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CO HB1026
Bill
Status
3/11/2021
Primary Sponsor
Mark Baisley
Click for details
AI Summary
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Defines "protected series" as an arrangement established by a foreign entity where the series' assets are shielded from claims against the foreign entity and vice versa.
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Authorizes foreign series entities doing business in Colorado to file a statement with the secretary of state listing the name and principal place of business of any protected series.
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Grants protected series the same rights and privileges as functionally equivalent domestic entities while subjecting them to the same duties, restrictions, penalties, and liabilities.
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Makes foreign series entities liable for debts and obligations of both the parent entity and its protected series arising from Colorado transactions or relationships.
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Takes effect 90 days after final adjournment of the general assembly, subject to a potential referendum petition requiring approval by voters at the November 2022 general election.
Legislative Description
Allow Foreign Protected Series Do Business In Colorado
Last Action
House Committee on Business Affairs & Labor Postpone Indefinitely
3/11/2021