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HB16-1049

Crowdfunding Escrow In Depository Institution

Concerning an escrow account held by a depository institution on behalf of an issuer of an intrastate offering of securities.
Session:
2016 Regular Session
Subject:
Financial Services & Commerce
Bill Summary

The act amends the 'Colorado Crowdfunding Act', enacted in 2015, by:
  • Using the defined term 'depository institution' to describe the entity that an issuer must use to set up an escrow account to hold the proceeds of a sale of intrastate securities; and
  • Allowing the issuer to terminate the escrow account once the minimum amount of proceeds from the sale of the securities have been deposited into the account.

(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    03/09/2016 Signed Act PDF
    03/01/2016 Final Act PDF
    02/24/2016 Rerevised PDF
    02/23/2016 Revised PDF
    01/26/2016 Reengrossed PDF
    01/25/2016 Engrossed PDF
    01/13/2016 Introduced PDF
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