(1) Any person who violates any provision of this article commits a class 3 misdemeanor and shall be punished as provided in section 18-1.3-501, C.R.S. Any person who violates the trust fund provisions of this article or any other misappropriation of funds commits theft pursuant to section 18-4-401, C.R.S.
(2) The commissioner may apply to a court of competent jurisdiction for the appointment of a receiver if the commissioner determines that such appointment is necessary to protect the interests of the contract buyers.
Source: L. 95: Entire article R&RE, p. 1045, § 1, effective May 25. L. 2002: (1) amended, p. 1468, § 28, effective October 1.
Editor's note: This section is similar to former § 10-15-118 as it existed prior to 1995.
Cross references: For the legislative declaration contained in the 2002 act amending subsection (1), see section 1 of chapter 318, Session Laws of Colorado 2002.