(1)The commission
may apply to a court of competent jurisdiction for an order enjoining any act or
practice that constitutes a violation of this part 5, and, upon a showing that a
person is engaging or intends to engage in any such act or practice, an injunction,
restraining order, or other appropriate order shall be granted by the court,
regardless of the existence of another remedy therefor. Any notice, hearing, or
duration of any injunction or restraining order shall be made in accordance with the
provisions of the Colorado rules of civil procedure.
(2)The commission may apply to a court of competent jurisdiction for the
appointment of a receiver if it determines that the appointment is necessary to
protect the property or interests of purchasers of a subdivision or part the
Free access — add to your briefcase to read the full text and ask questions with AI
(1) The commission
may apply to a court of competent jurisdiction for an order enjoining any act or
practice that constitutes a violation of this part 5, and, upon a showing that a
person is engaging or intends to engage in any such act or practice, an injunction,
restraining order, or other appropriate order shall be granted by the court,
regardless of the existence of another remedy therefor. Any notice, hearing, or
duration of any injunction or restraining order shall be made in accordance with the
provisions of the Colorado rules of civil procedure.
(2) The commission may apply to a court of competent jurisdiction for the
appointment of a receiver if it determines that the appointment is necessary to
protect the property or interests of purchasers of a subdivision or part thereof.
(3) The commission shall issue or deny a certificate or additional registration
within sixty days from the date of receipt of the application by the commission. The
commission may make necessary investigations and inspections to determine
whether any developer has violated this part 5 or any lawful rule promulgated by
the commission. If, after an application by a developer has been submitted pursuant
to section 12-10-503 or information has been submitted pursuant to section 12-10-504, the commission determines that an inspection of a subdivision is necessary, it
shall complete the inspection within sixty days from the date of filing of the
application or information, or the right of inspection is waived and the lack thereof
shall not be grounds for denial of a registration.
(4) The commission, the director, or the administrative law judge appointed
for a hearing may issue a subpoena compelling the attendance and testimony of
witnesses and the production of books, papers, or records pursuant to an
investigation or hearing of the commission. Any such subpoena shall be served in
the same manner as for subpoenas issued by district courts.
(5) The commission has the power to make any rules necessary for the
enforcement or administration of this part 5.
(6) The commission shall adopt, promulgate, amend, or repeal such rules as
are necessary to:
(a) Require written disclosures to any purchasers as provided in subsection
(7) of this section and to prescribe and require that standardized forms be used by
subdivision developers in connection with the sale or lease of a subdivision or any
part thereof, except as otherwise provided in section 12-10-503 (3)(f); and
(b) Require that developers maintain certain business records for a period of
at least seven years.
(7) The commission may require any developer to make written disclosures
to purchasers in their contracts of sale or by separate written documents if the
commission finds that the disclosures are necessary for the protection of the
purchasers.
(8) The commission or its designated representative may audit the accounts
of any homeowners' association, the funds of which are controlled by a developer.