Title 12, Professions and Occupations
0 chapters · 1,262 sections in this title.
Colo. Rev. Stat. § 12-10-411 Violations
0.5K chars
The violation of any provision of this part 4 by a broker constitutes an act pursuant to section 12-10-217 (1)(m) for which the real estate commission may investigate and take administrative action against any such broker pursuant to sections 12-10-217 and 12-10-219. Source: L. 2…
Colo. Rev. Stat. § 12-10-501 Definitions
3.5K chars
As used in this part 5, unless the context otherwise requires: (1) Accredited investor has the same meaning as defined in the securities and exchange commission's rule 501 of regulation D, 17 CFR 230.501 (a). (1.5) Commission means the real estate commission established under sec…
Colo. Rev. Stat. § 12-10-502 Registration required
2.1K chars
(1) Unless exempt under the provisions of section 12-10-501 (3), a developer, before selling, leasing, or transferring or agreeing or negotiating to sell, lease, or transfer, directly or indirectly, any subdivision or any part thereof, shall register pursuant to this part 5. (2) …
Colo. Rev. Stat. § 12-10-503 Application for registration
6.5K chars
(1) Every person who is required to register as a developer under this part 5 shall submit to the commission an application that contains the information described in subsections (2) and (3) of this section. If the information is not submitted, the commission may deny the applica…
Colo. Rev. Stat. § 12-10-504 Registration of developers
7.0K chars
(1) The commission shall register all applicants who meet the requirements of this part 5 and provide each applicant so registered with a certificate indicating that the developer named therein is registered in the state of Colorado as a subdivision developer. The developer that …
Colo. Rev. Stat. § 12-10-505 Refusal, revocation, or suspension of registration - letter of admonition - probation
6.7K chars
(1) The commission may impose an administrative fine not to exceed two thousand five hundred dollars for each separate offense; may issue a letter of admonition; may place a registrant on probation under its close supervision on such terms and for such time as it deems appropriat…
Colo. Rev. Stat. § 12-10-506 Powers of commission - injunction - rules
3.3K chars
(1) The commission may apply to a court of competent jurisdiction for an order enjoining any act or practice that constitutes a violation of this part 5, and, upon a showing that a person is engaging or intends to engage in any such act or practice, an injunction, restraining ord…
Colo. Rev. Stat. § 12-10-507 Violation - penalty
0.6K chars
Any person who fails to register as a developer in violation of this part 5 commits a class 6 felony and shall be punished as provided in section 18-1.3-401. Any agreement or contract for the sale or lease of a subdivision or part thereof shall be voidable by the purchaser and un…
Colo. Rev. Stat. § 12-10-508 Repeal of part - subject to review
0.3K chars
This part 5 is repealed, effective September 1, 2026. Before the repeal, this part 5 is scheduled for review in accordance with section 24-34-104. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 663, � 1, effective October 1. Editor's note: This sec…
Colo. Rev. Stat. § 12-10-601 Legislative declaration
1.0K chars
The general assembly finds, determines, and declares that sections 12-10-602 to 12-10-623 are enacted pursuant to the requirements of the Real Estate Appraisal Reform Amendments, Title XI of the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amen…
Colo. Rev. Stat. § 12-10-602 Definitions
14.1K chars
As used in this part 6, unless the context otherwise requires: (1) (a) Appraisal, appraisal report, or real estate appraisal means a written or oral analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, ident…
Colo. Rev. Stat. § 12-10-603 Board of real estate appraisers - creation - compensation - immunity - legislative declaration - subject to review - repeal of part
4.4K chars
(1) (a) There is hereby created in the division of real estate a board of real estate appraisers consisting of seven members appointed by the governor with the consent of the senate. Of the members, three shall be licensed or certified appraisers, one of whom shall have expertise…
Colo. Rev. Stat. § 12-10-604 Powers and duties of the board - rules
5.0K chars
(1) In addition to all other powers and duties imposed upon it by law, the board has the following powers and duties: (a) (I) To promulgate and amend, as necessary, rules pursuant to article 4 of title 24 for the implementation and administration of this part 6 and as required to…
