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(a) The Town of Telluride hereby imposes a requirement as part of any initial issuance of or renewal for a short term rental unit business license that the following information to be provided to the Town of Telluride in order to receive the short-term rental unit business license:

Full disclosure of the ownership interest or financial interest related to a short term rental unit. If ownership of the short term rental unit is held in any form other than by a natural person(s), the Town hereby requires the full disclosure of the ownership interests in any short term rental unit along with full disclosure of any financial interests in the short term rental unit or in an entity with a financial interest in such short term rental unit, which shall include social security numbers for natural persons, or employer identification numbers (EIN) or taxpayer identification number (TIN) for any entity that is not a natural person, relevant contact information and mailing and physical addresses and any such other information as may be requested by the Town.

“Financial interest,” for the purposes of this Article, is defined as: any legal or beneficial ownership as well as any arrangement that provides for receipt of or accounting to any portion of the revenues generated by the short term rental unit.

“Person,” for the purposes of this Article, is defined as: a natural person, a limited liability company or single member limited liability company, estate, an S corporation, nonprofit corporation or other recognized corporate entity, a partnership, a personal or family trust, association, joint venture or other organization whether it is an incorporated or unincorporated organizational entity, which is capable of holding title to real property in the State of Colorado.

(b) Any person that is issued a short term rental unit business license is under an affirmative and continuing duty to notify the Town if there is a change of ownership of an entity holding such license from the representations made to the Town in the issuance or renewal of the short term rental unit business license. The required notice to the Town as to the change of ownership in the entity shall contain all of the details as to the financial interest in the entity that was originally required in order to be issued a short term rental unit business license.

(c) Failure by an applicant to provide the required financial interest information for a short term rental unit business license shall render the applicant ineligible to receive a short term rental unit business license. In addition, any false, misleading or fraudulent statements made by an applicant for a short term rental unit business license shall subject the applicant to the penalty provisions of Section 6-1-130(b) of this Code. (Ord. 1544 §1, 2021; Ord. 1578 §1 (Exh. A), 2023)