reglab/housing_qa huggingface dataset:
CO Code § 11-51-309 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 3 - Registration of Securities and Exemptions|§ 11-51-309. Discretionary Exemptions

 The securities commissioner may, by rule or order and subject to such terms and conditions as prescribed therein, from time to time add any securities to the securities exempted in section 11-51-307 or add any transactions to the transactions exempted in section 11-51-308 , if the securities commissioner finds that the application of sections 11-51-301 and 11-51-305 to such securities or transactions is not necessary in the public interest and for the protection of investors.   History. Source: L. 90: Entire article R&RE, p. 719, § 1, effective July 1.    Editor's note:   This section is similar to former § 11-51-113 as it existed prior to 1990.
CO Code § 11-51-310 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 3 - Registration of Securities and Exemptions|§ 11-51-310. Denial or Revocation of Exemptions

     The securities commissioner may, by order, deny or revoke the exemption specified in section 11-51-307 (1)(g) with respect to a specific security or transaction if the securities commissioner finds that such order is necessary in the public interest and for the protection of investors.    The securities commissioner may, by summary order under section 11-51-606 (3)(b), summarily suspend the exemption specified in section 11-51-307 (1)(g) as to a specific security or issuer pending final determination of any proceeding under this subsection (1).       The securities commissioner may, by rule or order, deny or revoke any exemption specified in section 11-51-308 (1)(i), (1)(j), and (1)(p) with respect to a specific security, transaction, issuer, or class of persons if the issuer, any of its predecessors, or any of the issuer's directors, officers, general partners, beneficial owners of ten percent or more of any class of its equity securities, or any of its promoters then presently connected with the issuer in any capacity has been convicted within ten years of any felony in connection with the purchase or sale of any security. Such ten years shall be any ten years prior to any offer or sale of a security for which such exemption would otherwise be available.    No order under subsection (1) or (2) of this section may operate retroactively. No person may be considered to have violated section 11-51-301 or 11-51-305 by reason of any offer or sale effected after the entry of an order under subsection (1) or (2) of this section if that person sustains the burden of proof that the person did not know, and in the exercise of reasonable care could not have known, of the order.     History. Source: L. 90: Entire article R&RE, p. 720, § 1, effective July 1. L. 94: (1)(b) amended, p. 1839, § 3, effective July 1.    Editor's note:   This section is similar to former § 11-51-113 as it existed prior to 1990.   ANNOTATION   Law reviews. For article, “Criminal Prosecutions under the Colorado Securities Act”, see 47 U. Colo. L. Rev. 233 (1976). For article, “Securities Registration Considerations in Condominium Developments”, see 11 Colo. Law. 2795 (1982).
CO Code § 11-51-311 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 3 - Registration of Securities and Exemptions|§ 11-51-311. Coordination of Exemptions

 In furtherance of the policy stated in section 11-51-101 (3) , the exemptions under sections 11-51-307 to 11-51-309 shall be coordinated with exemptions for securities and transactions under the federal “Securities Act of 1933” so that an offering registered under the federal “Securities Act of 1933” shall be subject to registration by filing under this article in the absence of an exemption under this article and so that an offering exempt from registration under the federal “Securities Act of 1933”, other than pursuant to the exemption for intrastate offerings, shall also be exempt from registration under this article. The securities commissioner shall make, amend, and rescind rules in order to effectuate such policy. Nothing in this section shall limit the powers or actions of the securities commissioner to make, amend, and rescind rules with regard to exemptions provided by sections 11-51-307 and 11-51-308 or added by section 11-51-309 but not contained in the federal “Securities Act of 1933” or rules and regulations thereunder.   History. Source: L. 90: Entire article R&RE, p. 720, § 1, effective July 1.    Editor's note:   This section is similar to former § 11-51-113 as it existed prior to 1990.   Cross references:   For the “Securities Act of 1933”, see Pub.L. 73-22, codified at 15 U.S.C. § 77a et seq.
CO Code § 11-51-405 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 4 - Licensing and Regulation of Broker-Dealers and Sales Representatives|§ 11-51-405. Examinations and Alternate Qualifications

