§ 7-58-1009 — Relation to state securities law

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 limited
cooperative association as an investment in its stock or capital to the patron
members of the association or by an entity 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 to patron
members of the association or entity lawfully by the issuer or its directors, officers,
members, or salaried employees without the necessity of the issue 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. 2011: Entire article added, (SB 11-191), ch. 197, p. 801, � 1, effective April 2, 2012.