SB133

Colorado Artist Company Act establishes rules for artist companies, limited liability companies with artistic missions.

The Colorado Artist Company Act creates the "Colorado Artist Company Act," authorizing the formation of limited liability companies with artistic missions. These companies, known as artist companies, are governed by state law applicable to limited liability companies, with specific provisions outlined in the act. Artist companies must state their artistic mission and be owned by artists, who must retain at least 51% of voting securities. Members can assign or exclusively license intellectual property to the company as capital contributions.