reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 6 - TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR (§§ 38-13-601 — 38-13-609) › Section 38-13-607 - Administrator's options as to custody

(1)
The administrator may decline to take custody of property reported under section
38-13-401
if the administrator determines that:
(a)
The property has a value less than the estimated expenses of notice and sale of the property; or
(b)
Taking custody of the property would be unlawful.
(2)
A holder may pay or deliver property to the administrator before the property is presumed abandoned under this article 13 if the holder:
(a)
Sends the apparent owner of the property the notice or notices required by section
38-13-501
and provides the administrator evidence of the holder's compliance with this subsection (2)(a);
(b)
Includes with the payment or delivery a report regarding the property conforming to section
38-13-402
; and
(c)
First obtains the administrator's consent in a record to accept payment or delivery.
(3)
A holder's request for the administrator's consent under subsection (2)(c) of this section must be in a record. If the administrator fails to respond to the request not later than thirty days after receipt of the request, the administrator is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith.
(4)
On payment or delivery of property under subsection (2) of this section, the property is presumed abandoned.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 434, p. 434, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 6 - TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR (§§ 38-13-601 — 38-13-609) › Section 38-13-608 - Disposition of property having no substantial value - immunity from liability

(1)
If the administrator takes custody of property delivered under this article 13 and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the administrator may return the property to the holder or destroy or otherwise dispose of the property.
(2)
An action or proceeding shall not be commenced against the state, an agency of the state, the administrator, another officer, employee, or agent of the state, or a holder for or because of an act of the administrator under this section, except for intentional misconduct or malfeasance.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 434, p. 434, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 6 - TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR (§§ 38-13-601 — 38-13-609) › Section 38-13-609 - Periods of limitation and repose

(1)
Expiration, before, on, or after July 1, 2020, of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute, or court order does not prevent the property from being presumed abandoned or affect the duty of a holder to file a report or pay or deliver property to the administrator under this article 13.
(2)
The administrator shall not commence an action or proceeding to enforce this article 13 with respect to the reporting, payment, or delivery of property more than five years after the holder filed a nonfraudulent report with the administrator under section
38-13-401
. The parties may agree in a record to extend the limitation in this subsection (2).
(3)
The administrator shall not commence an action, proceeding, or examination with respect to a duty of a holder under this article 13 more than ten years after the duty arose.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 435, p. 435, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 7 - SALE OF PROPERTY BY ADMINISTRATOR (§§ 38-13-701 — 38-13-705) › Section 38-13-701 - Public sale of property

(1)
Subject to section
38-13-702
, not earlier than three years after receipt of property that is presumed abandoned, the administrator may sell the property.
(2)
Before selling property under subsection (1) of this section, the administrator shall give notice to the public of:
(a)
The date of sale; and
(b)
A reasonable description of the property.
(3)
A sale under subsection (1) of this section must be to the highest bidder:
(a)
At public sale at a location in this state that the administrator determines to be the most favorable market for the property; or
(b)
On the internet; or
(c)
On another forum the administrator determines is likely to yield the highest net proceeds of sale.
(4)
The administrator may decline the highest bid at a sale under subsection (1) of this section and reoffer the property for sale if the administrator determines the highest bid is insufficient.
(5)
If a sale held under this section is to be conducted other than on the internet, the administrator must publish at least one notice of the sale at least three weeks but not more than five weeks before the sale in a newspaper of general circulation in the county in which the property is sold.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 435, p. 435, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 7 - SALE OF PROPERTY BY ADMINISTRATOR (§§ 38-13-701 — 38-13-705) › Section 38-13-702 - Disposal of securities

(1)
The administrator shall not sell or otherwise liquidate a security until three years after the administrator receives the security and gives the apparent owner notice under section
38-13-503
that the administrator holds the security. This subsection (1) applies to any security presumed abandoned under section
38-13-208
with a commencement date, reported under section
38-13-402
, that is on or after July 1, 2014.
(2)
The administrator shall not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially reasonable method.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 436, p. 436, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 7 - SALE OF PROPERTY BY ADMINISTRATOR (§§ 38-13-701 — 38-13-705) › Section 38-13-703 - Recovery of securities or value by owner

