rule shall set forth the following:

1. 1. The name and address of the petitioner and whether the petitioner is licensed pursuant to Section 11-103-101, C.R.S., et seq.
2. 2. The statute, Rule or order to which the petition relates.
3. 3. A concise statement of all of the facts necessary to show the nature of the controversy or uncertainty and the manner in which the statute, Rule or order in question applies, or potentially applies, to the petitioner.

E. If the Banking Board determines that it will rule on the petition, the following procedures shall apply:

1. 1. The Banking Board may rule upon the petition based solely upon the facts presented in the petition. In such a case:
   1. a. Any ruling of the Banking Board will apply only to the extent of the facts presented in the petition and any amendment to the petition.
      1. b. The Banking Board may order the petitioner to file a written brief, memorandum or statement of position.
      2. c. The Banking Board may set the petition, upon due notice to petitioner, for a non- evidentiary hearing.
      3. d. The Banking Board may dispose of the petition on the sole basis of the matters set forth in the petition.
      4. e. The Banking Board may request the petitioner to submit additional facts, in writing. In such event, such additional facts will be considered as an amendment to the petition.
      5. f. The Banking Board may take administrative notice of facts pursuant to the State Administrative Procedure Act, Section 24-4-105 (8), C.R.S., and may utilize its experience, technical competence, and specialized knowledge in the disposition of the petition.
      6. g. If the Banking Board rules upon the petition without a hearing, it shall promptly notify the petitioner of its decision.
2. 2. The Banking Board may, in its discretion, set the petition for hearing, upon due notice to petitioner, for the purpose of obtaining additional facts or information or to determine the truth of any facts set forth in the petition or to hear oral argument on the petition. The notice to the petitioner setting such hearing shall set forth, to the extent known, the factual or other matters into which the Banking Board intends to inquire. For the purpose of such a hearing, to the extent necessary, the petitioner shall have the burden of proving all of the facts stated in the petition, all of the facts necessary to show the nature of the controversy or uncertainty and the manner in which the statute, Rule or order in question applies or potentially applies to the petitioner, and any other facts the petitioner desires the Banking Board to consider.

F. The parties to any proceeding pursuant to this Rule shall be the Banking Board and the petitioner. Any other person may seek leave of the Banking Board to intervene in such a proceeding, and leave to intervene will be granted at the sole discretion of the Banking Board. A petition to intervene shall set forth the same matters as required by Paragraph (D) of this Rule. Any reference to a “petitioner” in this Rule also refers to any person who has been granted leave to intervene by the Banking Board.

G. Any declaratory order or other order disposing of a petition pursuant to this Rule shall constitute agency action subject to judicial review pursuant to Section 24-4-106, C.R.S. AR15 Records Retention [Section 11-102-104, C.R.S.] A. Every state financial institution shall retain records for at least the minimum periods of time as outlined under Paragraph (B) and (C) of this Rule. If other records with similar information, not enumerated in this Rule, are maintained by a financial institution, the retention period for the equivalent record should be followed. Record maintenance may include the use of automated or electronic records provided the records are easily retrievable, readily available for inspection, and capable of being reproduced in a hard copy.

B. Each depository institution shall permanently retain the following records: RECORDS THAT REQUIRE PERMANENT RETENTION Audit Reports to Directors Permanent Charged Off Asset Records Permanent Articles of Incorporation or Other Association, Bylaws and Other Records of Permanent Organization, Amendments, etc.

