- About Us
- DORA Home
Section 11-51-304(6), C.R.S. contains information regarding Registration by Limited Offering Qualification and is filed on the Form RL. This form of registration is a Colorado specific method and would not be recognized by any other state. Requirements for this type of filing are as follows:
Financial statements filed with this type of offering must be "Reviewed" but need not be "Audited" and must be prepared according to Generally Accepted Accounting Principals (G.A.A.P.). The firm’s financial statements should be "audited" annually.
The Division usually requires that an escrow account be established with a depository institution and the funds may not be turned over to the company until a sufficient minimum amount has been raised. (See FORMS below for an axample of an Escrow/Impound Agreement.)
The Division's review period for this type of application is 14 days and the total registration process usually takes approximately 6-8 weeks.