(1)
A person that makes a valid claim under this article 13 of ownership of a security is entitled to receive:
(a)
The security the holder delivered to the administrator, if it is in the custody of the administrator, plus dividends, interest, and other increments on the security up to the time the administrator delivers the security to the person; or
(b)
The net proceeds of the sale of the security, plus dividends, interest, and other increments on the security up to the time the security was sold.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 436, p. 436, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 7 - SALE OF PROPERTY BY ADMINISTRATOR (§§ 38-13-701 — 38-13-705) › Section 38-13-704 - Purchaser owns property after sale

A purchaser of property at a sale conducted by the administrator under this article 13 takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The administrator shall execute documents necessary to complete the transfer of ownership to the purchaser.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 436, p. 436, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 7 - SALE OF PROPERTY BY ADMINISTRATOR (§§ 38-13-701 — 38-13-705) › Section 38-13-705 - Military medal or decoration

(1)
The administrator shall not sell a medal or decoration awarded for military service in the armed forces of the United States.
(2)
The administrator, with the consent of the respective organization under subsection (2)(a) of this section, agency under subsection (2)(c) of this section, or entity under subsection (2)(d) of this section, may deliver a medal or decoration described in subsection (1) of this section to be held in custody for the owner, to:
(a)
A military veterans' organization qualified under section 501 (c)(19) of the federal "Internal Revenue Code of 1986", as amended,
26 U.S.C. sec. 501 (c)(19)
;
(b)
The Colorado veterans community living center at Homelake;
(c)
The agency that awarded the medal or decoration; or
(d)
A governmental entity.
(3)
On delivery under subsection (2) of this section, the administrator is not responsible for safekeeping of the medal or decoration.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 436, p. 436, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 8 - ADMINISTRATION OF PROPERTY (§§ 38-13-801 — 38-13-803) › Section 38-13-802 - Administrator to retain records of property

(1)
The administrator shall:
(a)
Record and retain the name and last-known address of each person shown on a report filed under section
38-13-401
to be the apparent owner of the property delivered to the administrator;
(b)
Record and retain the name and last-known address of each insured or annuitant and beneficiary shown on the report;
(c)
With respect to each policy of insurance or annuity contract listed in the report of an insurance company, record and retain the policy or account number, the name of the company, and the amount due or paid; and
(d)
With respect to each apparent owner listed in the report, record and retain the name of the holder who filed the report and the amount due or paid.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 440, p. 440, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 8 - ADMINISTRATION OF PROPERTY (§§ 38-13-801 — 38-13-803) › Section 38-13-803 - Administrator holds property as custodian for owner

Property received by the administrator under this article 13 is held in custody for the benefit of the owner and is not owned by the state.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 440, p. 440, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-901 - Claim of another state to recover property

(1)
If the administrator knows that property held by the administrator under this article 13 is subject to a superior claim of another state, the administrator shall:
(a)
Report and pay or deliver the property to the other state; or
(b)
Return the property to the holder so that the holder may pay or deliver the property to the other state.
(2)
The administrator is not required to enter into an agreement to transfer property to the other state under subsection (1) of this section.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 440, p. 440, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-902 - When property subject to recovery by another state

(1)
Property held by the administrator under this article 13 is subject to the right of another state to take custody of the property if:
(a)
The property was paid or delivered to the administrator because the records of the holder did not reflect a last-known address in the other state of the apparent owner and:
(I)
The other state establishes that the last-known address of the apparent owner or other person entitled to the property was in the other state; or
(II)
Under the law of the other state, the property has become subject to a claim of abandonment by the other state;
(b)
The records of the holder did not accurately identify the owner of the property, the last-known address of the owner was in another state, and, under the law of the other state, the property has become subject to a claim of abandonment by the other state;
(c)
The property was subject to the custody of the administrator of this state under section
38-13-305
and, under the law of the state of domicile of the holder, the property has become subject to a claim of abandonment by the state of domicile of the holder; or
(d)
The property:
(I)
Is a sum payable on a traveler's check, money order, or similar instrument that was purchased in the other state and delivered to the administrator under section
38-13-306
; and
(II)
Under the law of the other state, has become subject to a claim of abandonment by the other state.
(2)
A claim by another state to recover property under this section must be presented in a form prescribed by the administrator unless the administrator waives presentation of the form.
(3)
The administrator shall decide a claim under this section not later than ninety days after it is presented. If the administrator determines that the other state is entitled under subsection (1) of this section to custody of the property, the administrator shall allow the claim and pay or deliver the property to the other state.
(4)
The administrator may require another state, before recovering property under this section, to agree to indemnify this state and its officers and employees against any liability on a claim to the property.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 440, p. 440, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-902.1 - Claims offset for child support