Bank Charter Permanent Bank Examiner’s Report Permanent Directors’ Examination Reports Permanent Surety Bonds Permanent Minute Books of Meetings (Stockholders, Directors) Permanent Required Reports to Supervisory Agencies Permanent Canceled Capital Stock Certificates Permanent Capital Stock Certificates Permanent Capital Stock Certificate Records of/or Stubs Permanent Capital Stock Ledger Permanent Capital Stock Transfer Ledger Permanent Capital Stock Transfer Register Permanent Receipts for Stock Certificates Permanent Receipts for Canceled Stock Certificates, Canceled Bonds, and Coupons Permanent Records of Stock Issuance and Transfer Permanent Shareholder List Permanent Statements of Beneficial Ownership Permanent Stock Certificate Book Permanent Stock Register Book Permanent Surety Bond for Lost Certificate Permanent Charged-off Loan Ledger Permanent Charged-off Records and Loan Ledger Permanent Daily Statement of Condition Permanent Affidavits of Lost Passbooks and Records of Transactions Based Thereon Permanent Savings Ledger Card or Sheet on Unclaimed or Dormant Deposits Permanent Bonds of Indemnity Permanent Dividend and Coupon Ledger Permanent Minutes of Investment and Trust Committee Meetings Permanent C. All other records, reports, or evidence of transactions shall be retained for a minimum period as required by taxing authorities, other state or federal regulations, and consistent with prudent business practices, unless the Banking Board deems it necessary to prescribe a longer period of time. The following is a list of suggested retention periods: SUGGESTED RECORD RETENTION PERIODS ACCOUNTING AND AUDITING Bank Call, Income, and Dividend Reports 5 Years Certified Checks 7 Years Certified Statements (FDIC) 5 Years Debit and Credit Tickets (If Source of Original Entry) 1 Year Differences Record 1 Year Drafts 7 Years Expense Checks 7 Years Expense Vouchers or Invoices 7 Years Financial Statements, Consolidated 7 Years Income and Dividend Report 5 Years Income and Expense Report 7 Years Money Order 7 Years Office Equipment, Depreciation Records 7 Years Paid Bills, Statements, and Invoices 7 Years Paid Cashier's Checks, Certified Checks, or Receipts Therefor 7 Years Report to Directors and Executive Committee 6 Years Tax Records 7 Years ADMINISTRATION General .

Determination of FDIC Assessment Base Records 5 Years Statements of Directors and Principal Officers 2 Years Insurance .

Authorization Statements and Certificates for Bank to Act as Insurance 6 Years Agent Bankers Blanket Bond 6 Years After Termination Records Relating to Insurance Sold by Bank 6 Years Records of All Bank Insurance (Showing Policy Numbers, Premiums Paid, 6 Years After and Amounts Recovered) Termination Legal .

Attachments and/or Garnishments 6 Years Legal Records (Copies of Court Orders, Decrees, Petitions, Adjudications, 6 Years Pleadings, etc.)

Reports to Directors and Executive Committee 6 Years Tax .

Tax Controversies or Proceedings 7 Years Tax Records 7 Years CAPITAL Dividend Checks 7 Years Dividend Register 7 Years CERTIFICATES OF DEPOSIT Certificates 6 Years After Payment Information Return (1099) 7 Years Ledger Cards 6 Years Signature Cards 6 Years After Payment Transaction Journal (If Statement of Account History Not Otherwise 6 Years Retained)

1. CHECKING ACCOUNTS/TRANSACTION ACCOUNTS Account Analysis (Work Sheets or Cards, Average Balance Cards, Interest 2 Years Computation Records, Service Charge Records, Statement Stubs) Bookkeepers Daily Lists of Checks Charged in Total to Customer Accounts 2 Years (Short Lists)

