(1) An applicant for licensing under this article, a person filing a registration statement under this article, and an issuer who proposes to offer in this state through an agent a security registered under this article shall file with the securities commissioner, in such form as the securities commissioner by rule prescribes, an irrevocable consent appointing the securities commissioner or the successor in office of the securities commissioner to be the attorney for said person to receive service of any lawful process in any noncriminal suit, action, or proceeding against such person, or the successor, executor, or administrator of such person, arising under this article or any rule or order under this article after the consent has been filed with the same force and validity as if served personally on the person filing the consent.
A person who has filed a consent in compliance with subsection (1) of this section inconnection with a previous application for licensing or registration need not file an additional consent, but the securities commissioner may request, and in response to such request such person shall provide, verification of such previous consent.
Service upon any person who has filed a consent pursuant to subsection (1) of thissection may be made by leaving a copy of the process in the office of the securities commissioner, but it is not effective unless the plaintiff, who may be the securities commissioner in a suit, action, or proceeding instituted by the securities commissioner, forthwith sends a notice of the service and a copy of the process by registered mail to the defendant or respondent at the last address on file with the securities commissioner and unless the plaintiff's affidavit of compliance with this subsection (3) is filed in the case on or before the return day of the process, if any, or within such further time as the court allows.
The methods of service of process provided for in this section are in addition to othermethods of service of process provided for by law, including section 13-1-124, C.R.S. Any violation of this article shall be deemed to constitute the transaction of business within this state for the purpose of section 13-1-124, C.R.S.
Source: L. 90: Entire article R&RE, p. 736, § 1, effective July 1.
Editor's note: This section is similar to former § 11-51-127 as it existed prior to 1990. 11-51-707. Collection of fees - division of securities cash fund created. (1) A fee payable under this article shall be deemed paid when the securities commissioner receives the payment.
The securities commissioner shall transmit all fees collected under this article, notincluding fees retained by contractors pursuant to contracts entered into in accordance with section 11-51-405 or 24-34-101, C.R.S., to the state treasurer, who shall credit the same to the division of securities cash fund, which fund is hereby created. Pursuant to subsection (3) of this section, the general assembly shall make annual appropriations from said fund for expenditures of the division of securities. The expenditures incurred by the division shall be made out of such appropriations upon vouchers and warrants drawn pursuant to law. All moneys credited to the division of securities cash fund shall be used as provided in this section and shall not be deposited in or transferred to the general fund of this state or any other fund.
(a) The division shall set the amount of each fee that it is authorized by law to collect under this article 51. The budget request and the fees for the division must reflect direct and indirect costs. The division, in the discretion of the securities commissioner, may set:
Registration fees payable under section 11-51-302, according to a scale of rates applied to the dollar amount of securities to be registered, with a maximum fee specified;
A notice filing fee and notice filing renewal fee payable under section 11-51-304.5 for each series, portfolio, separate account, or fund of an open-end management company or unit investment trust;
Registration fees payable under section 11-51-905 (4), according to a scale of ratesapplied to the asset size of the trust fund as of the date of registration; and
Annual fees payable under section 11-51-906 (4)(e), according to a scale of ratesapplied to the asset size of the trust fund as of the date of the filing of the annual audit.
Based upon the appropriation made and subject to the approval of the executivedirector of the department of regulatory agencies, the division shall set its fees for a fiscal year so that the revenue generated from said fees approximates its direct and indirect costs, including statewide indirect costs. Such fees for a fiscal year may be adjusted by the securities commissioner no more often than twice during that fiscal year.
On July 1 each year, whenever moneys appropriated to the division for its activitiesfor the prior fiscal year are unexpended, said moneys shall be made a part of the appropriation to the division for the next fiscal year, and such amount shall not be raised from fees collected by the division. If a supplemental appropriation is made to the division for its activities, its fees, when adjusted for the fiscal year next following that in which the supplemental appropriation was made, shall be adjusted by an additional amount which is sufficient to compensate for such supplemental appropriation. Funds appropriated to the division in the annual long appropriations bill shall be designated as a cash fund and shall not exceed the amount anticipated to be raised from fees collected by the division.
Source: L. 90: Entire article R&RE, p. 737, § 1, effective July 1. L. 93: (3)(a) amended, p. 331, § 5, effective July 1. L. 94: (3)(a) amended, p. 1847, § 11, effective July 1. L. 2004: (2) amended, p. 1253, § 3, effective May 27. L. 2018: (3)(a) amended, (HB 18-1388), ch. 280, p. 1757, § 6, effective August 8.
Editor's note: This section is similar to former § 11-51-129 as it existed prior to 1990. 11-51-708. Administrative files. (1) A document is filed when it is received by the securities commissioner.
The securities commissioner shall keep a register of all applications for licenses andregistration statements which are or have ever been effective under this article and all orders which have been entered under this article. The register shall be open for public inspection.
The information contained in or filed with any registration statement, application, orreport may be made available to the public under article 72 of title 24, C.R.S.
Upon request and at such reasonable charges as the securities commissioner prescribes, the securities commissioner shall furnish to any person photostatic or other copies of any entry in the register or any document which is a matter of public record and may certify their authenticity; and the securities commissioner may also provide certification of the absence of any entry in the register or the absence of any document or other record from division files which are of public record. In any action, proceeding, or prosecution under this article, any copy so certified, and any certification by the securities commissioner as to the absence of any such entry, document, or record from division files, are prima facie evidence of the contents of the entry, document, or record so certified or of the absence of the entry, document, or record which is the subject of such certification.
Source: L. 90: Entire article R&RE, p. 738, § 1, effective July 1.
Editor's note: This section is similar to former § 11-51-126 as it existed prior to 1990.