Colo. Rev. Stat. § 12-10-605 Fees, penalties, and fines collected under part 6
19.1K chars
All fees, penalties, and fines collected pursuant to this part 6, not including fees retained by contractors pursuant to contracts entered into in accordance with section 12-10-203, 12-10-606, or 24-34-101, shall be transmitted to the state treasurer, who shall credit the same to…
Colo. Rev. Stat. § 12-10-606 Qualifications for licensing and certification of appraisers - continuing education - rules - evaluations - definitions
14.9K chars
(1) (a) The board shall, by rule, prescribe requirements for the initial licensing or certification of persons under this part 6 to meet the requirements of the “Real Estate Appraisal Reform Amendments”, Title XI of the federal “Financial Institutions Reform, Recovery, and Enforc…
Colo. Rev. Stat. § 12-10-607 Appraisal management companies - application for license - exemptions
8.3K chars
(1) An applicant shall apply for a license as an appraisal management company, or as a controlling appraiser, to the board in a manner prescribed by the board. (2) The board may grant appraisal management company licenses to individuals, partnerships, limited liability companies,…
Colo. Rev. Stat. § 12-10-608 Errors and omissions insurance - duties of the division - certificate of coverage - group plan made available - rules
2.4K chars
(1) Every licensee under this part 6, except an appraiser who is employed by a state or local governmental entity or an inactive appraiser or appraisal management company, shall maintain errors and omissions insurance to cover all activities contemplated under this part 6. The di…
Colo. Rev. Stat. § 12-10-609 Bond required
0.7K chars
(1) Before the board issues a license to an applicant for an appraisal management company license, the applicant shall post with the board a surety bond in the amount of twenty-five thousand dollars. A licensed appraisal management company shall maintain the required bond at all …
Colo. Rev. Stat. § 12-10-610 Expiration of licenses - renewal - penalties - fees - rules
4.6K chars
(1) (a) All licenses or certificates expire pursuant to a schedule established by the director and may be renewed or reinstated pursuant to this section. Upon compliance with this section and any applicable rules of the board regarding renewal, including the payment of a renewal …
Colo. Rev. Stat. § 12-10-611 Licensure or certification by endorsement - temporary practice
1.7K chars
(1) The board may issue a license or certification to an appraiser by endorsement to engage in the occupation of real estate appraisal to any applicant who has a license or certification in good standing as a real estate appraiser under the laws of another jurisdiction if: (a) Th…
Colo. Rev. Stat. § 12-10-612 Denial of license or certificate - renewal - definition
19.1K chars
(1) The board may determine whether an applicant for licensure or certification possesses the necessary qualifications for licensure or certification required by this part 6. The board may consider such qualities as the applicant's fitness and prior professional licensure and whe…
Colo. Rev. Stat. § 12-10-613 Prohibited activities - grounds for disciplinary actions - procedures
12.8K chars
(1) A real estate appraiser is in violation of this part 6 if the appraiser: (a) Has been convicted of a felony or has had accepted by a court a plea of guilty or nolo contendere to a felony if the felony is related to the ability to act as a real property appraiser. A certified …
Colo. Rev. Stat. § 12-10-614 Appraisal management companies - prohibited activities - grounds for disciplinary actions - procedures - rules
16.5K chars
(1) The board, upon its own motion, may, and upon a complaint submitted to the board in writing by any person, shall, investigate the activities of a licensed appraisal management company; an appraiser designated as a controlling appraiser by a partnership, limited liability comp…
Colo. Rev. Stat. § 12-10-615 Judicial review of final board actions and orders
0.4K chars
Final actions and orders of the board under sections 12-10-612, 12-10-613, and 12-10-614 appropriate for judicial review are subject to judicial review in the court of appeals in accordance with section 24-4-106 (11). Source: L. 2019: Entire title R&RE with relocations, (HB 19-11…
Colo. Rev. Stat. § 12-10-616 Unlawful acts - penalties
3.3K chars
(1) It is unlawful for a person to: (a) Violate section 12-10-613 (1)(c), (1)(e), or (1)(f) or perform a real estate appraisal without first having obtained a license or certificate from the board pursuant to this part 6; (b) Accept a fee for an independent appraisal assignment t…
