§ 11-59-117 — Judicial review of orders

(1) Any person claiming to be aggrieved
by a final order of the securities commissioner, including a refusal to issue an order,
may obtain judicial review thereof, and the securities commissioner may obtain an
order of court for its enforcement in a proceeding as provided in this section.

(2) Such proceeding shall be brought in the court of appeals by appropriate
proceedings under section 24-4-106 (11), C.R.S.

(3) Such proceeding shall be initiated by the filing of a petition in the court of
appeals and the service of a copy thereof upon the securities commissioner and
upon all parties who appeared before the securities commissioner, and thereafter
such proceeding shall be processed under the Colorado appellate rules. The court
of appeals shall have jurisdiction of the proceeding and the questions determined
therein and shall have power to grant such temporary relief or restraining order as
it deems just and proper and to make and enter upon the pleadings, testimony, and
proceedings set forth in such transcript an order enforcing, modifying, and
enforcing as so modified or setting aside the order of the securities commissioner in
whole or in part.

(4) An objection that has not been urged before the securities commissioner
shall not be considered by the court, unless the failure or neglect to urge such
objection shall be excused because of extraordinary circumstances.

(5) The findings of the securities commissioner as to the facts shall be
conclusive if supported by substantial evidence.

(6) The jurisdiction of the court shall be exclusive, and its judgment and
order shall be final, subject to review as provided by law and the Colorado appellate
rules.

(7) The commencement of proceedings under subsection (1) of this section
does not, unless specifically ordered by the court, operate as a stay of the
securities commissioner's order.

Legislative History

Source: L. 91: Entire article added, p. 2420, � 1, effective January 1, 1992.