§ 11-51-307 — Exempt securities

Colorado § 11-51-307

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Securities

Text

(1) The following securities are exempted
from sections 11-51-301 and 11-51-305:

(a) Any security (including a revenue obligation) issued or guaranteed by the
United States, any state, any political subdivision of a state, or any agency or
corporate or other instrumentality of one or more of any of them or any certificate
of deposit for any of them;

(b) Any security issued or guaranteed by Canada, any Canadian province, any
political subdivision of any such province, any agency or corporate or other
instrumentality of one or more of any of them, or any other foreign government with
which the United States currently maintains diplomatic relations, if the security is
recognized as a valid obligation by the issuer or guarantor;

(c) Any security issued by and representing an interest in or a debt of, or
guaranteed by, any depository institution organized under the laws of the United
States or any depository institution organized and supervised under the laws of any
state;

(d) Any security issued or guaranteed by any federal credit union or any
credit union, industrial loan association, or similar association organized and
supervised under the laws of this state;

(e) Any security issued or guaranteed by any railroad, other common carrier,
public utility, or holding company which is: Subject to the jurisdiction of the surface
transportation board; a registered holding company under the federal Public Utility
Holding Company Act of 1935 or a subsidiary of such a company within the
meaning of that act; or regulated in respect of its issuance or guarantee of the
security by a governmental authority of the United States, any state, Canada, or any
Canadian province;

(f) Any security listed or approved for listing upon notice of issuance on any
national securities exchange registered under the federal Securities Exchange Act
of 1934, 15 U.S.C. sec. 78f, as amended, or any other security of the same issuer
that is of a senior or substantially equal rank; any security called for by subscription
rights or warrants so listed, designated, or approved; or any warrant or right to
purchase or subscribe to any of them;

(g) Any security which is issued by any person organized and operated not
for private profit but exclusively for religious, educational, benevolent, or charitable
purposes or as a chamber of commerce or trade or professional association and
which is offered or sold to a bona fide constituent or member of such organization
or association, if no direct or indirect commission or remuneration is paid in
connection with the offer or sale of such security except to a licensed broker-dealer; or any security which is issued by any cooperative association engaged in
the sale or production of electricity and regulated by the public utilities commission
of this state;

(h) Any commercial paper which arises out of a current transaction or the
proceeds of which have been or are to be used for current transactions and which
evidences an obligation to pay cash within nine months of the date of issuance,
exclusive of days of grace, or any renewal of such paper which is likewise limited, or
any guarantee of such paper or of any such renewal;

(i) Any security issued in connection with an employee's stock purchase,
savings, pension, profit-sharing, or similar benefit plan; and

(j) Any security issued by a cooperative association as defined in article 55 of
title 7, C.R.S.

(k) Repealed.

(2) Repealed.

Legislative History

Source: L. 90: Entire article R&RE, p. 715, � 1, effective July 1. L. 2001: (1)(e) amended, p. 1267, � 7, effective June 5. L. 2008: (1)(f) amended, p. 21, � 10, effective August 5. L. 2018: (1)(k) and (2) repealed, (HB 18-1388), ch. 280, p. 1756, � 5, effective August 8.