Copies of Advices of Deposits 2 Years Copies of Advices of Debits and Credits 2 Years Customer Statements 6 Years Daily Report of Overdrafts 6 Years Daily Transactional Journal 2 Years Deposit Tickets and Other Credits 2 Years Individual Ledgers 2 Years Paid Checks (Front and Back) 3 Years Partnership Agreement and Authority 7 Years After Closing Records of Current Transactions of More than $10,000 5 Years Resolutions and Customer Authorizations 6 Years After Account Closed Signature Cards 7 Years After Account Closed Statement Mailing Order 1 Year Statement Receipt Cards 1 Year Stop Payment Order After Expiration or Release 6 Years Taxpayer ID/SS# of Depositor 5 Years After Account Closed Undelivered Statements and Canceled Checks 2 Years CHECKING ACCOUNTS/TRANSACTION ACCOUNTS - EDP SECTION Customer Statement 6 Years Overdrafts 6 Years Service Charges 2 Years Stop Payment Reports 6 Years Transaction Journal 2 Years COLLECTIONS Collection Payment Records 1 Year Collection Receipts (Copy) 1 Year Collection Register 1 Year Coupon Cash Letters (Outgoing) 1 Year Incoming Collection Letters 1 Year Incoming Contract or Note Letters 6 Years After Closing Installment Contract or Note Records 6 Years Outgoing Collection Letters and Register 1 Year COMMERCIAL LOANS Collateral Receipt Record/Register 6 Years Credit Files 6 Years After Termination of Account Evidence of Compliance With Fair Credit Reporting Act 2 Years After Closing Evidence of Compliance With Regulation Z Truth in Lending 2 Years After Each Required Disclosure Guaranteed Loans (Complete Files) 6 Years Liability Ledger 6 Years Loan Applications 25 Months Loan Committee Minutes 6 Years Note or Discount Register (If Used as Book of Original Entry With 6 Years After Descriptions) Termination of Account Receipts for Coupons Removed From Collateral 6 Years Records of Currency Transactions of More Than $100,000 5 Years Resolutions 6 Years After Closing Statement of Purpose Under Regulation U 3 Years After Close of Account Transaction Journal (If Used as Book of Original Entry) 6 Years CONSUMER CREDIT Borrower's Statement 6 Years Consumer Reports and Consumer Credit Information 2 Years Correspondence 2 Years Coupon Payments and Loan Deposits (If Only Source of Original Entry) 6 Years Credit Applications and Information (Declined) 25 Months Evidence of Compliance With Fair Credit Reporting Act 2 Years Evidence of Compliance With Regulation Z Truth in Lending 2 Years After Each Required Disclosure Installment Contracts or Note Records 6 Years Loan Journals, Records and Note Register (If Only Source of Original Entry) 6 Years Loan Ledger Cards or Sheets 6 Years Loan Deposit and Loan Payment Posting Journals (If Only Source of 6 Years Original Entry)

