Colorado High Court:  Promissory Note A Security Under Colorado Securities Law

(September 15, 2020, 1:49 PM EDT) -- DENVER — Applying U.S. Supreme Court precedent to conclude that the family resemblance test applies for determining whether a promissory note is a security for purposes of the Colorado Securities Act (CSA), the Colorado Supreme Court on Sept. 14 ruled that a state appellate panel did not err in concluding that the note, which was issued as part of an alleged real estate investment scheme, was a security under the statute (Steven Curtis Thompson v. The People of the State of Colorado, No. 18SC543, Colo. Sup., 2020 Colo. LEXIS 812)....

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