Material advisor - maintenance of list.

Checkout our iOS App for a better way to browser and research.

(1) For each reportable or listed transaction, a material advisor shall maintain a list of the persons to which the material advisor provides material aid, assistance, or advice with respect to organizing, managing, promoting, selling, implementing, insuring, or carrying out a reportable or listed transaction.

(2) The list required by subsection (1) of this section shall include:

  1. The name of each person described in subsection (1) of this section that is doingbusiness in this state, a member of a Colorado combined group, or a member of an affiliated group as defined in section 1504 of the internal revenue code that includes a taxpayer doing business in this state;

  2. The same information required to be contained in the list described in 26 CFR

301.6112-1; and

(c) Any additional information required by the department by rules promulgated in accordance with section 39-21-112 (1).

  1. The list required by subsection (1) of this section shall be maintained in the sameform and manner as the list described in 26 CFR 301.6112-1.

  2. A material advisor required to maintain a list under subsection (1) of this sectionshall:

  1. Make the list available to the department upon written request by the department; and

  2. Retain the information that is required to be included on the list for seven years fromthe date that the information is included.

  1. The department shall promulgate rules in accordance with section 39-21-112 (1) establishing procedures to implement this section.

Source: L. 2009: Entire section added, (HB 09-1093), ch. 75, p. 274, § 4, effective April 2.


Download our app to see the most-to-date content.