Amendments for SB25-176
Senate Journal, February 28
After consideration on the merits, the Committee recommends that SB25-176 be amended
as follows, and as so amended, be referred to the Committee on Appropriations with
favorable recommendation.
Amend printed bill, page 4, after line 16 insert:
"SECTION 8. In Colorado Revised Statutes, 35-36-102, add (24.5)
as follows:
35-36-102. Definitions. As used in this article 36, unless the context
otherwise requires:
(24.5) "PATRONAGE INTEREST" MEANS SHARES OR MEMBERSHIP
INTERESTS, PARTNERSHIP INTERESTS, OR OTHER OWNERSHIP INTERESTS IN A
LICENSEE THAT IS A COOPERATIVE ASSOCIATION, WHICH SHARES OR INTERESTS
ARE ALLOCATED AND DISTRIBUTED TO THE PRODUCER IN PROPORTION TO THAT
PRODUCER'S PATRONAGE OF THE COOPERATIVE ASSOCIATION.
SECTION 9. In Colorado Revised Statutes, 35-36-216, add (1)(c)(III)
as follows:
35-36-216. Bonds or irrevocable letters of credit - exemptions.
(1) (c) (III) A PRODUCER OR OWNER IS NOT ELIGIBLE FOR
REIMBURSEMENT FROM THE BOND OR THE IRREVOCABLE LETTER OF CREDIT FOR
A CLAIM SUBMITTED PURSUANT TO THIS SECTION IF, AT THE TIME THE CLAIM IS
SUBMITTED, THE PRODUCER OR OWNER IS:
(A) THE OWNER OF AT LEAST FIVE PERCENT OF THE VOTING SHARES,
EXCLUDING PATRONAGE INTERESTS, MEMBERSHIP INTERESTS, PARTNERSHIP
INTERESTS, OR PUBLICLY TRADED SHARES OF THE LICENSEE WHOSE FAILURE IS
THE BASIS OF THE CLAIM; OR
(B) THE OWNER OF AT LEAST FIVE PERCENT OF THE VOTING SHARES,
EXCLUDING PATRONAGE INTERESTS, MEMBERSHIP INTERESTS, PARTNERSHIP
INTERESTS, OR PUBLICLY TRADED SHARES OF THE PARENT CORPORATION OF THE
LICENSEE WHOSE FAILURE IS THE BASIS OF THE CLAIM.
SECTION 10. In Colorado Revised Statutes, 35-36-304, add (1)(c)(III)
as follows:
35-36-304. Bonds and irrevocable letters of credit - exemptions.
(1) (c) (III) A PRODUCER, OWNER, SMALL-VOLUME DEALER, OR OTHER
DEALER IS NOT ELIGIBLE FOR REIMBURSEMENT FROM THE BOND OR THE
IRREVOCABLE LETTER OF CREDIT FOR A CLAIM SUBMITTED PURSUANT TO THIS
SECTION IF, AT THE TIME THE CLAIM IS SUBMITTED, THE PRODUCER, OWNER,
SMALL-VOLUME, DEALER OR OTHER DEALER IS:
(A) THE OWNER OF AT LEAST FIVE PERCENT OF THE VOTING SHARES,
EXCLUDING PATRONAGE INTERESTS, MEMBERSHIP INTERESTS, PARTNERSHIP
INTERESTS, OR PUBLICLY TRADED SHARES OF THE LICENSEE WHOSE FAILURE IS
THE BASIS OF THE CLAIM; OR
(B) THE OWNER OF AT LEAST FIVE PERCENT OF THE VOTING SHARES,
EXCLUDING PATRONAGE INTERESTS, MEMBERSHIP INTERESTS, PARTNERSHIP
INTERESTS, OR PUBLICLY TRADED SHARES OF THE PARENT CORPORATION OF THE
LICENSEE WHOSE FAILURE IS THE BASIS OF THE CLAIM.".
Renumber succeeding section accordingly.
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