Colorado § 11-51-405 Examinations and alternate qualifications

Colorado Statutes

§ 11-51-405 — Examinations and alternate qualifications

Colorado·Title 11 Financial·Art. Securities

(1)In the case of a license as a broker-dealer, if the applicant is not registered as a broker-dealer under the federal Securities Exchange Act of 1934, the securities commissioner may by rule require the successful completion of a standardized written examination by any individual who will have primary responsibility to supervise any licensed sales representative of the broker-dealer. In the case of an application for a license as a sales representative to act for a broker-dealer who is not registered as a broker-dealer under the federal Securities Exchange Act of 1934 or to act for an issuer, the securities commissioner may by rule require the successful completion of a standardized written examination by the applicant. Examinations may differ among classes of applicants. Any

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(1) In the case of a
license as a broker-dealer, if the applicant is not registered as a broker-dealer
under the federal Securities Exchange Act of 1934, the securities commissioner
may by rule require the successful completion of a standardized written
examination by any individual who will have primary responsibility to supervise any
licensed sales representative of the broker-dealer. In the case of an application for
a license as a sales representative to act for a broker-dealer who is not registered
as a broker-dealer under the federal Securities Exchange Act of 1934 or to act for
an issuer, the securities commissioner may by rule require the successful
completion of a standardized written examination by the applicant. Examinations
may differ among classes of applicants. Any examination may be administered by
the securities commissioner or any person the securities commissioner may
designate.

(2) An applicant for a license as a broker-dealer or sales representative who
is a licensed real estate broker or salesperson pursuant to part 2 of article 10 of
title 12 and whose securities activities in this state are limited to trading in
securities comprised of notes, bonds, or other evidences of indebtedness secured
by mortgages or deeds of trust upon real estate shall be excused from any
examination requirement under subsection (1) of this section.

(3) In the case of a license as an investment adviser representative, the
securities commissioner may by rule require the successful completion of one or
more standardized written examinations. Examinations may differ among classes of
applicants. Any examination may be administered by the securities commissioner or
any person the securities commissioner may designate.

(4) The securities commissioner may by rule designate other qualifications
and credentials that will be accepted in lieu of meeting the examination
requirement set forth in subsection (3) of this section.

Colorado § 11-51-405 (Examinations and alternate qualifications) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 90: Entire article R&RE, p. 723, � 1, effective July 1. L. 98: (3) and (4) added, p. 553, � 8, effective January 1, 1999. L. 2003: (2) amended, p. 1989, � 24, effective May 22. L. 2019: (2) amended, (HB 19-1172), ch. 136, p. 1659, � 60, effective October 1.