§ 7-56-509 — Exemption from securities laws

Any security, patronage refund,
per unit retain certificate, capital credit, evidence of membership, preferred equity
certificate, or other equity instrument issued, sold, or reported by a cooperative as
an investment in its stock or capital to the patrons of a cooperative formed under or
subject to this article or a similar law of any other jurisdiction and authorized to
transact business or conduct activities in this state is exempt from the securities
laws contained in the Colorado Securities Act, article 51 of title 11, C.R.S. Such
securities, patronage refunds, per unit retain certificates, capital credits, or
evidences of membership, preferred equity certificates or other equity instruments
may be issued, sold, or reported lawfully by the issuer or its directors, officers,
members, or salaried employees without the necessity of the issuer or its directors,
officers, members, or employees being registered as brokers or dealers under the
Colorado Securities Act, article 51 of title 11, C.R.S.

Legislative History

Source: L. 96: Entire article R&RE, p. 512, � 1, effective July 1. L. 2003: Entire section amended, p. 2229, � 93, effective July 1, 2004.