Note Register (If Used as Book of Original Entry With Descriptions) 6 Years Rebate Receipts 6 Years Resolutions 6 Years Statement Regarding Loan Secured by Stock 3 Years CONSUMER CREDIT - EDP SECTION Daily Payment Journal 6 Years Pay Off and/or Rebate Report 6 Years Trial Balance (If Only Complete History on Borrower) 6 Years CREDIT CARDS Borrower's Statement 6 Years Credit Applications and Information (Declined) 25 Months Loan Journal (If Only Source of Original Entry) 6 Years Loan Ledger Cards 6 Years After Account Closed Sales Drafts 6 Years CUSTOMER SERVICE Brokers' Confirmations 6 Years Brokers' Invoices 6 Years Brokers' Statements 6 Years Night Depository Agreements and Resolutions 6 Years Safekeeping Records and Receipts 6 Years After Close of Account Securities Buy and Sell Orders 6 Years After Date of Order DUE FROM BANKS Bank Statements 7 Years Drafts (Original) 7 Years Information and Documents Pertaining to Issuance of Duplicate Checks and 7 Years After Check Drafts Draft Paid DUE TO BANKS Copies of Advices 7 Years Country Bank Ledger 7 Years Domestic Ledger 7 Years Foreign Ledger 7 Years Incoming Cash Letter Memos (See Proof) 2 Years Proof Sheets 2 Years Resolutions 6 Years After Account Closed Signature Cards 6 Years After Account Closed Undelivered Statements and Canceled Checks 2 Years GENERAL Foreign Exchange Remittance Sheets or Books 5 Years Night Depository Agreements 6 Years After Termination of Agreement Records of Currency Transactions of More Than $10,000 5 Years Vault Records, Openings and Closings 1 Year Wage Price Rent Freeze Records 4 Years GENERAL LEDGER General Journal (If Used as Book of Original Entry With Description) 6 Years General Ledger 6 Years General Ledger Tickets 6 Years INTERNATIONAL DEPARTMENT Cable Copies 6 Years Cable Requisitions 6 Years Foreign Asset Control Records 2 Years Foreign Collection Register 5 Years Foreign Draft Applications 5 Years Foreign Draft Carbons 5 Years Foreign Mail Transfer Applications 5 Years Letters of Credit Applications 6 Years After Payment in Full Letters of Credit Ledger 6 Years Records of Foreign Financial Accounts 5 Years INVESTMENTS Bond Ledger Sheets 6 Years Brokers' Confirmations 6 Years Brokers' Invoices 6 Years Brokers' Statements 6 Years Credit Information Regarding Securities Underwritten or Purchased for Own 6 Years After Closing Account OFFICIAL CHECKS AND DRAFTS Affidavits and Other Records Support Issuance of Duplicate Checks, Drafts 7 Years or Money Orders Cashier's Checks (Canceled) 7 Years Certified Checks or Receipts (Canceled and Not Returned) 7 Years Drafts (Canceled) 7 Years Expense Checks (Canceled) 7 Years Expense Vouchers or Invoices 7 Years Money Orders, Bank or Personal 7 Years Receipts for Certified Checks 7 Years Records of Currency Transactions of More Than $10,000 5 Years PERSONNEL Advertisements and Notices 1 Year After Personnel Action Attendance Records (Time Cards) 2 Years Business Expenses of Employees Reimbursed by Employer 7 Years Employee Records (Personnel Folders) After Termination 6 Years Employment Applications (Rejected) 1 Year Occupational Safety and Health Act (OSHA) Forms 5 Years Payroll Checks 7 Years Salary Ledger 7 Years Wage and Tax Statement (W-2) Records 4 Years Wage Differential Documentation 2 Years PROOF, CLEARING, AND TRANSIT Copies of Advices of Corrections 2 Years Incoming Cash Letters 2 Years Inclearing Proofsheets and/or Tapes 2 Years Outclearing Proofsheets and/or Tapes 2 Years Outgoing Cash Letters 2 Years REAL ESTATE LOANS Annual Reports and Customer Statements 6 Years Debit and Credit Entries (If only Source of Original Entry) 6 Years Evidence of Compliance With Fair Credit Reporting Act 2 Years Evidence of Compliance With Regulation Z Truth in Lending 2 Years After Each Required Disclosure Foreclosure Records 6 Years Guaranteed Loans Complete Files 6 Years After Termination Home Mortgage Disclosure Act Information 5 Years Ledger Cards 6 Years After Termination Loan Credit Files 6 Years After Closing RESPA Settlement Statements 2 Years Remittances 7 Years Transaction Journal (If Only Source of Original Entry) 6 Years REAL ESTATE - EDP SECTION Daily Payment Journal 6 Years SAFE DEPOSIT VAULT Access Tickets 6 Years Canceled Signature Cards 6 Years Copies of Rent Receipts 6 Years Forced Entry Records 6 Years After Date of Entry Leases or Contracts, Closed Accounts 6 Years Receipts for Delivery of Will, Burial Plot Deeds, Insurance Policies 6 Years Records and Reports of Contents of Opened Boxes 6 Years Records of Sale to Satisfy Lien 6 Years SAVINGS ACCOUNTS Deposit (Tickets) 6 Years Ledger Cards 6 Years Power of Attorney 6 Years After Close of Account Records of Currency Transactions More Than $10,000 5 Years Resolutions, Authorizations 7 Years Signature Cards 6 Years After Close of Account Tax Information Returns 7 Years Taxpayer ID# or SS# of Depositor 5 Years After Close of Account Transaction Journal (If Only Source of Original Entry) 6 Years Withdrawals (Receipts or Order) 6 Years SAVINGS ACCOUNTS - EDP SECTION Customer Statement 6 Years Interest Report 7 Years Transaction Journal 6 Years TELLERS Cash Item Register 1 Year Tellers' Blotter of Journals 1 Year Tellers' Difference Record 1 Year TRUST RECORDS Corporate .

Bond Ledger 7 Years After Termination of Account Brokers' Purchase and Sale Confirmations 7 Years Brokers' Statements 7 Years Buy and Sell Orders 7 Years Canceled Stock Certificates 7 Years Corporate Trust Ledger 7 Years Correspondence 7 Years Dividend Checks 7 Years Governing Instruments 7 Years After Termination of Trust Account Ledger Records 7 Years Receipts or Disposition for Canceled Stock Certificates, Canceled Bonds and 7 Years Coupons Registration Journals 7 Years After Termination of Account Signature Files 7 Years After Termination of Account Schedules of Distributions 7 Years Stock Transfer Ledger 7 Years Stock Transfer Memo 7 Years Tax Returns 7 Years Transfer Journal 7 Years Transfer Tax Waivers 7 Years Trust Asset Records 7 Years After Termination of Account Trust Journals (If Source of Original Entry) 7 Years After Last Entry Trust Posting Tickets (If Source of Original Entry) 7 Years Personal .

