reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 7 - ADMINISTRATION AND FEES (§§ 11-51-701 — 11-51-708) › Section 11-51-701 - Division of securities - creation - powers and duties

There is created the division of securities in the department of regulatory agencies, the head of which is the commissioner of securities, who shall be appointed by the executive director of the department of regulatory agencies, pursuant to section 13 of article XII of the state constitution, and the securities board. The division of securities and the office of commissioner of securities are
type 1
entities, as defined in section
24-1-105
. The division is responsible for the administration of the provisions of articles
51
,
53
, and
59
of this title 11 and part 7 of article
75
of title
24
, and shall perform such other duties as are imposed upon it by law.
Amended by 2022 Ch. 469, §106, eff. 8/10/2022.
L. 90: Entire article R&RE, p. 734, § 1, effective July 1. L. 91: Entire section amended, p. 2425, § 3, effective June 8. L. 93: Entire section amended, p. 327, § 3, effective July 1. L. 94: Entire section amended, p. 1845, § 9, effective July 1.
This section is similar to former § 11-51-103 as it existed prior to 1990.
2022 Ch. 469, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 7 - ADMINISTRATION AND FEES (§§ 11-51-701 — 11-51-708) › Section 11-51-702 - [Repealed]

L. 90: Entire article R&RE, p. 734, § 1, effective July 1. L. 91: Entire section repealed, p. 678, § 7, effective April 20.
Prior to its repeal, this section was similar to former § 11-51-104 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 7 - ADMINISTRATION AND FEES (§§ 11-51-701 — 11-51-708) › Section 11-51-703 - Administration of article

(1)
The securities commissioner is hereby empowered to administer and enforce all provisions of this article and to provide the division of securities with such books, records, files, and printing and other supplies and employ such officers and clerical and other assistance as may be necessary in the securities commissioner's discretion to perform the duties required of the securities commissioner under this article.
(2)
It is unlawful for the securities commissioner or any of the officers or employees of the division of securities to use for personal benefit any information which is filed with or obtained by the securities commissioner and which is not made public. No provision of this article authorizes the securities commissioner or any of such officers or employees to disclose any such information except among themselves or when necessary or appropriate in a proceeding or investigation under this article. No provision of this article either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the securities commissioner or any of the officers or employees of the division of securities.
(3)
The securities commissioner may enter into an arrangement, agreement, or other working relationship with federal, other state, and self-regulatory authorities whereby public documents may be initially filed and maintained in the central registration depository, the investment adviser registration depository, or with other agencies or authorities. It is the intent of this subsection (3) that the securities commissioner be provided with the power to reduce the duplication of filings, reduce administrative costs, and, in conjunction with other states and with federal authorities, establish uniform procedures, forms, and administration to be used by this state and by such other states and by such federal authorities.
(4)
The securities commissioner may delegate to any officer of the division of securities any power, duty, authority, or function created by this article and vested in the securities commissioner, but nothing in this subsection (4) shall authorize the securities commissioner to delegate to any officer the securities commissioner's authority to make rules, institute proceedings or actions under section
11-51-306
,
11-51-410
, or
11-51-602
, refer evidence under section
11-51-603(3)
, or exercise the authority created by this section, section
11-51-704(1) or (2)
, or section
11-51-707(3)(a) or (3)(b)
.
L. 90: Entire article R&RE, p. 734, § 1, effective July 1. L. 2001: (3) amended, p. 16, § 3, effective March 9.
This section is similar to former § 11-51-117 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 7 - ADMINISTRATION AND FEES (§§ 11-51-701 — 11-51-708) › Section 11-51-704 - Rules, forms, and orders

