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HB18-1388

Exempt Reqmnt Register Security If Notice Filing

Concerning an exemption from the requirement to register a security if the security is subject to a notice filing as permitted under federal law.
Session:
2018 Regular Session
Subject:
Financial Services & Commerce

Existing law generally requires that, for a person to issue a security, either the security or the person must be exempt or the person must register the security with the securities commissioner. The federal 'National Securities Markets Improvement Act of 1996' (NSMIA) preempts certain provisions of the 'Colorado Securities Act' that require the filing of a registration statement and the collection of fees for mutual fund offerings. NSMIA permits state securities regulators to require only notice filing and the payment of a required fee for mutual fund offerings.

Sections 1, 2, and 5 of the bill eliminate the registration requirement, and section 3 substitutes a notice filing requirement. The notice is valid for 12 months, must be accompanied by a fee established by the securities commissioner, and can be renewed.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    05/29/2018 Signed Act PDF
    05/14/2018 Final Act PDF
    05/03/2018 Rerevised PDF
    05/02/2018 Revised PDF
    04/27/2018 Reengrossed PDF
    04/26/2018 Engrossed PDF
    04/12/2018 Introduced PDF