C.R.S. Section 24-75-701
Definitions


As used in this part 7, unless the context otherwise requires:

(1)

“Administrator” means the administrator of a local government investment pool trust fund created pursuant to section 24-75-703.

(2)

“Board” or “board of trustees” means the board of trustees composed of members that are selected from among the treasurers or other local officials empowered to invest the funds of local governments pursuant to section 24-75-703 (2), and any other independent and unaffiliated trustees named by such members.

(3)

“Custodian” means a designee located in the state of Colorado, with authority, including control, over public funds of a local government investment pool trust fund. For purposes of this subsection (3), “control” includes possession of public funds of a local government investment pool trust fund, as well as the authority to establish accounts for such public funds in banks and to make deposits, withdrawals, or disbursements of such public funds. If the exercise of authority over such public funds requires action by or the consent of two or more putative custodians, then such custodians shall be treated as one custodian with respect to such public funds.

(4)

“Financial institution” means an institution, with its primary place of business in this state and authorized by its charter to exercise fiduciary powers, that is a state bank, savings and loan association, or trust company chartered by this state, a national bank organized or chartered under chapter 2 of title 12 of the United States Code, or a federal savings and loan association organized or chartered under chapter 12 of title 12 of the United States Code.

(5)

Intentionally left blank —Ed.

(a)

“Investment adviser” means, except as provided in paragraph (b) of this subsection (5), any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities or who, for compensation and as part of a regular business, issues or promulgates analyses or reports concerning securities. “Investment adviser” also includes financial planners and other persons who, as an integral component of other financially related services, provide such investment advisory services to a local government investment pool trust fund for compensation or who hold themselves out as providing investment advisory services to a local government investment pool trust fund for compensation.

(b)

“Investment adviser” does not include:

(I)

A publisher of any bona fide newspaper, magazine, or business or financial publication with a regular and paid circulation; a publisher of any securities advisory newsletter with a regular and paid circulation which does not provide advice to subscribers on their specific investment situations; or any author of material included in any such newspaper, magazine, publication, or newsletter who does not otherwise come within the definition of an “investment adviser” or “investment adviser representative”;

(II)

An investment adviser representative;

(III)

A broker-dealer or sales representative for a broker-dealer licensed by the securities commissioner whose performance of investment advisory services is solely incidental to the conduct of its business as a broker-dealer and who receives no special compensation for such services;

(IV)

A financial institution or any person employed by or directly associated with a financial institution;

(V)

A lawyer, certified public accountant, professional engineer, professional geologist, or teacher, if such person:

(A)

Does not take possession of the funds or securities of a local government investment pool trust fund in connection with providing investment advisory services; and

(B)

Does not receive commissions or other compensation, directly or indirectly, from the sale of any security to any local government investment pool trust fund to whom such person provides advice about the value or advisability of investing in such security; and

(C)

Does not engage in the business of advising a local government investment pool trust fund as to the value of securities or as to the advisability of investing in, purchasing, or selling securities and provides such advice, if at all, in a manner solely incidental to the practice of the person’s profession;

(VI)

Any official, employee, or representative of the United States, any state, any political subdivision of a state, or any agency or body corporate or other instrumentality thereof, acting in such person’s official capacity on behalf of such entity;

(VII)

Any other person or class of persons the securities commissioner designates by rule or order.

(6)

“Investment adviser representative” means any individual who is a partner, officer, or director of an investment adviser, who occupies a similar status with or performs similar functions for an investment adviser, or who is employed or otherwise associated with an investment adviser, except clerical or ministerial personnel, and who:

(a)

Makes any recommendations or otherwise renders advice regarding securities;

(b)

Manages accounts or portfolios of clients of the investment adviser;

(c)

Determines which recommendation or advice regarding securities should be given;

(d)

Solicits, offers, negotiates for the sale of, or sells, investment advisory services; or

(e)

Supervises employees who perform any of the duties specified in this subsection (6).

(7)

“Investment advisory services” means those activities performed by a person in connection with such person’s engaging in any of the activities described in paragraph (a) of subsection (5) of this section.

(8)

“Local government” means any county, city and county, town, school district, special district, or other political subdivision of the state, or any department, agency, or instrumentality thereof, or any political or public corporation of the state.

(9)

“Local government investment pool trust fund” means the trust fund created pursuant to section 24-75-703, that is comprised of moneys deposited by participating local governments in such trust fund and held by a custodian.

(10)

“Participating local government” means a local government that participates in a local government investment pool trust fund.

(11)

“Securities commissioner” means the commissioner of securities created by section 11-51-701, C.R.S.

(12)

“Trust fund” means a local government investment pool trust fund.

Source: Section 24-75-701 — Definitions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-24.­pdf (accessed Oct. 20, 2023).