  In the case of a license as a broker-dealer, if the applicant is not registered as a broker-dealer under the federal “Securities Exchange Act of 1934”, the securities commissioner may by rule require the successful completion of a standardized written examination by any individual who will have primary responsibility to supervise any licensed sales representative of the broker-dealer. In the case of an application for a license as a sales representative to act for a broker-dealer who is not registered as a broker-dealer under the federal “Securities Exchange Act of 1934” or to act for an issuer, the securities commissioner may by rule require the successful completion of a standardized written examination by the applicant. Examinations may differ among classes of applicants. Any examination may be administered by the securities commissioner or any person the securities commissioner may designate.    An applicant for a license as a broker-dealer or sales representative who is a licensed real estate broker or salesperson pursuant to part 2 of article 10 of title 12 and whose securities activities in this state are limited to trading in securities comprised of notes, bonds, or other evidences of indebtedness secured by mortgages or deeds of trust upon real estate shall be excused from any examination requirement under subsection (1) of this section.    In the case of a license as an investment adviser representative, the securities commissioner may by rule require the successful completion of one or more standardized written examinations. Examinations may differ among classes of applicants. Any examination may be administered by the securities commissioner or any person the securities commissioner may designate.    The securities commissioner may by rule designate other qualifications and credentials that will be accepted in lieu of meeting the examination requirement set forth in subsection (3) of this section.     History. Source: L. 90: Entire article R&RE, p. 723, § 1, effective July 1. L. 98: (3) and (4) added, p. 553, § 8, effective January 1, 1999. L. 2003: (2) amended, p. 1989, § 24, effective May 22. L. 2019: (2) amended,(HB 19-1172), ch. 136, p. 1659, § 60, effective October 1.    Editor's note:   This section is similar to former § 11-51-106 (2.1) as it existed prior to 1990.   Cross references:   For the “Securities Exchange Act of 1934”, see Pub.L. 73-291, codified at 15 U.S.C. § 78a et seq.
CO Code § 11-51-408 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 4 - Licensing and Regulation of Broker-Dealers and Sales Representatives|§ 11-51-408. Licensing of Successor Firms

     A licensed broker-dealer or investment adviser may file an application for a license on behalf of a successor, whether or not the successor is in existence. If a broker-dealer or investment adviser succeeds to and continues the business of a licensed broker-dealer or investment adviser and the successor files an application for a license within thirty days after the succession, the license of the predecessor remains effective as the license of the successor for sixty days after the succession. An application filed pursuant to this subsection (1) must satisfy all requirements of an application under this article.    A federal covered adviser may file a notice on behalf of a successor, whether or not the successor is in existence.       If a successor is licensed or authorized to do business in this state pursuant to subsection (1) of this section, the license of each sales representative or investment adviser representative licensed to act for the predecessor shall remain effective as a license to act for the successor without a separate filing or payment of a separate fee.     History. Source: L. 90: Entire article R&RE, p. 725, § 1, effective July 1. L. 98: Entire section amended, p. 558, § 11, effective January 1, 1999.
CO Code § 11-51-409 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 4 - Licensing and Regulation of Broker-Dealers and Sales Representatives|§ 11-51-409. Access to Records

  The securities commissioner, in a manner reasonable under the circumstances, may examine, without notice, the records, within or without this state, of a licensed broker-dealer or investment adviser that are required to be made and maintained pursuant to this article in order to determine compliance with this article. A licensed broker-dealer or investment adviser may maintain such records in any form of data storage if the records are readily accessible to the securities commissioner in legible form.    The securities commissioner, in a manner reasonable under the circumstances, may copy records required to be made and maintained under this article or require a licensed broker-dealer or investment adviser, at the expense of the broker-dealer or investment adviser, to copy such records and provide copies to the securities commissioner.    The securities commissioner, in a manner reasonable under the circumstances, may examine, without notice, the records, within or without this state, of a licensed sales representative or investment adviser representative that are made and maintained by the sales representative or investment adviser representative in the normal course of business in order to determine compliance with this article.    The securities commissioner, in a manner reasonable under the circumstances, may copy records made and maintained by a licensed sales representative or investment adviser representative in the normal course of business or require a licensed sales representative or investment adviser representative, at the sales representative's or investment adviser representative's expense, to copy such records and provide copies to the securities commissioner.     History. Source: L. 90: Entire article R&RE, p. 725, § 1, effective July 1. L. 98: Entire section amended, p. 558, § 12, effective January 1, 1999.    Editor's note:   This section is similar to former § 11-51-110 as it existed prior to 1990.
CO Code § 11-51-409.5 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 4 - Licensing and Regulation of Broker-Dealers and Sales Representatives|§ 11-51-409.5. Mandatory Disclosure - Investment Advisers and Investment Adviser Representatives

