Colorado Revised Statutes Title 11. Financial Institutions § 11-51-903. Interests in local government investment pool trust fund

(a) The interest of a participating local government in a local government investment pool trust fund is a “security”, as defined by section 11-51-201(17); and

(b) The solicitation of a local government to participate in a local government investment pool trust fund constitutes an “offer” to sell a security, as defined by section 11-51-201(13)(c), by the trust fund to the local government, and the consummation of an agreement to participate in a local government investment pool trust fund constitutes a “sale” of a security, as defined by section 11-51-201(13)(a), by the trust fund to the local government.