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Colorado Revised Statutes Title 11. Financial Institutions § 11-53-210. Affirmative defenses

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) It shall be an affirmative defense in any complaint, information, or indictment, or to any writ or proceeding brought under this article alleging a violation of section 11-53-103 based solely on the failure in an individual case to make physical delivery within the applicable time period under section 11-53-102(5) or 11-53-105(1)(b) if:

(a) Failure to make physical delivery was due solely to factors beyond the control of the seller, the seller's officers, directors, partners, agents, servants, or employees, any person occupying a similar status or performing a similar function to the seller, or any person who directly or indirectly controls or is controlled by the seller, the seller's affiliates, subsidiaries, or successors; and

(b) Physical delivery was completed within a reasonable time under the applicable circumstances.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 11. Financial Institutions § 11-53-210. Affirmative defenses - last updated January 01, 2025 | https://codes.findlaw.com/co/title-11-financial-institutions/co-rev-st-sect-11-53-210/

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