CO Code § 38-13-605 (2021)
2021 Colorado Code|Title 38 - Property - Real and Personal|Article 13 - Revised Uniform Unclaimed Property Act|Part 6 - Taking Custody of Property by Administrator|§ 38-13-605. Recovery of Property by Holder From Administrator

  A holder that pays money to the administrator under this article 13 may file a claim for reimbursement from the administrator of the amount paid if the holder:   Paid the money in error; or    After paying the money to the administrator, paid the money to a person the holder reasonably believed to be entitled to the money.       If a claim for reimbursement under subsection (1) of this section is made for a payment made on a negotiable instrument, including a traveler's check, money order, or similar instrument, the holder must submit proof that the instrument was presented and that payment was made to a person the holder reasonably believed to be entitled to payment. The holder may claim reimbursement even if the payment was made to a person whose claim was made after expiration of a period of limitation on the owner's right to receive or recover property, whether specified by contract, statute, or court order.    If a holder is reimbursed by the administrator under subsection (1)(b) of this section, the holder may also recover from the administrator income or gain under section 38-13-606 that would have been paid to the owner if the money had been claimed from the administrator by the owner to the extent the income or gain was paid by the holder to the owner.      A holder that delivers property other than money to the administrator under this article 13 may file a claim for return of the property from the administrator if:   The holder delivered the property in error; or    The apparent owner has claimed the property from the holder.       If a claim for return of property under subsection (4)(a) of this section is made, the holder shall include with the claim evidence sufficient to establish that the apparent owner has claimed the property from the holder or that the property was delivered by the holder to the administrator in error.       The administrator may determine that an affidavit submitted by a holder is evidence sufficient to establish that the holder is entitled to reimbursement or to recover property under this section.    A holder is not required to pay a fee or other charge for reimbursement or return of property under this section.    Not later than ninety days after a claim is filed under subsection (1) or (4) of this section, the administrator shall allow or deny the claim and give the claimant notice of the decision in a record. If the administrator does not take action on a claim during the ninety-day period, the claim is deemed denied.    The claimant may initiate a proceeding under the “State Administrative Procedure Act”, article 4 of title 24, for review of the administrator's decision or the deemed denial under subsection (7) of this section not later than:   Thirty days following receipt of the notice of the administrator's decision; or    One hundred twenty days following the filing of a claim under subsection (1) or (4) of this section in the case of a deemed denial under subsection (7) of this section.         History. Source: L. 2019: Entire article R&RE,(SB 19-088), ch. 110, p. 432, § 1, effective July 1, 2020.