C.R.S. § 44-30-519

(1) Any person, or anyone who has an ownership interest of five percent or more in the person: (a) Whose application has been denied by the commission may not reapply for licensure until at least one year has elapsed from the date of denial; (b) Who has been denied a license for a second time may not reapply until at least three years have passed since the date of the second denial.