Colorado § 24-82-703 Seller

Colorado Statutes

§ 24-82-703 — Seller

Colorado·Title 24 Government·Art. State Property

(1)The seller under any additional financed purchase of an asset or certificate of participation agreement entered into by the director pursuant to the provisions of this part 7 shall be any for-profit or nonprofit corporation, trust, or commercial bank as trustee.

(2)On and after August 11, 2010:

(a)The director is authorized to execute on behalf of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, any documents related to any additional financed purchase of an asset or certificate of participation agreement for which said nonprofit corporation was the seller pursuant to this part 7;

(b)The director is authorized to expend moneys of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, as is necessary and appropriate to wind

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(1) The seller under any additional financed purchase of
an asset or certificate of participation agreement entered into by the director
pursuant to the provisions of this part 7 shall be any for-profit or nonprofit
corporation, trust, or commercial bank as trustee.

(2) On and after August 11, 2010:

(a) The director is authorized to execute on behalf of the nonprofit
corporation abolished by Senate Bill 10-122, enacted in 2010, any documents
related to any additional financed purchase of an asset or certificate of
participation agreement for which said nonprofit corporation was the seller
pursuant to this part 7;

(b) The director is authorized to expend moneys of the nonprofit corporation
abolished by Senate Bill 10-122, enacted in 2010, as is necessary and appropriate to
wind up the affairs of the nonprofit corporation. After receiving written notification
from the director that the affairs of the nonprofit corporation have been concluded,
the state treasurer shall transfer the remaining balance of any account in the state
treasury containing moneys of the nonprofit corporation to the general fund.

(c) The state treasurer is authorized to accept on behalf of the nonprofit
corporation abolished by Senate Bill 10-122, enacted in 2010, any revenues to which
the nonprofit corporation would otherwise be legally entitled. Any revenues so
received by the state treasurer shall be credited to the general fund.

Colorado § 24-82-703 (Seller) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 87: Entire part added, p. 1117, � 1, effective June 20. L. 93: Entire section amended, p. 2032, � 2, effective June 9. L. 2010: Entire section amended, (SB 10-122), ch. 64, p. 225, � 1, effective August 11. L. 2021: (1) and (2)(a) amended, (HB 21-1316), ch. 325, p. 2035, � 50, effective July 1.