17-5832.Compliance review committees; functions; confidentiality of
certain documents; definitions; exceptions.
(a) For the purposes of this section:
(1) "Institution" means a state chartered or federally chartered savings and
loan association or a federally chartered savings bank, located in this state;
(2) "compliance review committee" means:
(A) An audit, loan review or compliance committee appointed by the board of
directors of an institution; or
(B) any other person to the extent the person acts in an investigatory
capacity at the direction of a compliance review committee;
(3) "compliance review documents" means documents prepared for or created by
a compliance review committee;
(4) "loan review committee" means a person or group of persons who, on
behalf of an institution, reviews loans held by the institution for the purpose
of
assessing the credit quality of the loans, compliance with the institution's
loan policies and compliance with applicable laws and regulations; or
(5) "person" means an individual, group of individuals, board, committee,
partnership, firm, association, corporation or other entity.
(b) This section applies to a compliance review committee whose functions
are to evaluate and seek to improve loan underwriting standards, asset quality,
financial reporting to federal or state regulatory agencies or compliance with
federal or state statutory or regulatory requirements.
(c) Except as provided in subsection (d):
(1) Compliance review documents are confidential and are not discoverable or
admissible in evidence
in any civil action arising out of matters evaluated by the compliance review
committee; and
(2) compliance review documents delivered to a federal or state governmental
agency remain confidential and are not discoverable or admissible in evidence
in any civil action arising out of matters evaluated by the compliance review
committee.
(d) Subsection (c) does not apply to any information required by statute or
rules and regulations to be maintained by or provided to a governmental agency
while the information is in the possession of the governmental agency to the
extent applicable law expressly authorizes its disclosure.
(e) This section may not be construed to limit the discovery or
admissibility in any civil action of any documents that are not compliance
review documents.
17-5832.Compliance review committees; functions; confidentiality of
certain documents; definitions; exceptions.
(a) For the purposes of this section:
(1) "Institution" means a state chartered or federally chartered savings and
loan association or a federally chartered savings bank, located in this state;
(2) "compliance review committee" means:
(A) An audit, loan review or compliance committee appointed by the board of
directors of an institution; or
(B) any other person to the extent the person acts in an investigatory
capacity at the direction of a compliance review committee;
(3) "compliance review documents" means documents prepared for or created by
a compliance review committee;
(4) "loan review committee" means a person or group of persons who, on
behalf of an institution, reviews loans held by the institution for the purpose
of
assessing the credit quality of the loans, compliance with the institution's
loan policies and compliance with applicable laws and regulations; or
(5) "person" means an individual, group of individuals, board, committee,
partnership, firm, association, corporation or other entity.
(b) This section applies to a compliance review committee whose functions
are to evaluate and seek to improve loan underwriting standards, asset quality,
financial reporting to federal or state regulatory agencies or compliance with
federal or state statutory or regulatory requirements.
(c) Except as provided in subsection (d):
(1) Compliance review documents are confidential and are not discoverable or
admissible in evidence
in any civil action arising out of matters evaluated by the compliance review
committee; and
(2) compliance review documents delivered to a federal or state governmental
agency remain confidential and are not discoverable or admissible in evidence
in any civil action arising out of matters evaluated by the compliance review
committee.
(d) Subsection (c) does not apply to any information required by statute or
rules and regulations to be maintained by or provided to a governmental agency
while the information is in the possession of the governmental agency to the
extent applicable law expressly authorizes its disclosure.
(e) This section may not be construed to limit the discovery or
admissibility in any civil action of any documents that are not compliance
review documents.
17-5832.Compliance review committees; functions; confidentiality of
certain documents; definitions; exceptions.
(a) For the purposes of this section:
(1) "Institution" means a state chartered or federally chartered savings and
loan association or a federally chartered savings bank, located in this state;
(2) "compliance review committee" means:
(A) An audit, loan review or compliance committee appointed by the board of
directors of an institution; or
(B) any other person to the extent the person acts in an investigatory
capacity at the direction of a compliance review committee;
(3) "compliance review documents" means documents prepared for or created by
a compliance review committee;
(4) "loan review committee" means a person or group of persons who, on
behalf of an institution, reviews loans held by the institution for the purpose
of
assessing the credit quality of the loans, compliance with the institution's
loan policies and compliance with applicable laws and regulations; or
(5) "person" means an individual, group of individuals, board, committee,
partnership, firm, association, corporation or other entity.
(b) This section applies to a compliance review committee whose functions
are to evaluate and seek to improve loan underwriting standards, asset quality,
financial reporting to federal or state regulatory agencies or compliance with
federal or state statutory or regulatory requirements.
(c) Except as provided in subsection (d):
(1) Compliance review documents are confidential and are not discoverable or
admissible in evidence
in any civil action arising out of matters evaluated by the compliance review
committee; and
(2) compliance review documents delivered to a federal or state governmental
agency remain confidential and are not discoverable or admissible in evidence
in any civil action arising out of matters evaluated by the compliance review
committee.
(d) Subsection (c) does not apply to any information required by statute or
rules and regulations to be maintained by or provided to a governmental agency
while the information is in the possession of the governmental agency to the
extent applicable law expressly authorizes its disclosure.
(e) This section may not be construed to limit the discovery or
admissibility in any civil action of any documents that are not compliance
review documents.