Code of Colorado Regulations
700 - Department of Regulatory Agencies
703 - Division of Financial Services
3 CCR 703-1 - RULES AND REGULATIONS OF THE COLORADO DIVISION OF FINANCIAL SERVICES PERTAINING TO SAVINGS AND LOAN ASSOCIATIONS
Section 14 - BUSINESS PLANS AND DIRECTORS' POLICIES

Universal Citation: 3 CO Code Regs 703-1 ยง 14

Current through Register Vol. 47, No. 5, March 10, 2024

14-1. Business Plans. Each savings and loan association shall prepare a written business plan that specifies the association's operating goals and details the strategies to achieve the association's goals. The plan shall consist of a narrative and proforma financial statements. Said business plan shall reflect a minimum period of three years into the future, updated no less than annually.

14-2. Each association's business plan and any amendments thereto shall be approved by the association's board of directors, at which time such plan or amendments shall become effective. Such approval shall be recorded in the minutes of the board of directors.

14-4. Directors' Policies. The board of directors of each savings and loan association shall establish sufficient written policies to guide the association's operations. The directors shall annually review and revise, as necessary, all policies previously established.

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