HB 1427: Uniform Antitrust Pre-Merger Notification Update

The act updates the 'Uniform Antitrust Pre-Merger Notification Act' (act) with amendments to the act adopted by the Uniform Law Commission by:Defining 'Uniform Antitrust Pre-Merger Notification Act' for purposes of the act;Requiring the filing of a Hart-Scott-Rodino form with the Colorado attorney general (AG) within one business day after filing with the federal government (rather than contemporaneously);Requiring the AG to provide a secure means to accept and store materials they receive under the act;When receiving information from the attorney general of another state that has also enacted the act, requiring the AG to provide assurances to the other attorney general that the AG will maintain the confidentiality of the documents or information they receive;Requiring the AG to destroy or return the materials submitted to them within 120 days after the close of the transaction subject to disclosure under the act or the conclusion of any legal proceeding directly related to the transaction subject to disclosure under the act, whichever is later; andRequiring the AG to provide written notice and a 3-day period to cure before imposing civil penalties against a person for noncompliance with the Hart-Scott-Rodino form filing requirements.(Note: This summary applies to this bill as enacted.)