Any security, patronage refund, per unit retain certificate, capital credit, evidence of membership, preferred equity certificate, or other equity instrument issued, sold, or reported by a limited cooperative association as an investment in its stock or capital to the patron members of the association or by an entity subject to this article or a similar law of any other jurisdiction and authorized to transact business or conduct activities in this state is exempt from the securities laws contained in the Colorado Securities Act, article 51 of title 11, C.R.S. Such securities, patronage refunds, per unit retain certificates, capital credits, or evidences of membership, preferred equity certificates, or other equity instruments may be issued, sold, or reported to patron members of the association or entity lawfully by the issuer or its directors, officers, members, or salaried employees without the necessity of the issue or its directors, officers, members, or employees being registered as brokers or dealers under the Colorado Securities Act, article 51 of title 11, C.R.S.
Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 801, � 1, effective April 2, 2012.
7-58-1010. Alternative distribution of unclaimed property, distributions, redemptions, or payments. A limited cooperative association may provide in its articles or bylaws for the disposition of funds when declared payable by the association and remaining unclaimed by the holder for three years after notification has been mailed to the holder's last-known address of record on the books of the association, which disposition may consist of transferring the funds to the general operating account of the association.
Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 801, � 1, effective April 2, 2012.