Accounting of Other Fiduciaries and Decrees, Receipts, or Releases Settling 7 Years After Receipt Accounts Account Review and Investment Recommendations 7 Years Adjudications 7 Years Annual Audits and Financial Reports; Appraisals of Real and Personal 7 Years Property Authorizations and Approvals of Co-Fiduciaries and Consultants 7 Years Brokers' Confirmations 7 Years Brokers' Statements 7 Years Buy and Sell Orders 7 Years Cash and Asset Ledgers 7 years Correspondence 7 Years Coupon Collection Record 7 Years Court Orders, Decrees, Petitions, etc. 7 Years Debits and Credits (If Source of Original Entry) 7 Years Federal Estate and State Inheritance Tax Returns 7 Years Federal and State Income Tax Returns 7 Years Federal Gift Tax Returns 7 Years Federal Nominee's Information Return 7 Years General Ledger 7 Years General Journal 7 Years Governing Instruments 7 Years Inventory Records 7 Years After Termination of Account Ledger Records 7 Years Legal Opinions and Related Correspondence 7 Years Letters of Appointment 7 Years After Termination of Appointment Participation Ledgers 7 Years Probate Records 7 Years After Termination of Account Real Estate Mortgage Documents and Related Material 7 Years Receipts, Authorizations, Directions, Approvals 7 Years Safekeeping Records and Receipts 7 Years Schedule of Distributions 7 Years Trust Agreements 7 Years After Date of Last Entry Trust Checks 7 Years UNCLAIMED PROPERTY Unclaimed Property Records 5 Years After Date Reportable Unclaimed Deposit Account Withdrawal Tickets or Checks 5 Years After Date Reportable Unclaimed or Dormant Deposit Ledgers (To Include Record of Date of Last 5 Years After Date Transaction or Communication From Owner) Reportable AR16 Assessments and Fees [Sections 11-102-401, 11-103-302, , 11-109-303, C.R.S.] A. Assessments

1. 1. In order to cover the expenses, net of fee income, of the Division of Banking for the supervision of Colorado state-chartered banks and trust companies subject to its jurisdiction, shall be assessed at least semi-annually as of June 30 and December 31.
2. 2. Each Colorado state-chartered bank and trust company subject to the jurisdiction of the Banking Board on either of the above dates shall be subject to the full assessment without proration for any reason.
3. 3. Assessments for all Colorado state-chartered banks and trust companies shall be the greater of an amount determined on a consistent basis as the sum of a fee based on a tiered rate applied to total assets contained in the report of condition of each institution submitted as of the quarter end immediately preceding the above assessment dates, or a minimum assessment determined by the Banking Board and published annually as of July 1 of each year.

B. Fees

1. 1. The Banking Board shall set fees annually by publishing a schedule of fees for services as of July 1 of each year.
2. 2. Such schedule shall list all services performed that are subject to a fee and the fee to be charged. In addition, the fee schedule shall list fees set by statute, if any.

C. Payment of Assessments and Fees

1. 1. Assessments and fees shall be remitted to the Colorado Division of Banking in a form approved by the Colorado Division of Banking.
2. 2. The assessment and any fee relating to examinations shall be paid within twenty (20) days after a statement of the amount thereof shall have been received by the institution.
3. 3. All other fees shall be paid at the time the service is rendered. Services relating to statutory application or notice are deemed to be rendered at the time of filing application or notice.

_________________________________________________________________________ Editor’s Notes History Rule AR6 repealed eff. 04/30/2016.

Rules AR1, AR3, AR4, AR10, AR11, AR12, AR13, AR14 B, AR14 C.5, AR14 E.1.f, AR16 eff. 09/14/2024. Rules AR2, AR5, AR6, AR8 repealed and reserved eff. 09/14/2024. Rule AR4 eff. 04/14/2025.

Rule AR13 eff. 06/14/2025.