§ 11-51-706 — Consent to service of process

Colorado § 11-51-706

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

Text

(1) An applicant for licensing
under this article, a person filing a registration statement under this article, and an
issuer who proposes to offer in this state through an agent a security registered
under this article shall file with the securities commissioner, in such form as the
securities commissioner by rule prescribes, an irrevocable consent appointing the
securities commissioner or the successor in office of the securities commissioner to
be the attorney for said person to receive service of any lawful process in any
noncriminal suit, action, or proceeding against such person, or the successor,
executor, or administrator of such person, arising under this article or any rule or
order under this article after the consent has been filed with the same force and
validity as if served personally on the person filing the consent.

(2) A person who has filed a consent in compliance with subsection (1) of this
section in connection with a previous application for licensing or registration need
not file an additional consent, but the securities commissioner may request, and in
response to such request such person shall provide, verification of such previous
consent.

(3) Service upon any person who has filed a consent pursuant to subsection
(1) of this section may be made by leaving a copy of the process in the office of the
securities commissioner, but it is not effective unless the plaintiff, who may be the
securities commissioner in a suit, action, or proceeding instituted by the securities
commissioner, forthwith sends a notice of the service and a copy of the process by
registered mail to the defendant or respondent at the last address on file with the
securities commissioner and unless the plaintiff's affidavit of compliance with this
subsection (3) is filed in the case on or before the return day of the process, if any,
or within such further time as the court allows.

(4) The methods of service of process provided for in this section are in
addition to other methods of service of process provided for by law, including
section 13-1-124, C.R.S. Any violation of this article shall be deemed to constitute
the transaction of business within this state for the purpose of section 13-1-124,
C.R.S.

Legislative History

Source: L. 90: Entire article R&RE, p. 736, � 1, effective July 1.