CO SB133

Creates the "Colorado Artist Company Act" allowing formation of a new type of limited liability company with a stated artistic mission, where artists must own at least 51% of voting securities at all times

Requires the Colorado Secretary of State to develop and publish a long-form articles template by July 1, 2027, with check-box options for ownership structure, governance, intellectual property treatment, and tax elections

Establishes automatic reversionary rights where artistic work assigned or licensed to an artist company reverts to the creating artist-member upon dissolution, protecting artists' intellectual property from creditors and non-artist investors

Allows artist companies to elect "public benefit artist company" status with additional requirements including annual statements on mission fulfillment and duties to balance pecuniary interests with public benefits and artistic mission

Permits separation of economic rights from governance rights, allowing non-artist investors to receive financial returns without voting control, and provides flexible capital acceptance including grants, program-related investments, and in-kind intellectual property contributions