CO HB1094

Allows developers to enter into binding purchase contracts and accept earnest money deposits immediately upon Real Estate Commission approval of a subdivision registration.

Permits developers to receive earnest money deposits from accredited investors and use the funds toward subdivision development if the purchase contract or written disclosure clearly specifies to whom funds will be delivered, when delivery occurs, how funds will be used, and any restrictions on use.

Exempts developers from posting a bond or other security when receiving earnest money deposits from accredited investors under the conditions specified in the bill.

Defines "accredited investor" using the Securities and Exchange Commission's Rule 501 of Regulation D (17 CFR 230.501(a)).

Applies only to time share estates as defined in Colorado Revised Statutes section 38-33-110(5).