(1)
The securities commissioner may, from time to time, make, amend, and rescind such rules, forms, and orders as are necessary to carry out the provisions of this article, including rules and forms governing registration statements, applications, and reports, and defining any terms, whether or not used in this article, insofar as the definitions are not inconsistent with the provisions of this article. For the purpose of rules and forms, the securities commissioner may classify securities, persons, and matters within the securities commissioner's jurisdiction and prescribe different requirements for different classes.
(2)
No rule, form, or order may be made, amended, or rescinded unless the securities commissioner finds that the action is necessary or appropriate in the public interest and is consistent with the purposes and provisions of this article. In prescribing rules and forms, the securities commissioner may cooperate with the securities and exchange commission with a view to effectuating the policy of this article to achieve maximum uniformity in the form and content of registration statements, applications, and reports wherever practicable.
(3)
The securities commissioner may, by rule or order, prescribe the form and content of financial statements required under this article, the circumstances under which consolidated financial statements shall be filed, and whether any required financial statements shall be certified by independent or certified public accountants. Unless the securities commissioner by rule or order provides otherwise, a financial statement required under this article must be prepared in accordance with generally accepted accounting principles or other accounting principles as are prescribed for the issuer of the financial statement by the securities and exchange commission.
(4)
No provision of this article imposing any liability upon a person or providing a basis for any sanction against a person applies to any act done or omitted in good faith and in conformity with any rule, form, or order of the securities commissioner, notwithstanding that the rule, form, or order may later be amended or rescinded or be determined by any judicial or other authority to be invalid for any reason.
L. 90: Entire article R&RE, p. 735, § 1, effective July 1.
This section is similar to former § 11-51-118 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 7 - ADMINISTRATION AND FEES (§§ 11-51-701 — 11-51-708) › Section 11-51-705 - Interpretive opinions

The securities commissioner may honor requests from interested persons for confirmation of the applicability of particular exemptions from securities registration under sections
11-51-307
to
11-51-309
or for other interpretive opinions regarding any provision of this article. Any person making such a request shall pay an opinion fee, which shall be determined and collected pursuant to section
11-51-707
and which shall not be refundable. In response to any request for a confirmation or other interpretive opinion received under this section, the securities commissioner may waive any condition imposed under this article as it applies to the person making such request.
L. 90: Entire article R&RE, p. 736, § 1, effective July 1.
This section is similar to former § 11-51-126 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 7 - ADMINISTRATION AND FEES (§§ 11-51-701 — 11-51-708) › Section 11-51-706 - Consent to service of process

(1)
An applicant for licensing under this article, a person filing a registration statement under this article, and an issuer who proposes to offer in this state through an agent a security registered under this article shall file with the securities commissioner, in such form as the securities commissioner by rule prescribes, an irrevocable consent appointing the securities commissioner or the successor in office of the securities commissioner to be the attorney for said person to receive service of any lawful process in any noncriminal suit, action, or proceeding against such person, or the successor, executor, or administrator of such person, arising under this article or any rule or order under this article after the consent has been filed with the same force and validity as if served personally on the person filing the consent.
(2)
A person who has filed a consent in compliance with subsection (1) of this section in connection with a previous application for licensing or registration need not file an additional consent, but the securities commissioner may request, and in response to such request such person shall provide, verification of such previous consent.
(3)
Service upon any person who has filed a consent pursuant to subsection (1) of this section may be made by leaving a copy of the process in the office of the securities commissioner, but it is not effective unless the plaintiff, who may be the securities commissioner in a suit, action, or proceeding instituted by the securities commissioner, forthwith sends a notice of the service and a copy of the process by registered mail to the defendant or respondent at the last address on file with the securities commissioner and unless the plaintiff's affidavit of compliance with this subsection (3) is filed in the case on or before the return day of the process, if any, or within such further time as the court allows.
(4)
The methods of service of process provided for in this section are in addition to other methods of service of process provided for by law, including section
13-1-124
, C.R.S. Any violation of this article shall be deemed to constitute the transaction of business within this state for the purpose of section
13-1-124
, C.R.S.
L. 90: Entire article R&RE, p. 736, § 1, effective July 1.
This section is similar to former § 11-51-127 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 7 - ADMINISTRATION AND FEES (§§ 11-51-701 — 11-51-708) › Section 11-51-708 - Administrative files

(1)
A document is filed when it is received by the securities commissioner.
(2)
The securities commissioner shall keep a register of all applications for licenses and registration statements which are or have ever been effective under this article and all orders which have been entered under this article. The register shall be open for public inspection.
(3)
The information contained in or filed with any registration statement, application, or report may be made available to the public under article
72
of title
24
, C.R.S.
(4)
Upon request and at such reasonable charges as the securities commissioner prescribes, the securities commissioner shall furnish to any person photostatic or other copies of any entry in the register or any document which is a matter of public record and may certify their authenticity; and the securities commissioner may also provide certification of the absence of any entry in the register or the absence of any document or other record from division files which are of public record. In any action, proceeding, or prosecution under this article, any copy so certified, and any certification by the securities commissioner as to the absence of any such entry, document, or record from division files, are prima facie evidence of the contents of the entry, document, or record so certified or of the absence of the entry, document, or record which is the subject of such certification.
L. 90: Entire article R&RE, p. 738, § 1, effective July 1.
This section is similar to former § 11-51-126 as it existed prior to 1990.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 8 - EFFECTIVE DATE - REPEAL OF ARTICLE (§§ 11-51-801 — 11-51-803) › Section 11-51-801 - Effective date of article