24‑75‑101
Deficiency in revenue
24‑75‑102
When appropriations expended - balance
24‑75‑103
Exceptions to transfer of balances
24‑75‑104
Gifts and bequests to state institutions of higher education - effect
24‑75‑105
Transfers required to implement conditional and centralized appropriations - repeal
24‑75‑106
Transfers between departments of health care policy and financing and human services for materially similar items of appropriation for medicaid programs - limitation - repeal
24‑75‑106.5
Transfers between departments of health care policy and financing and human services for corresponding items of appropriation - limitations - repeal
24‑75‑107
Cash fund transfers pursuant to sections 24-75-105 and 24-75-106 - repeal
24‑75‑108
Intradepartmental transfers between appropriations - repeal
24‑75‑109
Controller may allow expenditures in excess of appropriations - limitations - appropriations for subsequent fiscal year restricted - repeal
24‑75‑110
Limitation on judicial department - repeal
24‑75‑111
Additional authority for controller to allow expenditures in excess of appropriations - limitations - appropriations for subsequent fiscal year restricted
24‑75‑111.5
Additional authority for controller to allow expenditures for capital construction items in certain circumstances - definition
24‑75‑112
Annual general appropriation act - headnote definitions - general provisions - footnotes
24‑75‑112.5
Appropriation clauses - general provisions - legislative declaration - definition
24‑75‑113
2010 bills to increase state revenue - prohibition on hiring of new state employees
24‑75‑114
Appropriations for utilities - roll-forward spending authority - definition
24‑75‑115
Use of state funds - marketing featuring elected officials - prohibition
24‑75‑201
General fund - general fund surplus - custodial money
24‑75‑201.1
Restriction on state appropriations - legislative declaration - definitions
24‑75‑201.2
Restriction on state spending - unrestricted general fund year-end balances
24‑75‑201.3
Procedures relating to revenue estimates
24‑75‑201.5
Revenue shortfalls - required actions by the governor with respect to the reserve
24‑75‑201.7
Enforcement of state spending restriction - punitive or exemplary damages - property tax relief fund - creation
24‑75‑202
Imprest cash accounts
24‑75‑203
Loans and advances
24‑75‑204
Reports
24‑75‑205
Insurance and retirement reserves
24‑75‑206
Legislative declaration
24‑75‑207
Definitions
24‑75‑208
Investment of treasury funds
24‑75‑209
Payment of general fund warrants or checks
24‑75‑210
Reports to governor
24‑75‑219
Transfers - transportation - capital construction - definitions - repeal
24‑75‑220
State education fund - transfers - surplus - legislative declaration
24‑75‑225
Care subfund - creation - administration - transfer - legislative declaration
24‑75‑226
“American Rescue Plan Act of 2021” cash fund - creation - recipient funds - limitations - reporting - legislative declaration - definitions - repeal
24‑75‑227
Revenue loss restoration cash fund - creation - allowable uses - definitions - repeal
24‑75‑228
Economic recovery and relief cash fund - creation - allowable uses - interim task force - report - legislative declaration - definitions - repeal
24‑75‑229
Affordable housing and home ownership cash fund - creation - allowable uses - task force - legislative declaration - definitions - repeal
24‑75‑230
Behavioral and mental health cash fund - creation - allowable uses - task force - definitions - repeal
24‑75‑231
Workers, employers, and workforce centers cash fund - creation - allowable uses - definitions - repeal
24‑75‑232
“Infrastructure Investment and Jobs Act” cash fund - creation - allowable uses - report - legislative declaration - definitions - repeal
24‑75‑301
Definitions
24‑75‑302
Capital construction fund - capital assessment fees - calculation - information technology capital account
24‑75‑302.5
Controlled maintenance - trust fund - legislative declaration
24‑75‑303
Appropriation for capital construction
24‑75‑304
Legislative declaration
24‑75‑305
Transfers from capital construction fund
24‑75‑307
Capitol complex master plan implementation fund - creation - transfers for fund
24‑75‑401
Cash funds abolished
24‑75‑402
Cash funds - limit on uncommitted reserves - reduction in the amount of fees - exclusions - definitions
24‑75‑403
Capital reserve - creation - annual appropriation - definitions
24‑75‑601
Definitions
24‑75‑601.1
Legal investments of public funds - definition
24‑75‑601.2
Prior investments valid
24‑75‑601.3
Remedial actions - investments not made in conformance with statute
24‑75‑601.4
Liability of officials of public entities
24‑75‑601.5
Liability for sale of unlawful investments to public entities
24‑75‑602
Bonds of housing authority as legal investments
24‑75‑603
Depositories
24‑75‑604
Investments in bonds issued by member institutions of the farm credit system
24‑75‑605
Legal investments - cities of twenty-five thousand or more population - limitation in class of investments
24‑75‑701
Definitions
24‑75‑702
Local governments - authority to pool surplus funds
24‑75‑703
Local government investment pooling - trust method - resolution - filing requirements
24‑75‑704
Investments - limitations
24‑75‑705
Board of trustees - duties - liabilities
24‑75‑706
Custodian - location - unlawful activities
24‑75‑707
Investment adviser - duties - unlawful activities
24‑75‑708
Administrator - duties - unlawful activities
24‑75‑709
Administration and enforcement
24‑75‑901
Short title
24‑75‑902
Legislative declaration
24‑75‑903
Definitions
24‑75‑904
Computations
24‑75‑905
Authority to issue and sell notes
24‑75‑906
Limitation on amount of notes
24‑75‑907
Form and terms of notes
24‑75‑908
Execution of notes
24‑75‑909
Manner of sale of notes
24‑75‑910
Investment or deposit of proceeds - income therefrom
24‑75‑911
No debt created
24‑75‑912
Notes as legal investments and eligible collateral
24‑75‑913
Construction with other statutes
24‑75‑914
State auditor - report
24‑75‑915
Saving clause
24‑75‑1001
Higher education fund
24‑75‑1101
Legislative declaration
24‑75‑1102
Definitions
24‑75‑1103
Policy on use of tobacco settlement funds
24‑75‑1104.5
Use of settlement money - programs - repeal
24‑75‑1107
Loss of disputed payments - authorization for transfers to tobacco litigation settlement cash fund
24‑75‑1301
Definitions
24‑75‑1302
State agencies - information obtained with grants
24‑75‑1303
Report to general assembly
24‑75‑1305
Programs or services reliant on grants - statutory reauthorization of program
24‑75‑1401
Indirect costs excess recovery fund - creation - departmental accounts - use of fund - definitions - repeal
Green check means up to date. Up to date

Current through Fall 2024

§ 24-75-701’s source at colorado​.gov