h_fin_2016a_2016-01-20t13:32:44z3 Hearing Summary

Date: 01/20/2016

01:52 PM -- HB16-1049



Representative Lee introduced House Bill 16-1049. The bill modifies the definition of the type of institution that must be used to set up an escrow account for holding the proceeds of a sale of intrastate securities to be a "depository institution" rather than a specific type of financial institution. It also allows the escrow account to be terminated and its proceeds to be distributed when the minimum offering amount has been raised rather than the maximum amount.



01:55 PM -- Ms. Lillian Alviz, representing the Colorado Division of Securities in the Department of Regulatory Affairs, came to table in support of the bill.



01:58 PM -- Mr. Herrick Lidstone, representing himself, came to the table in support of the bill.



02:06 PM -- Ms. Micki Hackenberger, representing the Colorado Technology Association, came to the table to support the bill.