This article shall be effective on and after July 1, 1990, subject to the provisions of section
11-51-802
.
L. 90: Entire article R&RE, p. 738, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 8 - EFFECTIVE DATE - REPEAL OF ARTICLE (§§ 11-51-801 — 11-51-803) › Section 11-51-803 - Repeal of article

(1)
This article is repealed, effective September 1, 2026.
(2)
Prior to such repeal, the division of securities shall be reviewed as provided for in section
24-34-104
, C.R.S.
Amended by 2015 Ch. 177, §7, eff. 5/11/2015.
L. 90: Entire article R&RE, p. 740, § 1, effective July 1. L. 91: Entire section amended, p. 678, §8, effective April 20. L. 94: (1) amended, p. 1847, § 12, effective July 1. L. 2004: (1) amended, p. 520, § 7, effective July 1. L. 2015: (1) amended, (SB 15-104), ch. 177, p. 578, § 7, effective May 11.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 9 - LOCAL GOVERNMENT INVESTMENT POOL TRUST FUND ADMINISTRATION AND ENFORCEMENT ACT (§§ 11-51-901 — 11-51-908) › Section 11-51-901 - Short title

This part 9 shall be known and may be cited as the "Local Government Investment Pool Trust Fund Administration and Enforcement Act".
L. 93: Entire part added, p. 327, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 9 - LOCAL GOVERNMENT INVESTMENT POOL TRUST FUND ADMINISTRATION AND ENFORCEMENT ACT (§§ 11-51-901 — 11-51-908) › Section 11-51-902 - General powers of securities commissioner

The securities commissioner is hereby empowered to administer and enforce the provisions of part 7 of article
75
of title
24
, C.R.S., and all the provisions of this part 9.
L. 93: Entire part added, p. 327, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 9 - LOCAL GOVERNMENT INVESTMENT POOL TRUST FUND ADMINISTRATION AND ENFORCEMENT ACT (§§ 11-51-901 — 11-51-908) › Section 11-51-903 - Interests in local government investment pool trust fund

(1)
For the purposes of this part 9, unless the context otherwise requires:
(a)
The interest of a participating local government in a local government investment pool trust fund is a "security", as defined by section
11-51-201(17)
; and
(b)
The solicitation of a local government to participate in a local government investment pool trust fund constitutes an "offer" to sell a security, as defined by section
11-51-201(13)(c)
, by the trust fund to the local government, and the consummation of an agreement to participate in a local government investment pool trust fund constitutes a "sale" of a security, as defined by section
11-51-201(13)(a)
, by the trust fund to the local government.
L. 93: Entire part added, p. 327, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 9 - LOCAL GOVERNMENT INVESTMENT POOL TRUST FUND ADMINISTRATION AND ENFORCEMENT ACT (§§ 11-51-901 — 11-51-908) › Section 11-51-904 - Requirement for registration of local government investment pools

(1)
It is unlawful for the board of trustees of any local government investment pool trust fund to permit the investment of trust fund assets unless the trust fund is registered with the securities commissioner under this part 9.
(2)
It is unlawful for a local government to participate in a local government investment pool trust fund unless the trust fund is registered with the securities commissioner under this part 9.
L. 93: Entire part added, p. 328, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 9 - LOCAL GOVERNMENT INVESTMENT POOL TRUST FUND ADMINISTRATION AND ENFORCEMENT ACT (§§ 11-51-901 — 11-51-908) › Section 11-51-905 - General registration requirements