(1)
Before paying a claim pursuant to section
38-13-905
in an amount exceeding six hundred dollars, the administrator shall offset against the amount of the claim the claimant's obligations to pay current child support, child support debt, retroactive child support, child support arrearages, child support costs, or child support when combined with maintenance. The administrator may enter into a memorandum of understanding with the department of human services to implement this section and section
26-13-118.5
.
(2)
(a)
If a claimant owes current child support, child support debt, retroactive child support, child support arrearages, child support costs, or child support when combined with maintenance, and also owes restitution or fines, fees, costs, or surcharges as described in section
38-13-902.2
, delinquent state taxes, penalties, or interest as described in section
38-13-902.3
, or both, the unclaimed property offset against the current child support, child support debt, retroactive child support, child support arrearages, child support costs, or child support when combined with maintenance takes priority and shall be applied first.
(b)
If a claimant owes both restitution or fines, fees, costs, or surcharges and delinquent state taxes, penalties, or interest, after payment in accordance with subsection (2)(a) of this section, if applicable, any remaining unclaimed property shall be applied first toward the payment of the outstanding restitution or fines, fees, costs, or surcharges and processed in accordance with section
38-13-902.2
and then applied to the payment of delinquent state taxes, penalties, or interest and processed in accordance with section
38-13-902.3
.
(c)
If a claimant owes restitution or fines, fees, costs, or surcharges or delinquent state taxes, penalties, or interest, after payment in accordance with subsection (2)(a) of this section, if applicable, any remaining unclaimed property shall be applied toward the payment of the outstanding restitution or fines, fees, costs, or surcharges and processed in accordance with section
38-13-902.2
or toward the delinquent state taxes, penalties, or interest and processed in accordance with section
38-13-902.3
, whichever is applicable.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 441, p. 441, § 1, effective 7/1/2020.
This section is similar to former § 38-13-117.3 as it existed prior to 2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-902.2 - Claims offset for judicial restitution, fines, fees, costs, or surcharges

(1)
Before paying a claim pursuant to section
38-13-905
in an amount exceeding six hundred dollars, the administrator shall offset against the amount of the claim the claimant's outstanding court fines, fees, costs, or surcharges or restitution. The administrator may enter into a memorandum of understanding with the judicial department to implement this section and sections
16-11-101.6 (6)
and
16-18.5-106.7
.
(2)
If a claimant owes fines, fees, costs, or surcharges or restitution as described in this section and also owes current child support, child support debt, retroactive child support, child support arrearages, child support costs, or child support when combined with maintenance as described in section
38-13-902.1
, delinquent state taxes, penalties, or interest as described in section
38-13-902.3
, or both, the unclaimed property offsets shall be applied in accordance with the priority set forth in section
38-13-902.1 (2)
.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 442, p. 442, § 1, effective 7/1/2020.
This section is similar to former § 38-13-117.5 as it existed prior to 2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-902.3 - Claims offset for state tax delinquencies

(1)
Before paying a claim pursuant to section
38-13-905
in an amount exceeding six hundred dollars, the administrator shall compare the social security number or federal employer identification number of the claimant with the numbers certified by the department of revenue for the purpose of the unclaimed property offset as provided in section
39-21-121
.
(2)
If the social security number or federal employer identification number of a claimant appears among the numbers certified by the department of revenue pursuant to section
39-21-121
, the administrator shall suspend the payment of the claim until the requirements of section
39-21-121
are met. If, after consulting with the department, the administrator determines that the claimant is obligated to pay the amounts certified under section
39-21-121
, the administrator shall withhold from the amount of the unclaimed property paid to the claimant an amount equal to the amount of delinquent state taxes, penalties, or interest. If the amount of the unclaimed property is less than or equal to the amount of delinquent state taxes, penalties, or interest, the administrator shall withhold the entire amount of the unclaimed property. The administrator shall transmit any unclaimed property so withheld to the department for disbursement as directed in section
39-21-121
.
(3)
If a claimant owes delinquent state taxes, penalties, or interest as described in this section and also owes current child support, child support debt, retroactive child support, child support arrearages, child support costs, or child support when combined with maintenance as described in section
38-13-902.1
, restitution or fines, fees, costs, or surcharges as described in section
38-13-902.2
, or both, the unclaimed property offset shall be applied in accordance with the priority set forth in section
38-13-902.1 (2)
.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 442, p. 442, § 1, effective 7/1/2020.
This section is similar to former § 38-13-117.7 as it existed prior to 2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-902.4 - Claim of the state or governmental agency

