4 Colo. Code Regs. § 725-6, ch. 3
Current through Register Vol. 47, No. 20, October 25, 2024
Chapter 3 - Registration and Certification3.1. Renewal of the Registration and Certification Renewal of the registration and certification as a Developer can be executed only on the renewal application provided by the Commission, and must be delivered to the Commission, accompanied by the proper Fees, on or before December 31 of each year.
3.2. Licensed Real Estate Brokers The registration and certification of a Developer under Title 12, Article 10, Part 5, C.R.S., does not exempt the Developer from the requirements for the licensing of real estate brokers under Title 12, Article 10, Part 1, C.R.S. Exemptions from the licensing of real estate brokers are made pursuant to section 12-10-201(6)(b), C.R.S.
3.3. Change in Principal Office Notification in writing must be made to the Commission within ten (10) Days of any change in the principal office address of the Developer or the natural person, or any other change in the information submitted pursuant to section 12-10-503, C.R.S.
3.4. Records A. Records as required by Title 12, Article 10, C.R.S., and these rules, may be maintained as an Electronic Record so long as the Electronic Records are in a format that has the continued capability to be retrieved and legibly printed. The Developer must produce printed records upon request of the Commission, or by any principal party to a transaction.B. Developer must maintain all Business Records related to the Subdivision development in a Safe and Secure Manner for a period of seven (7) years from the effective date of each such Business Record.3.5. Revisions to Documents A Developer is not required to file amendments to its registration filed with the Commission when revisions are made to documents previously submitted to the Commission, so long as the revised documents continue to:
A. Comply with Title 12, Article 10, Part 5, C.R.S., and these rules; andB. Accurately reflect the Subdivision offering.3.6. Duty to Disclose the Following Events: A. Notwithstanding Rule 3.5., a Developer must provide the Commission with notice of the following events within ten (10) Days after such event, unless otherwise provided below: 1. Any change in the information provided in the registration pursuant to sections 12-10-503(2)(a)(III), (V), (VI) or (VII), C.R.S.;2. Any change in the terms of any Nondisturbance Agreement(s) or partial release provisions in connection with any documents previously submitted to the Commission pursuant to section 12-10-503(3)(e), C.R.S., and Rule 2.1.B.4.;3. Any new lien encumbering the Subdivision or any part thereof other than encumbrances created or permitted by purchasers;4. The termination or transfer of any escrow account, letter of credit, bond, or other financial assurance approved by the Commission as set forth in Rule 2.10 .; notice of which must be filed with the Commission prior to the effective date of such termination or transfer;5. Cancellation, revocation, suspension, or termination of the Developer's activity or authority to do business in the State of Colorado; and6. Any material pending legal proceeding filed against the Developer in connection with the Subdivision affecting the Developer's ability:a. To convey marketable title of the registered Subdivision or any interest therein, orb. To perform the Developer's obligations in connection with the registered Subdivision.B. Notification under this Rule must be provided on a form approved by the Commission. The Developer will have a period of ten (10) Days after receipt of notice to take such action as may be required by the Commission in connection with any filings made under this Rule.C. Within ten (10) Days after receipt of a written request from the Commission, a Developer will have the duty to provide to the Commission copies of all documents then in use with regard to the Subdivision.38 CR 01, January 10, 2015, effective 1/30/201544 CR 21, November 10, 2021, effective 11/30/2021