(1)
A local government investment pool trust fund shall register with the securities commissioner under this part 9 by filing a notice, in such form as prescribed by the securities commissioner, and a copy of the resolution adopted pursuant to section
24-75-703
, C.R.S.
(2)
Any local government investment pool trust fund organized pursuant to the provisions of part 7 of article
75
of title
24
, C.R.S., as it existed prior to July 1, 1993, shall register with the securities commissioner under this part 9 by filing a notice, in such form as prescribed by the securities commissioner, and the resolution adopted pursuant to the provisions of part 7 of article
75
of title
24
, C.R.S., as it existed prior to July 1, 1993, no later than thirty days after July 1, 1993.
(3)
The information to be provided to the securities commissioner by a local government investment pool trust fund in the notice for registration shall include, but need not be limited to:
(a)
The name and address of the trust fund;
(b)
The name and address of the administrator of the trust fund;
(c)
The name and address of each of the custodians of the assets of the trust fund;
(d)
The name and address of each of the investment advisers of the trust fund and each of the financial institutions acting in an advisory capacity for the trust fund;
(e)
Identification of each participating local government in the trust fund; and
(f)
The total assets of the trust fund as of the date of filing.
(4)
Every filing of the notice and resolution required under this section shall be accompanied by a fee, which shall be determined and collected pursuant to section
11-51-707
; except that no such registration fee shall be more than five thousand dollars.
L. 93: Entire part added, p. 328, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 9 - LOCAL GOVERNMENT INVESTMENT POOL TRUST FUND ADMINISTRATION AND ENFORCEMENT ACT (§§ 11-51-901 — 11-51-908) › Section 11-51-907 - Access to records

(1)
The securities commissioner, in a manner reasonable under the circumstances, may examine, without notice, any accounts held by a custodian on behalf of a local government investment pool trust fund and all books, records, and papers pertaining thereto, and all accounts, books, records, and papers pertaining thereto, within or without this state, in the possession of any administrator, the board of trustees, any investment adviser of or broker-dealer or financial institution acting in an advisory capacity to the trust fund, any person employed by or directly associated with such broker-dealer or financial institution in connection with providing such advisory services, or any investment adviser representative.
(2)
The securities commissioner, in a manner reasonable under the circumstances, may copy, or cause to be copied, or request from and shall receive copies of such documents as are made and maintained by the custodians, administrator, board of trustees, investment adviser of or broker-dealer or financial institution acting in advisory capacity to the trust fund, any person employed by or directly associated with such broker-dealer or financial institution in connection with providing such advisory services, or any investment advisor representative in connection with a local government investment pool trust fund in the normal course of business, at the expense of such person, in order to determine compliance with this part 9 and part 7 of article
75
of title
24
, C.R.S., as amended.
L. 93: Entire part added, p. 330, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 9 - LOCAL GOVERNMENT INVESTMENT POOL TRUST FUND ADMINISTRATION AND ENFORCEMENT ACT (§§ 11-51-901 — 11-51-908) › Section 11-51-908 - Confidentiality of information

Financial information and the identities of participating local governments in the possession of, filed with, or obtained by the securities commissioner under this part 9 shall be confidential. No such information may be disclosed by the securities commissioner or any of the officers or employees of the division of securities except in connection with any investigation or proceeding or with the consent of the board of trustees of the local government investment pool trust fund to which such information pertains. Such information shall be construed as information within the meaning of section
24-72-204(3)(a)(IV)
, C.R.S.
L. 93: Entire part added, p. 331, § 4, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1001 - Short title

The short title of this part 10 is the "Protection of Vulnerable Adults from Financial Exploitation Act".
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1604, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1002 - Definitions

As used in this part 10, unless the context otherwise requires:
(1)
"Broker-dealer" has the same meaning as in section
11-51-201(2)
.
(2)
"Eligible adult" means:
(a)
A person seventy years of age or older; or
(b)
An individual eighteen years of age or older who is susceptible to mistreatment or self-neglect because the individual is unable to perform or obtain services necessary for his or her health, safety, or welfare, or lacks sufficient understanding or capacity to make or communicate responsible decisions concerning his or her person or affairs.
(3)
"Financial exploitation" means an act or omission committed by a person who:
(a)
Uses deception, harassment, intimidation, or undue influence to permanently or temporarily deprive an eligible adult of the use, benefit, or possession of any thing of value;
(b)
Employs the services of a third party for the profit or advantage of the person or another person to the detriment of the eligible adult;
(c)
Forces, compels, coerces, or entices an eligible adult to perform services for the profit or advantage of the person or another person against the will of the eligible adult; or
(d)
Misuses the property of an eligible adult in a manner that adversely affects the eligible adult's ability to receive health care or health-care benefits or to pay bills for basic needs or obligations.
(4)
"Investment adviser" has the same meaning as in section
11-51-201
(9.5).
(5)
"Investment adviser representative" has the same meaning as in section
11-51-201
(9.6).
(6)
"Qualified individual" means any sales representative, investment adviser representative, or person who serves in a supervisory, compliance, or senior investor protection capacity for a broker-dealer or investment adviser.
(7)
"Sales representative" has the same meaning as in section
11-51-201(14)
.
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1604, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1003 - Governmental disclosures - immunity