At any time after property has been paid or delivered to the administrator under this article 13, if the administrator determines that the state or a state governmental agency owns the property, the administrator may transfer the property to an operating account of the state or the agency.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 443, p. 443, § 1, effective 7/1/2020.
This section is similar to former § 38-13-118.5 as it existed prior to 2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-903 - Claim for property by person claiming to be owner

(1)
A person claiming to be the owner of property held by the administrator under this article 13 may file a claim for the property on a form prescribed by the administrator.
(2)
The administrator may waive the requirement in subsection (1) of this section and may pay or deliver property directly to a person if:
(a)
The person receiving the property or payment is shown to be the apparent owner included on a report filed under section
38-13-401
; and
(b)
The administrator reasonably believes the person is entitled to receive the property or payment.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 443, p. 443, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-904 - When administrator must honor claim for property

(1)
The administrator shall pay or deliver property to a claimant under section
38-13-903
if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property.
(2)
Not later than ninety days after a claim is filed under section
38-13-903
, the administrator shall allow or deny the claim and give the claimant notice of the decision in a record. If the claim is denied:
(a)
The administrator shall inform the claimant of the reason for the denial and specify what additional evidence, if any, is required for the claim to be allowed;
(b)
The claimant may file an amended claim with the administrator or commence an action under section
38-13-906
; and
(c)
The administrator shall consider an amended claim filed under subsection (2)(b) of this section as an initial claim.
(3)
If the administrator does not take action on a claim during the ninety-day period following the filing of a claim under section
38-13-903 (1)
, the claim is deemed denied.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 443, p. 443, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-905 - Allowance of claim for property

(1)
Not later than thirty days after a claim is allowed under section
38-13-904 (2)
or, in the case of a security, not later than forty-five days after the claim is allowed under section
39-13-904 (2)
, the administrator shall pay or deliver to the owner the property or pay to the owner the net proceeds of a sale of the property, together with income or gain to which the owner is entitled under section
38-13-606
.
(2)
Before delivery or payment to an owner under subsection (1) of this section of property or payment to the owner of net proceeds of a sale of the property, the administrator first shall apply the property or net proceeds in accordance with sections
38-13-902.2
to
38-13-902.4
. The administrator shall pay the amount to the appropriate state agency and notify the owner of the payment.
(3)
The administrator may make periodic inquiries of state agencies in the absence of a claim filed under section
38-13-903
to determine whether an apparent owner included in the unclaimed property records of this state has an enforceable debt described in sections
38-13-902.2
to
38-13-902.4
. The administrator first shall apply the property or net proceeds of a sale of property held by the administrator to a debt under sections
38-13-902.2
to
38-13-902.4
of an apparent owner that appears in the records of the administrator and deliver the amount to the appropriate state agency. The administrator shall notify the apparent owner of the payment.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 444, p. 444, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 9 - CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR (§§ 38-13-901 — 38-13-906) › Section 38-13-906 - Action by person whose claim is denied

Not later than one year after filing a claim with the administrator under section
38-13-903
, the claimant may commence an action against the administrator in the district court for the city and county of Denver to establish a claim that has been denied or deemed denied under section
38-13-904
. On final determination of the action, the court may, on application, award to the plaintiff their reasonable attorney's fees, costs, and expenses of litigation.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 444, p. 444, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1001 - Verified report of property

