Colorado § 11-51-503 - Unlawful representation concerning a license, registration, or exemption.
Full text of Colorado Colorado Revised Statutes § 11-51-503 — Unlawful representation concerning a license, registration, or exemption., with citation guidance and answers to common questions.
§ 11-51-503. Unlawful representation concerning a license, registration, or exemption.
(1) Neither the fact that an application for a license or a registration statement has been filed nor the fact that a person is licensed or a security is registered constitutes a finding by the securities commissioner that any document filed under this article is true, complete, and not misleading. No such fact, nor the fact that an exemption or exception is available for a person, security, or transaction, means that the securities commissioner has passed in any way upon the merits or qualifications of, or has recommended or given approval to, any person, security, or transaction.
(2) It is unlawful to make, or cause to be made, to any prospective purchaser or to any existing or prospective customer or client any representation inconsistent with subsection (1) of this section.
Source: L. 90: Entire article R&RE, p. 729, § 1, effective July 1.
Editor's note: This section is similar to former § 11-51-116 as it existed prior to 1990.
Cross references: For the applicability of this section, see § 11-51-102 (1) and (2).
ANNOTATION
Law reviews. For article, "Criminal Prosecutions under the Colorado Securities Act", see 47 U. Colo. L. Rev. 233 (1976).
PART 6
ENFORCEMENT AND CIVIL LIABILITY
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 11-51-503
What does Colorado Revised Statutes § 11-51-503 cover?
Section 11-51-503 ("Unlawful representation concerning a license, registration, or exemption.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 11-51-503?
A common citation format is "Colorado Revised Statutes § 11-51-503" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 11-51-503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.