1 Colo. Code Regs. § 205-2, Regulation 44-20-420(3)(a)
Current through Register Vol. 47, No. 22, November 25, 2024
Regulation Regulation 44-20-420(3)(a)"Material Misstatement in an Application for a License" means
(a) either a written statement, a responsive mark (for example, a mark in a checkbox), or, an omission, (b) for which the applicant is responsible, (c) that is false or misleading, and (d) that is made in support of an application either (1) by a natural person who has an ownership, financial, or equity interest in an applicant for a class of license other than a salesperson's license (except for a natural person whose sole relationship to the applicant is as a stockholder of a corporation that is subject to the reporting requirements of the "Securities Exchange Act of 1934," as amended, 15 U.S.C. § 78a, et seq.), or, (2) by a natural person who has the ability to control or to exercise significant financial or operational influence over an applicant for a class of license other than a salesperson's license. For purposes of this rule, "material" means reasonably significant enough to affect the outcome of the Board's review of an application.1 CCR 205-2, Regulation 44-20-420(3)(a)
43 CR 24, December 25, 2020, effective 11/17/202044 CR 24, December 25, 2021, effective 1/14/202245 CR 03, February 10, 2022, effective 3/17/202245 CR 14, July 25, 2022, effective 8/15/2022