(1)
If a person does not file a report required by section
38-13-401
or the administrator believes that a person may have filed an inaccurate, incomplete, or false report, the administrator may require the person to file a verified report in a form prescribed by the administrator. The report must:
(a)
State whether the person is holding property reportable under this article 13;
(b)
Describe property not previously reported or about which the administrator has inquired;
(c)
Specifically identify property described under subsection (1)(b) of this section about which there is a dispute whether it is reportable under this article 13; and
(d)
State the amount or value of the property.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 445, p. 445, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1002 - Examination of records to determine compliance

(1)
The administrator, at reasonable times and on reasonable notice, may:
(a)
Examine the records of a person, including examination of appropriate records in the possession of an agent of the person under examination, if such records are reasonably necessary to determine whether the person has complied with this article 13;
(b)
Issue an administrative subpoena requiring the person or an agent of the person to make records available for examination; and
(c)
Bring an action seeking judicial enforcement of the subpoena.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 445, p. 445, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1003 - Rules for conducting examination

(1)
The administrator shall adopt rules governing procedures and standards for an examination under section
38-13-1002
, including rules for use of an estimation, extrapolation, and statistical sampling in conducting an examination.
(2)
An examination under section
38-13-1002
must be performed under rules adopted under subsection (1) of this section and with generally accepted examination practices and standards applicable to an unclaimed-property examination.
(3)
If a person subject to examination under section
38-13-1002
has filed the reports required by sections
38-13-401
and
38-13-1001
and has retained the records required by section
38-13-404
, the following rules apply:
(a)
The examination must include a review of the person's records;
(b)
The examination must not be based on an estimate unless the person expressly consents in a record to the use of an estimate; and
(c)
The person conducting the examination shall consider the evidence presented in good faith by the person in preparing the findings of the examination under section
38-13-1007
.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 445, p. 445, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1004 - Records obtained in examination

(1)
Records obtained and records, including work papers, compiled by the administrator in the course of conducting an examination under section
38-13-1002
:
(a)
Are subject to the confidentiality and security provisions of part 14 of this article 13 and are not public records;
(b)
May be used by the administrator in an action to collect property or otherwise enforce this article 13;
(c)
May be used in a joint examination conducted with another state, the United States, a foreign country or subordinate unit of a foreign country, or any other governmental entity if the governmental entity conducting the examination is legally bound to maintain the confidentiality and security of information obtained from a person subject to examination in a manner substantially equivalent to part 14 of this article 13;
(d)
Must be disclosed, on request, to the person that administers the unclaimed property law of another state for that state's use in circumstances equivalent to circumstances described in this part 10, if the other state is required to maintain the confidentiality and security of information obtained in a manner substantially equivalent to part 14 of this article 13;
(e)
Shall be produced by the administrator under an administrative or judicial subpoena or administrative or court order; and
(f)
Shall be produced by the administrator on request of the person subject to the examination in an administrative or judicial proceeding relating to the property.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 446, p. 446, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1005 - Evidence of unpaid debt or undischarged obligation

(1)
A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation.
(2)
A putative holder may establish by a preponderance of the evidence that there is no unpaid debt or undischarged obligation for a debt or obligation described in subsection (1) of this section or that the debt or obligation was not, or no longer is, a fixed and certain obligation of the putative holder.
(3)
A putative holder may overcome prima facie evidence under subsection (1) of this section by establishing by a preponderance of the evidence that a check, draft, or similar instrument was:
(a)
Issued as an unaccepted offer in settlement of an unliquidated amount;
(b)
Issued but later was replaced with another instrument because the earlier instrument was lost or contained an error that was corrected;
(c)
Issued to a party affiliated with the issuer;
(d)
Paid, satisfied, or discharged;
(e)
Issued in error;
(f)
Issued without consideration;
(g)
Issued but there was a failure of consideration;
(h)
Voided not later than ninety days after issuance for a valid business reason set forth in a contemporaneous record; or
(i)
Issued but not delivered to the third-party payee for a sufficient reason recorded within a reasonable time after issuance.
(4)
In asserting a defense under this section, a putative holder may present evidence of a course of dealing between the putative holder and the apparent owner or of custom and practice.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 446, p. 446, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1006 - Failure of person examined to retain records

