Sunset Process - House Business Affairs and Labor Committee. The bill implements the recommendations in the 2023 sunset report by the department of regulatory agencies by: Continuing the division of banking and the banking board (board) for 9 years, until 2033 ( sections 1 through 3 of the bill); Authorizing a credit union to purchase the assets and liabilities of a state bank ( section 9 ); Amending the board composition by repealing the requirement that 2 members represent state banks with less than $150 million in total assets and instead require 2 members to represent state banks in the fortieth percentile based on total asset size ( section 2 ); Extending the authority for the board and the state bank commissioner to share information regarding state bank and trust company compliance with money laundering and other financial crime laws with the United States secretary of the treasury and agencies specified ( sections 6 and 7 ); Clarifying that any change of any executive officer, director, or other person who is responsible for the management, control, or operations of a state bank or trust company must be reported to the board within 60 days after the change ( sections 4 and 10 ); Modernizing the penalty for failing to report a change of any executive officer, director, or other person who is responsible for the management, control ,or operations of a state bank or trust company to the board ( sections 5 and 10 ); Modernizing the board's authority to issue civil money penalties ( sections 8 and 11 ); Clarifying that a trust company may discontinue its trust business if it provides evidence of its release and discharge of all trust-related obligations prior to surrendering its trust charter ( section 12 ); Codifying requirements related to the review of fiduciary accounts to ensure that the assets are appropriate for the accounts as described in the trust agreement and requiring the board to adopt a rule to clarify what "appropriate" means in this context ( section 13 ); and Making technical amendments to the "Colorado Banking Code" to remove gender-specific language; replace the term "data processing center" with the more modern terms "information technology function" and "third-party service provider", as applicable; repeal requirements that certain reports must be mailed; and repeal the requirement that a charter application be filed in triplicate ( sections 14 through 40 ).(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)