Raymond Lee Organization, Inc. v. Division of Securities

This is on certiorari to the Colorado Court of Appeals to review the decision under the same title to be found in 36 Colo. App. 417, 543 P.2d 75 (1975). The petitioner (The Raymond Lee Organization, Inc.) solicited inventors to enter into contracts, which were of three types. The Colorado Securities Commissioner determined that each type of contract was an “investment contract” and, as such, was a “security,” within the scope of the definition of the Colorado Securities Act, section 11-51-102(12), C.R.S. 1973. He issued a cease and desist order directing the petitioner to refrain from the…