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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.
2018 Regular Session
Financial Services & Commerce
Bill Summary

Securities - registration statement exemption - mutual fund offerings - notice filing. 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 act 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 this bill as enacted.)


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


Sponsor Type Legislators
Prime Sponsor

Rep. A. Garnett
Sen. J. Tate



Rep. S. Humphrey, Rep. H. McKean, Rep. D. Michaelson Jenet, Rep. P. Rosenthal, Rep. K. Van Winkle

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details