Colo. Rev. Stat. § 12-10-617 Appraisal management company license required - violations - injunction
1.5K chars
(1) Except as provided in section 12-10-607 (9), it is unlawful for any person, partnership, limited liability company, or corporation to engage in the business of appraisal management in this state without first having obtained a license from the board. The board shall not grant…
Colo. Rev. Stat. § 12-10-618 Injunctive proceedings
0.9K chars
(1) The board may, in the name of the people of the state of Colorado, through the attorney general of the state of Colorado, apply for an injunction in any court of competent jurisdiction to perpetually enjoin a person or appraisal management company from committing an act prohi…
Colo. Rev. Stat. § 12-10-619 Special provision for appraiser employees of county assessors
0.9K chars
(1) Except as provided in subsection (2) of this section, unless a federal waiver is applied for and granted pursuant to section 12-10-604 (1)(i), a person acting as a real estate appraiser in this state shall be licensed or certified as provided in this part 6. No person shall p…
Colo. Rev. Stat. § 12-10-620 Duties of board under federal law
1.4K chars
(1) The board shall: (a) Transmit to the appraisal subcommittee of the federal financial institutions examination council or its successor entity, no less than annually, a roster listing individuals and appraisal management companies that have received a certificate or license as…
Colo. Rev. Stat. § 12-10-621 Business entities
3.9K chars
(1) A corporation, partnership, bank, savings and loan association, savings bank, credit union, or other business entity may provide appraisal services if the appraisal is prepared by a certified general appraiser, a certified residential appraiser, or a licensed appraiser. An in…
Colo. Rev. Stat. § 12-10-622 Provisions found not to comply with federal law null and void - severability
1.0K chars
(1) If any provision of this part 6 is found by a court of competent jurisdiction or by the appropriate federal agency not to comply with the federal “Financial Institutions Reform, Recovery, and Enforcement Act of 1989”, as amended, Pub.L. 101-73, the provision is null and void,…
Colo. Rev. Stat. § 12-10-623 Scope of article - regulated financial institutions - de minimis exemption
2.7K chars
(1) (a) This article 10 does not apply to an appraisal relating to any real-estate-related transaction or loan made or to be made by a financial institution or its affiliate if the real-estate-related transaction or loan is excepted from appraisal regulations established by the p…
Colo. Rev. Stat. § 12-10-701 Short title
0.3K chars
The short title of this part 7 is the Mortgage Loan Originator Licensing and Mortgage Company Registration Act. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 686, � 1, effective October 1. Editor's note: This section is similar to former � 12-61-9…
Colo. Rev. Stat. § 12-10-702 Definitions
13.9K chars
As used in this part 7, unless the context otherwise requires: (1) Affiliate means a person who, directly or indirectly, through intermediaries, controls, is controlled by, or is under the common control of another person addressed by this part 7. (2) Affordable housing dwelling …
Colo. Rev. Stat. § 12-10-703 Board of mortgage loan originators - creation - compensation - enforcement of part after board creation - immunity
6.4K chars
(1) (a) There is hereby created in the division of real estate a board of mortgage loan originators, consisting of five members appointed by the governor with the consent of the senate. (b) Of the members of the board: (I) Three must be licensed mortgage loan originators. The gen…
Colo. Rev. Stat. § 12-10-704 License required - rules
9.6K chars
(1) (a) Unless licensed by the board and registered with the nationwide mortgage licensing system and registry as a state-licensed loan originator, an individual shall not originate or offer to originate a mortgage or act or offer to act as a mortgage loan originator. (b) On and …
Colo. Rev. Stat. § 12-10-705 Registration required - rules
0.9K chars
(1) On or after January 1, 2011, each mortgage company shall register with the nationwide mortgage licensing system and registry, unless exempted by rule by the board, and shall renew its registration each calendar year based on the following criteria: (a) (I) The mortgage compan…
Colo. Rev. Stat. § 12-10-706 License or registration inactivation
3.6K chars
