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