  Each investment adviser and investment adviser representative of a licensed investment adviser shall furnish a written disclosure statement to each prospective client and to each client who is to receive investment advisory services. Such statement shall, at a minimum, contain the information the securities commissioner by rule requires to be furnished to clients or prospective clients by an investment adviser and an investment adviser representative. In the interests of uniformity, the requirements for disclosure of information under such rules should be coordinated and consistent with those that would be imposed under the federal “Investment Advisers Act of 1940” and the rules promulgated pursuant to that act, and with the requirements of other states, unless the securities commissioner makes the specific finding that to do so would be contrary to the public interest, the protection of investors and advisory clients in this state, and the purposes of this article.    The disclosure statement described in subsection (1) of this section shall be delivered before the client or prospective client incurs any obligation for or in connection with the investment advisory services. In addition, the investment adviser or investment adviser representative shall annually deliver or offer to deliver without charge upon written request of each client a true copy of the most recently available disclosure statement.     History. Source: L. 98: Entire section added, p. 559, § 13, effective January 1, 1999.    Cross references:   For the “Investment Advisers Act of 1940”, see Pub.L. 76-768, codified at 15 U.S.C. § 80b-1 et seq.
CO Code § 11-51-411 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 4 - Licensing and Regulation of Broker-Dealers and Sales Representatives|§ 11-51-411. Abandonment of License

 If a licensed person has died or ceased to exist as a legal entity, has been adjudicated incompetent, or cannot be located by the securities commissioner after a reasonable search, the securities commissioner may by order summarily revoke the license on the grounds that the license has been abandoned.   History. Source: L. 90: Entire article R&RE, p. 728, § 1, effective July 1.
CO Code § 11-51-412 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 4 - Licensing and Regulation of Broker-Dealers and Sales Representatives|§ 11-51-412. Withdrawal

  An application for a license may be withdrawn without prejudice by the applicant upon written notice to the securities commissioner before the license becomes effective unless a proceeding under section 11-51-410 to deny the license is pending.    Withdrawal from licensing as a broker-dealer, investment adviser, sales representative, or investment adviser representative becomes effective thirty days after receipt by the securities commissioner of an application to withdraw, or at such earlier time as the securities commissioner may allow, unless:   A proceeding under section 11-51-410 against the licensed person is pending when the application is filed or is instituted within thirty days thereafter; or    Additional information regarding the application is requested by the securities commissioner within thirty days after the application is filed.       If a proceeding is pending or instituted under subsection (2) of this section, withdrawal becomes effective at the time and upon the conditions the securities commissioner by order determines. If additional information is requested, withdrawal is effective thirty days after the additional information is received by the securities commissioner. If no proceeding is pending or instituted under subsection (2) of this section and withdrawal becomes effective, the securities commissioner may institute a proceeding under section 11-51-410 within one year after withdrawal became effective and enter an order as of the last date on which licensing was effective.    Unless another date is specified by the federal covered adviser, withdrawal of a notice filing by a federal covered adviser becomes effective upon receipt by the securities commissioner of notice from such adviser of the withdrawal.     History. Source: L. 90: Entire article R&RE, p. 728, § 1, effective July 1. L. 98: (2) amended and (4) added, p. 562, § 15, effective January 1, 1999.
CO Code § 11-51-502 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 5 - Fraud and Other Prohibited Conduct|§ 11-51-502. Misleading Filings

 It is unlawful for any person to make or cause to be made, in any document filed with the securities commissioner or in any proceeding under this article, any statement which the person knows or has reasonable grounds to know is, at the time and in the light of the circumstances under which it is made, false or misleading in any material respect.   History. Source: L. 90: Entire article R&RE, p. 729, § 1, effective July 1.    Editor's note:   This section is similar to former § 11-51-115 as it existed prior to 1990.   ANNOTATION   Law reviews. For article, “Criminal Prosecutions under the Colorado Securities Act”, see 47 U. Colo. L. Rev. 233 (1976).
CO Code § 11-51-503 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 5 - Fraud and Other Prohibited Conduct|§ 11-51-503. Unlawful Representation Concerning a License, Registration, or Exemption

  Neither the fact that an application for a license or a registration statement has been filed nor the fact that a person is licensed or a security is registered constitutes a finding by the securities commissioner that any document filed under this article is true, complete, and not misleading. No such fact, nor the fact that an exemption or exception is available for a person, security, or transaction, means that the securities commissioner has passed in any way upon the merits or qualifications of, or has recommended or given approval to, any person, security, or transaction.    It is unlawful to make, or cause to be made, to any prospective purchaser or to any existing or prospective customer or client any representation inconsistent with subsection (1) of this section.     History. Source: L. 90: Entire article R&RE, p. 729, § 1, effective July 1.    Editor's note:   This section is similar to former § 11-51-116 as it existed prior to 1990.   Cross references:   For the applicability of this section, see § 11-51-102 (1) and (2).   ANNOTATION   Law reviews. For article, “Criminal Prosecutions under the Colorado Securities Act”, see 47 U. Colo. L. Rev. 233 (1976).
CO Code § 11-51-602 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 6 - Enforcement and Civil Liability|§ 11-51-602. Enforcement by Injunction