(1)
If a qualified individual, while acting within the scope of employment, reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or may be or is being attempted, the broker-dealer or investment adviser shall promptly notify the commissioner of securities appointed pursuant to section
11-51-701
. The securities commissioner shall forward a copy of the report within one business day to local law enforcement and to the county department of human or social services handling adult protective services.
(2)
A qualified individual who, in good faith and exercising reasonable care, makes a disclosure of information pursuant to this section is immune from administrative or civil liability that might otherwise arise from the disclosure or for any failure to notify the customer of the disclosure.
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1605, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1004 - Third-party disclosures - immunity

(1)
If a qualified individual, while acting within the scope of employment, reasonably believes that financial exploitation of an eligible adult may have occurred, been attempted, or may be or is being attempted, a qualified individual may notify any third party previously designated by or reasonably associated with the eligible adult. Disclosure may not be made to any designated third party that is suspected of financial exploitation or other abuse of the eligible adult.
(2)
Notwithstanding the provisions of subsection (1) of this section, if the qualified individual is also a person listed in section
18-6.5-108(1)(b)
and the qualified individual has made a report to law enforcement as required by section
18-6.5-108(1)
, the report required by subsection (1) of this section does not have to be filed with the commissioner.
(3)
A qualified individual who, in good faith and exercising reasonable care, complies with this section is immune from any administrative or civil liability that might otherwise arise from the disclosure.
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1605, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1005 - Delaying disbursements - immunity

(1)
A broker-dealer or investment adviser may delay a disbursement from an account of an eligible adult, or an account on which an eligible adult is a beneficiary, if:
(a)
The broker-dealer or investment adviser, reasonably believes, after initiating an internal review of the requested disbursement and the suspected financial exploitation, that the requested disbursement may result in financial exploitation of an eligible adult; and
(b)
The broker-dealer or investment adviser:
(I)
Immediately, but in no event more than two business days after the requested disbursement, provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account, unless any such party is reasonably believed to have engaged in suspected or attempted financial exploitation of the eligible adult;
(II)
Immediately, but in no event more than two business days after the requested disbursement, notifies the reporting agencies; and
(III)
Continues its internal review of the suspected or attempted financial exploitation of the eligible adult, as necessary, and reports the review's results to the commissioner within seven business days after the requested disbursement.
(2)
Any delay of a disbursement as authorized by this section expires upon the sooner of:
(a)
A determination by the broker-dealer or investment adviser that the disbursement will not result in financial exploitation of the eligible adult; or
(b)
Fifteen business days after the date on which the broker-dealer or investment adviser first delayed disbursement of the funds, unless the commissioner requests that the broker-dealer or investment adviser extend the delay. If a delay is requested, the delay expires no more than twenty-five business days after the date on which the broker-dealer or investment adviser first delayed disbursement of the funds unless sooner terminated or extended by the commissioner or an order of a court of competent jurisdiction.
(3)
A court of competent jurisdiction may also enter an order extending the delay of the disbursement of funds or may order other protective relief based on the petition of the commissioner of securities, protective services for eligible adults, the broker-dealer or investment adviser that initiated the delay under this section, or other interested party.
(4)
A broker-dealer or investment adviser who, in good faith and exercising reasonable care, complies with this section is immune from any administrative or civil liability that might otherwise arise from the delay in a disbursement in accordance with this section.
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1606, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1006 - Immunity for nondisclosure

A qualified individual who, in good faith and exercising reasonable care, fails to report pursuant to this part 10 is immune from any administrative, criminal, or civil liability for his or her failure to report.
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1607, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1007 - Records