(1) The board may inactivate a state license or a registration with the nationwide mortgage licensing system and registry when a licensee has failed to: (a) Comply with the surety bond requirements of sections 12-10-704 (8) and 12-10-717; (b) Comply with the errors and omissions …
Colo. Rev. Stat. § 12-10-707 Errors and omissions insurance - duties of the board - certificate of coverage - when required - group plan made available - effect - rules
2.5K chars
(1) Every licensee under this part 7, except an inactive mortgage loan originator or an attorney licensee who maintains a policy of professional malpractice insurance that provides coverage for errors and omissions insurance for their activities as a licensee under this part 7, s…
Colo. Rev. Stat. § 12-10-708 License renewal
1.0K chars
(1) In order for a licensed mortgage loan originator to renew a license issued pursuant to this part 7, the mortgage loan originator shall: (a) Continue to meet the minimum standards for issuance of a license pursuant to this part 7; (b) Satisfy the annual continuing education re…
Colo. Rev. Stat. § 12-10-709 Exemptions - definition - rules
4.1K chars
(1) Except as otherwise provided in section 12-10-713, this part 7 does not apply to the following, unless otherwise determined by the federal bureau of consumer financial protection or the United States department of housing and urban development: (a) With respect to a residenti…
Colo. Rev. Stat. § 12-10-710 Originator's relationship to borrower - rules
1.6K chars
(1) A mortgage loan originator shall have a duty of good faith and fair dealing in all communications and transactions with a borrower. The duty includes, but is not limited to: (a) The duty to not recommend or induce the borrower to enter into a transaction that does not have a …
Colo. Rev. Stat. § 12-10-711 Powers and duties of the board - rules
11.5K chars
(1) The board may deny an application for a license, refuse to renew, or revoke the license of an applicant or licensee who has: (a) Filed an application with the board containing material misstatements of fact or omitted any disclosure required by this part 7; (b) Within the las…
Colo. Rev. Stat. § 12-10-712 Powers and duties of the board over mortgage companies - fines - rules
4.7K chars
(1) With respect to mortgage companies, the board may deny an application for registration; refuse to renew, suspend, or revoke the registration; enter cease-and-desist orders; and impose fines as set forth in this section as follows: (a) If the board has reasonable cause to beli…
Colo. Rev. Stat. § 12-10-713 Disciplinary actions - grounds - procedures - rules
13.7K chars
(1) The board, upon its own motion, may, or upon the complaint in writing of any person, shall, investigate the activities of any mortgage loan originator. The board has the power to impose an administrative fine in accordance with section 12-10-711, deny a license, censure a lic…
Colo. Rev. Stat. § 12-10-714 Hearing - administrative law judge - review - rules
3.0K chars
(1) Except as otherwise provided in this section, all proceedings before the board with respect to disciplinary actions and denial of licensure under this part 7, at the discretion of the board, may be conducted by an authorized representative of the board or an administrative la…
Colo. Rev. Stat. § 12-10-715 Subpoena - petty offense
1.0K chars
(1) The board or the administrative law judge appointed for hearings may issue subpoenas, as described in section 12-10-711 (7), which shall be served in the same manner as subpoenas issued by district courts and shall be issued without discrimination between public or private pa…
Colo. Rev. Stat. § 12-10-716 Immunity
0.5K chars
A person participating in good faith in the filing of a complaint or report or participating in an investigation or hearing before the board or an administrative law judge pursuant to this part 7 shall be immune from any liability, civil or criminal, that otherwise might result b…
Colo. Rev. Stat. § 12-10-717 Bond required - rules
1.0K chars
(1) Before receiving a license, an applicant shall post with the board a surety bond in an amount prescribed by the board by rule. A licensed mortgage loan originator shall maintain the required bond at all times. The surety bond may be held by the individual mortgage loan origin…
Colo. Rev. Stat. § 12-10-718 Fees
0.6K chars
The board may set the fees for issuance and renewal of licenses and registrations under this part 7. The fees shall be set in amounts that offset the direct and indirect costs of implementing this part 7 and section 38-40-105. The money collected pursuant to this section shall be…