  Whenever it appears to the securities commissioner upon sufficient evidence satisfactory to the securities commissioner that any person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this article or of any rule or order under this article, the securities commissioner may apply to the district court of the city and county of Denver to temporarily restrain or preliminarily or permanently enjoin the act or practice in question and to enforce compliance with this article or any rule or order under this article. If the action is against a broker-dealer, investment adviser, federal covered adviser, sales representative, or investment adviser representative and the court finds that such person has committed a violation of section 11-51-501, in addition to any other relief, the court may enter an order imposing such conditions on such person as the court deems appropriate. In any such action, the securities commissioner shall not be required to plead or prove irreparable injury or the inadequacy of the remedy at law. Under no circumstances shall the court require the securities commissioner to post a bond.    The securities commissioner may include in any action authorized by subsection (1) of this section, relating to any violation of section 11-51-301, 11-51-401, or 11-51-501, a claim for damages under section 11-51-604 or restitution, disgorgement, or other equitable relief on behalf of some or all of the persons injured by the act or practice constituting the subject matter of the action, if the applicable scienter standard of section 11-51-604 is met. No person shall be liable for damages or for restitution, disgorgement, or other equitable relief in any action authorized by subsection (1) of this section for a violation of section 11-51-301 due solely to a failure to file the prescribed notification of exemption or to pay the required exemption fee for an exemption under section 11-51-308 (1)(p).     History. Source: L. 90: Entire article R&RE, p. 730, § 1, effective July 1. L. 98: (1) amended, p. 563, § 17, effective January 1, 1999.    Editor's note:   This section is similar to former § 11-51-122 as it existed prior to 1990.   ANNOTATION   Law reviews. For article, “The Distinction Between a Financial Planner, Investment Advisor and Broker/Dealer”, see 15 Colo. Law. 211 (1986).   This section does not create a fiduciary relationship between the commissioner and defrauded investors. Feigin v. Alexa Group, Ltd., 19 P.3d 23 (Colo. 2001).   Defrauded investors are not entitled to intervention as a matter of right in an action under this section. Where investors possessed a private right of action under § 11-51-604 that was not affected by res judicata, collateral estoppel, or stare decisis, their interests would be neither impaired nor impeded for purposes of C.R.C.P. 24(a)(2). Feigin v. Alexa Group, Ltd., 19 P.3d 23 (Colo. 2001).
CO Code § 11-51-603.5 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 6 - Enforcement and Civil Liability|§ 11-51-603.5. Concurrent Enforcement by Attorney General - Legislative Declaration

  To facilitate the attorney general's enforcement of criminal violations under this article as contemplated by section 11-51-603 (3), the general assembly finds that the investigation of criminal violations under this article is the primary responsibility of the attorney general, concurrently with the district attorneys of this state.    For the purpose of providing adequate funding to the department of law for the investigation and prosecution of allegations of securities fraud, a portion of the fees collected under this article shall be allocated to the department of law for the investigation and prosecution of criminal violations under this article.     History. Source: L. 2005: Entire section added, p. 802, § 1, effective June 1.
CO Code § 11-51-605 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 6 - Enforcement and Civil Liability|§ 11-51-605. Burden of Proof

 In any proceeding under this article, the burden of proving an exemption or an exception from a definition is upon the person claiming it.   History. Source: L. 90: Entire article R&RE, p. 733, § 1, effective July 1.    Editor's note:   This section is similar to former § 11-51-113 (5) as it existed prior to 1990.
CO Code § 11-51-607 (2021)
2021 Colorado Code|Title 11 - Financial Institutions|Article 51 - Securities|Part 6 - Enforcement and Civil Liability|§ 11-51-607. Judicial Review of Orders

  Any person aggrieved by a final order of the securities commissioner may obtain a review of the order in the court of appeals pursuant to the provisions of section 24-4-106 (11), C.R.S.    The commencement of proceedings under subsection (1) of this section does not, unless specifically ordered by the court, operate as a stay of the securities commissioner's order.     History. Source: L. 90: Entire article R&RE, p. 734, § 1, effective July 1. L. 94: (1) amended, p. 1844, § 8, effective July 1.    Editor's note:   This section is similar to former § 11-51-120 as it existed prior to 1990.   ANNOTATION   Annotator's note. The following annotations include cases decided under former provisions similar to this section.   Scope of review. On review, if the findings of fact are supported by competent material and substantial evidence, they are conclusive; if not, they are arbitrary and capricious and amount to an abuse of discretion. Raymond Lee Org., Inc. v. Sec. Comm'n, 36 Colo. App. 417, 543 P.2d 75 (1975), rev'd on other grounds, 192 Colo. 112 , 556 P.2d 1209 (1976).   Applied in Raymond Lee Org., Inc. v. Div. of Sec., 192 Colo. 112 , 556 P.2d 1209 (1976).