A broker-dealer or investment adviser shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an eligible adult to agencies charged with administering state adult protective services laws and to law enforcement, either as part of a referral to the agency or to law enforcement, or upon request of the agency or law enforcement pursuant to an investigation. The records may include historical records as well as records relating to the most recent transaction or transactions that may comprise financial exploitation of an eligible adult. All records made available to agencies under this section are not public records as defined in part 2 of article
72
of title
24
. Nothing in this section limits or otherwise impedes the authority of the state securities commissioner to access or examine the books and records of broker-dealers and investment advisers as otherwise provided by law.
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1607, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51 - SECURITIES (§§ 11-51-101 — 11-51-1008) › Part 10 - PROTECT VULNERABLE ADULTS FROM FINANCIAL EXPLOITATION ACT (§§ 11-51-1001 — 11-51-1008) › Section 11-51-1008 - Multiple duties to report

Compliance with this part 10 does not discharge the duty of a mandatory reporter under section
18-6.5-108
to report mistreatment to a local law enforcement agency.
Added by 2017 Ch. 289,§ 2, eff. 7/1/2017.
L. 2017: Entire part added, (HB 17-1253), ch. 289, p. 1607, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 51.5 - [Repealed] (§ 11-51.5-101) › Section 11-51.5-101 - to 11-51.5-108 - [Repealed]

L. 84: Entire article repealed, p. 398, § 8, effective July 1.
This article was added in 1975.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 52 - [Repealed] (§ 11-52-101) › Section 11-52-101 - and 11-52-102 - [Repealed]

L. 90: Entire article repealed, p. 741, § 8, effective July 1.
This article was numbered as article 4 of chapter 125, C.R.S. 1963.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-101 - Short title

This article shall be known and may be cited as the "Colorado Commodity Code".
L. 89: Entire article R&RE, p. 629, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-103 - Unlawful commodity transactions

Except as otherwise provided in section
11-53-104
or
11-53-105
, no person shall sell or purchase or offer to sell or purchase any commodity under any commodity contract or under any commodity option or offer to enter into or enter into as seller or purchaser any commodity contract or any commodity option.
L. 89: Entire article R&RE, p. 631, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-104 - Exempt person transactions

(1)
The prohibitions in section
11-53-103
shall not apply to any transaction offered by and in which any of the following persons (or any employee, officer, or director thereof acting solely in that capacity) is the purchaser or seller:
(a)
A person registered with the commodity futures trading commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration;
(b)
A person registered with the securities and exchange commission as a broker-dealer whose activities require such registration;
(c)
A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by, a person referred to in paragraph (a) or (b) of this subsection (1);
(d)
A person who is a member of a contract market designated by the commodity futures trading commission (or any clearinghouse thereof);
(e)
A financial institution; or
(f)
A person registered under the laws of this state as a securities broker or dealer whose activities require such registration.
(2)
The exemption provided by subsection (1) of this section shall not apply to any transaction or activity which is prohibited by the commodity exchange act or CFTC rule.
L. 89: Entire article R&RE, p. 632, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-106 - Unlawful commodity activities

(1)
No person shall engage in a trade or business of or otherwise act as a commodity merchant unless such person is either:
(a)
Registered or temporarily licensed with the commodity futures trading commission for each activity constituting such person as a commodity merchant, and such registration or temporary license has not expired or been suspended or revoked; or
(b)
Exempt from such registration by virtue of the commodity exchange act or a CFTC rule.
(2)
No board of trade shall trade, or provide a place for the trading of, any commodity contract or commodity option required to be traded on or subject to the rules of a contract market designated by the commodity futures trading commission unless such board of trade has been so designated for such commodity contract or commodity option and such designation has not been vacated, suspended, or revoked.
L. 89: Entire article R&RE, p. 635, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-107 - Fraudulent conduct

(1)
No person shall, directly or indirectly, in or in connection with the purchase or sale of, the offer to sell, the offer to purchase, the offer to enter into, or the entry into of any commodity contract or commodity option prohibited by section
11-53-103
or made pursuant to section
11-53-104
or
11-53-105(1)(b) or (1)(d)
:
(a)
Cheat or defraud, or attempt to cheat or defraud, any other person or employ any device, scheme, or artifice to defraud any other person;
(b)
Make any false report, enter any false record, or make any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which they were made, not misleading;
(c)
Engage in any transaction, act, practice, or course of business, including, without limitation, any form of advertising or solicitation, which operates or would operate as a fraud or deceit upon any person; or
(d)
Misappropriate or convert the funds, security, or property of any other person.
L. 89: Entire article R&RE, p. 636, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-108 - Misleading filings

