Colorado § 12-10-504 Registration of developers

Colorado Statutes

§ 12-10-504 — Registration of developers

Colorado·Title 12 Professions·Art. Real Estate

(1)The commission shall register all applicants who meet the requirements of this part 5 and provide each applicant so registered with a certificate indicating that the developer named therein is registered in the state of Colorado as a subdivision developer. The developer that will sign as seller or lessor in any contract of sale, lease, or deed purporting to convey any site, tract, lot, or divided or undivided interest from a subdivision shall secure a certificate before offering, negotiating, or agreeing to sell, lease, or transfer before the sale, lease, or transfer is made. If such person or entity is acting only as a trustee, the beneficial owner of the subdivision shall secure a certificate. A certificate issued to a developer shall entitle all sales agents and employees o

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(1) The commission shall register all
applicants who meet the requirements of this part 5 and provide each applicant so
registered with a certificate indicating that the developer named therein is
registered in the state of Colorado as a subdivision developer. The developer that
will sign as seller or lessor in any contract of sale, lease, or deed purporting to
convey any site, tract, lot, or divided or undivided interest from a subdivision shall
secure a certificate before offering, negotiating, or agreeing to sell, lease, or
transfer before the sale, lease, or transfer is made. If such person or entity is acting
only as a trustee, the beneficial owner of the subdivision shall secure a certificate.
A certificate issued to a developer shall entitle all sales agents and employees of
the developer to act in the capacity of a developer as agent for the developer. The
developer shall be responsible for all actions of the sales agents and employees.

(2) All certificates issued under this section shall expire on December 31
following the date of issuance. In the absence of any reason or condition under this
part 5 that might warrant the denial or revocation of a registration, a certificate
shall be renewed by payment of a renewal fee established pursuant to section 12-10-215. A registration that has expired may be reinstated within two years after the
expiration upon payment of the appropriate renewal fee if the applicant meets all
other requirements of this part 5.

(3) All fees collected under this part 5 shall be deposited in accordance with
section 12-10-214.

(4) With regard to any subdivision for which the information required by
section 12-10-503 (3) has not been previously submitted to the commission, each
registered developer shall register the subdivision by providing the commission
with the information before sale, lease, or transfer, or negotiating or agreeing to
sell, lease, or transfer, any such subdivision or any part thereof.

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