C.R.S. Section 11-51-401
Licensing and notice filing requirements


(1)

A person shall not transact business in this state as a broker-dealer or sales representative unless licensed or exempt from licensing under section 11-51-402.

(1.5)

A person with a place of business in this state shall not transact business in this state as an investment adviser or investment adviser representative unless such person is licensed as such or exempt from licensing under section 11-51-402.

(1.6)

A federal covered adviser either with a place of business in this state or who employs or otherwise engages an individual with a place of business in this state to act as an investment adviser representative shall not transact business in this state as a federal covered adviser unless such adviser has filed with the securities commissioner the notice and fee required in sections 11-51-403 and 11-51-404.

(2)

Neither a broker-dealer nor an issuer shall employ or otherwise engage an individual to act as a sales representative in this state unless the sales representative is licensed or exempt from licensing under section 11-51-402.

(2.5)

An investment adviser shall not employ or otherwise engage any individual with a place of business in this state to act as an investment adviser representative in this state unless such individual is licensed in accordance with section 11-51-403 or is exempt from licensing under section 11-51-402 (1).

(3)

No broker-dealer, investment adviser, or issuer shall employ or otherwise engage a person to participate in any activity in this state contrary to an order by the securities commissioner applicable to that person under section 11-51-410. A broker-dealer, investment adviser, or issuer does not violate this subsection (3) if the broker-dealer, investment adviser, or issuer sustains the burden of proof that it did not know and in the exercise of reasonable care could not have known of the order. Upon request from a broker-dealer, investment adviser, or issuer and for good cause shown, the securities commissioner may waive the prohibition of this subsection (3) with respect to a person subject to an order under section 11-51-410.

(4)

No person shall act as an investment adviser for a local government investment pool trust fund under article 75 of title 24, C.R.S., unless the person has first notified the securities commissioner by filing the form prescribed by the securities commissioner.

Source: Section 11-51-401 — Licensing and notice filing requirements, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-11.­pdf (accessed Oct. 20, 2023).

11‑51‑101
Short title and purpose
11‑51‑102
Scope of article
11‑51‑201
Definitions
11‑51‑201.5
Investment adviser registration depository - definition
11‑51‑202
References to federal statutes
11‑51‑301
Requirement for registration of securities
11‑51‑302
General registration provisions
11‑51‑303
Registration by coordination
11‑51‑304
Registration by qualification
11‑51‑304.5
Notice filing - investment companies
11‑51‑305
Filing of sales literature
11‑51‑306
Denial, suspension, or revocation of registration
11‑51‑307
Exempt securities
11‑51‑308
Exempt transactions
11‑51‑308.5
Crowdfunding - intrastate offering of securities - online intermediaries - rules - fees - short title - legislative declaration
11‑51‑308.7
Colorado digital token act - legislative declaration - exemptions - definitions - rules
11‑51‑309
Discretionary exemptions
11‑51‑310
Denial or revocation of exemptions
11‑51‑311
Coordination of exemptions
11‑51‑401
Licensing and notice filing requirements
11‑51‑402
Exempt broker-dealers, sales representatives - sanctions - exempt investment advisers and investment adviser representatives
11‑51‑403
Application for license - notice filing requirements
11‑51‑404
License and notice fees
11‑51‑405
Examinations and alternate qualifications
11‑51‑406
General provisions
11‑51‑407
Operating requirements
11‑51‑408
Licensing of successor firms
11‑51‑409
Access to records
11‑51‑409.5
Mandatory disclosure - investment advisers and investment adviser representatives
11‑51‑410
Denial, suspension, or revocation
11‑51‑411
Abandonment of license
11‑51‑412
Withdrawal
11‑51‑501
Fraud and other prohibited conduct
11‑51‑502
Misleading filings
11‑51‑503
Unlawful representation concerning a license, registration, or exemption
11‑51‑601
Investigations - subpoenas
11‑51‑602
Enforcement by injunction
11‑51‑603
Criminal penalties
11‑51‑603.5
Concurrent enforcement by attorney general - legislative declaration
11‑51‑604
Civil liabilities
11‑51‑605
Burden of proof
11‑51‑606
Conduct of proceedings - cease-and-desist orders - consent orders - summary orders - issued by securities commissioner - rules
11‑51‑607
Judicial review of orders
11‑51‑701
Division of securities - creation - powers and duties
11‑51‑702.5
Securities board - creation - duties - repeal
11‑51‑703
Administration of article
11‑51‑704
Rules, forms, and orders
11‑51‑705
Interpretive opinions
11‑51‑706
Consent to service of process
11‑51‑707
Collection of fees - division of securities cash fund created
11‑51‑708
Administrative files
11‑51‑801
Effective date of article
11‑51‑802
Savings provisions
11‑51‑803
Repeal of article
11‑51‑901
Short title
11‑51‑902
General powers of securities commissioner
11‑51‑903
Interests in local government investment pool trust fund
11‑51‑904
Requirement for registration of local government investment pools
11‑51‑905
General registration requirements
11‑51‑906
Reports to securities commissioner
11‑51‑907
Access to records
11‑51‑908
Confidentiality of information
11‑51‑1001
Short title
11‑51‑1002
Definitions
11‑51‑1003
Governmental disclosures - immunity
11‑51‑1004
Third-party disclosures - immunity
11‑51‑1005
Delaying disbursements - immunity
11‑51‑1006
Immunity for nondisclosure
11‑51‑1007
Records
11‑51‑1008
Multiple duties to report
Green check means up to date. Up to date

Current through Fall 2024

§ 11-51-401’s source at colorado​.gov