It is unlawful for any person to make or cause to be made, in any document filed with the commissioner or in any proceeding under this article, any statement which is, at the time and in the light of the circumstances under which it was made, false or misleading in any material respect.
L. 89: Entire article R&RE, p. 636, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-109 - Liability of principals, controlling persons, and others

(1)
The act, omission, or failure of any official, agent, or other person acting for any individual, association, partnership, corporation, or trust within the scope of his employment or office shall be deemed the act, omission, or failure of such individual, association, partnership, corporation, or trust, as well as of such official, agent, or other person.
(2)
Every person who directly or indirectly controls another person liable under any provision of this article, every partner, officer, or director of such liable person, every person occupying a similar status or performing similar functions to such liable person, and every employee of such liable person who materially aids in the violation is also liable jointly and severally with and to the same extent as the person liable under the provisions of this article unless the person who is also liable by virtue of this subsection (2) sustains the burden of proof that the person did not know, and in exercise of reasonable care could not have known, of the existence of the facts by reason of which the liability is alleged to exist.
L. 89: Entire article R&RE, p. 636, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-110 - Securities law unaffected

Nothing in this article shall impair, derogate, or otherwise affect the authority or powers of the commissioner under article
51
of this title or the application of any provision thereof to any person or transaction subject thereto.
L. 89: Entire article R&RE, p. 636, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 1 - REGULATION OF COMMODITY SALES - UNLAWFUL ACTIVITIES (§§ 11-53-101 — 11-53-111) › Section 11-53-111 - Purpose

This article shall be construed and implemented to effectuate its general purpose to protect investors, to prevent and prosecute illegal and fraudulent schemes involving commodity contracts and commodity options, and to maximize coordination with federal law and other states' laws and the administration and enforcement thereof. This article is not intended to create, abolish, or modify any rights or remedies upon which actions may be brought by private persons against persons who violate the provisions of this article.
L. 89: Entire article R&RE, p. 637, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › SECURITIES (§§ 11-50-101 — 11-54-119) › SECURITIES (§§ 11-51-101 — 11-54-119) › Article 53 - COLORADO COMMODITY CODE (§§ 11-53-101 — 11-53-211) › Part 2 - ENFORCEMENT OF COMMODITY CODE - PENALTIES (§§ 11-53-201 — 11-53-211) › Section 11-53-201 - Investigations - subpoenas

(1)
The commissioner in his discretion may make such public or private investigations within or outside of this state as the commissioner deems necessary to determine whether any person has violated any provision of this article or any rule or order under this article or to aid in the enforcement of this article, or, in the prescribing of rules and forms under this article, the commissioner may require or permit any person to file a statement as to all the facts and circumstances concerning the matter to be investigated and may publish information concerning any proceeding brought under this article or any rule or order issued under this article.
(2)
For purpose of any investigation or proceeding under this article, the commissioner or any officer designated by the commissioner may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the commissioner finds to be relevant or material to the inquiry.
(3)
In case of contumacy by, or refusal to obey a subpoena issued to, any person, the district court of the city and county of Denver, upon application by the commissioner, may issue to such person an order requiring the person to appear before the commissioner, or the officer designated by him, to produce documentary evidence if so ordered or to give evidence touching the matter under investigation or in question. Failure to obey the order of the court may be punished by the court as a contempt of court.
(4)
No person is excused from attending and testifying or from producing any document or record before the commissioner, or in obedience to the subpoena of the commissioner or any officer designated by the commissioner, or in any proceeding instituted by the commissioner on the ground that the testimony or evidence, documentary or otherwise, required of the person subpoenaed may tend to incriminate said person or subject the person to a penalty or forfeiture; but no document, evidence, or other information compelled under order of the district court of the city and county of Denver, or any information directly or indirectly derived from such document, evidence, or other information, may be used against an individual so compelled in any criminal case; except that the individual testifying is not exempt from prosecution and punishment for perjury in the first or second degree or contempt committed in testifying.
L. 89: Entire article R&RE, p. 637, § 1, effective July 1.