Colorado § 24-82-703 - Seller.
Full text of Colorado Colorado Revised Statutes § 24-82-703 — Seller., with citation guidance and answers to common questions.
§ 24-82-703. Seller.
(1) The seller under any additional financed purchase of an asset or certificate of participation agreement entered into by the director pursuant to the provisions of this part 7 shall be any for-profit or nonprofit corporation, trust, or commercial bank as trustee.
(2) On and after August 11, 2010:
(a) The director is authorized to execute on behalf of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, any documents related to any additional financed purchase of an asset or certificate of participation agreement for which said nonprofit corporation was the seller pursuant to this part 7;
(b) The director is authorized to expend moneys of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, as is necessary and appropriate to wind up the affairs of the nonprofit corporation. After receiving written notification from the director that the affairs of the nonprofit corporation have been concluded, the state treasurer shall transfer the remaining balance of any account in the state treasury containing moneys of the nonprofit corporation to the general fund.
(c) The state treasurer is authorized to accept on behalf of the nonprofit corporation abolished by Senate Bill 10-122, enacted in 2010, any revenues to which the nonprofit corporation would otherwise be legally entitled. Any revenues so received by the state treasurer shall be credited to the general fund.
Source: L. 87: Entire part added, p. 1117, § 1, effective June 20. L. 93: Entire section amended, p. 2032, § 2, effective June 9. L. 2010: Entire section amended, (SB 10-122), ch. 64, p. 225, § 1, effective August 11. L. 2021: (1) and (2)(a) amended, (HB 21-1316), ch. 325, p. 2035, § 50, effective July 1.
Frequently Asked Questions About Colorado § 24-82-703
What does Colorado Revised Statutes § 24-82-703 cover?
Section 24-82-703 ("Seller.") 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 § 24-82-703?
A common citation format is "Colorado Revised Statutes § 24-82-703" (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 § 24-82-703 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.