If a person subject to examination under section
38-13-1002
does not retain the records required by section
38-13-404
, the administrator may determine the value of property due using a reasonable method of estimation based on all information available to the administrator, including extrapolation and use of statistical sampling when appropriate and necessary, consistent with examination procedures and standards adopted under section
38-13-1003 (1)
and in accordance with section
38-13-1003 (2)
.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 447, p. 447, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1007 - Report to person whose records were examined

(1)
At the conclusion of an examination under section
38-13-1002
, the administrator shall provide to the person whose records were examined a complete and unredacted examination report that specifies:
(a)
The work performed;
(b)
The property types reviewed;
(c)
The methodology of any estimation technique, extrapolation, or statistical sampling used in conducting the examination;
(d)
Each calculation showing the value of property determined to be due; and
(e)
The findings of the person conducting the examination.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 447, p. 447, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1008 - Complaint to administrator about conduct of person conducting examination

(1)
If a person subject to examination under section
38-13-1002
believes the person conducting the examination has made an unreasonable or unauthorized request or is not proceeding expeditiously to complete the examination, the person in a record may ask the administrator to intervene and take appropriate remedial action, including countermanding the request of the person conducting the examination, imposing a time limit for completion of the examination, or reassigning the examination to another person.
(2)
If a person in a record requests a conference with the administrator to present matters that are the basis of a request under subsection (1) of this section, the administrator shall hold the conference not later than thirty days after receiving the request. The administrator may hold the conference in person, by telephone, or by electronic means.
(3)
If a conference is held under subsection (2) of this section, not later than thirty days after the conference ends, the administrator shall provide a report in a record of the conference to the person that requested the conference.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 448, p. 448, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1010 - Limit on future employment

The administrator or an individual employed by the administrator who participates in, recommends, or approves the award of a contract under section
38-13-1009 (2)
on or after July 1, 2020, must not be employed by, contracted with, or compensated in any capacity by the contractor or an affiliate of the contractor for two years after the latest of participation in, recommendation of, or approval of the award or conclusion of the contract.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 449, p. 449, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 10 - VERIFIED REPORT OF PROPERTY - EXAMINATION OF RECORDS (§§ 38-13-1001 — 38-13-1011) › Section 38-13-1011 - Determination of liability for unreported reportable property

If the administrator determines from an examination conducted under section
38-13-1002
that a putative holder has failed or refused to pay or deliver property to the administrator that is reportable under this article 13, the administrator shall issue a determination of the putative holder's liability to pay or deliver and provide to the putative holder notice in a record of the determination.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 450, p. 450, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 11 - DETERMINATION OF LIABILITY - PUTATIVE HOLDER REMEDIES (§§ 38-13-1101 — 38-13-1104) › Section 38-13-1102 - Review of administrator's determination

(1)
A putative holder may seek relief from a determination under section
38-13-1011
or
38-13-1205
by:
(a)
Administrative review under section
38-13-1103
; or
(b)
Judicial review under section
38-13-1104
.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 451, p. 451, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 11 - DETERMINATION OF LIABILITY - PUTATIVE HOLDER REMEDIES (§§ 38-13-1101 — 38-13-1104) › Section 38-13-1103 - Administrative review

(1)
Not later than ninety days after receiving notice of the administrator's determination under section
38-13-1011
or that a civil penalty has been imposed under section
38-13-1205
, a putative holder or a holder may initiate a proceeding under the "State Administrative Procedure Act", article
4
of title
24
, for review of the administrator's determination.
(2)
A final decision in an administrative proceeding initiated under subsection (1) of this section is subject to judicial review by the district court for the city and county of Denver.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 451, p. 451, § 1, effective 7/1/2020.
2023 Colorado Revised Statutes › Title 38 - PROPERTY - REAL AND PERSONAL (§§ 38-1-101 — 38-53-110) › UNCLAIMED PROPERTY (§§ 38-13-101 — 38-13-1504) › Article 13 - REVISED UNIFORM UNCLAIMED PROPERTY ACT (§§ 38-13-101 — 38-13-1504) › Part 11 - DETERMINATION OF LIABILITY - PUTATIVE HOLDER REMEDIES (§§ 38-13-1101 — 38-13-1104) › Section 38-13-1104 - Judicial remedy

(1)
Not later than ninety days after receiving notice of the administrator's determination under section
38-13-1011
or that a civil penalty has been imposed under section
38-13-1205
, a putative holder or a holder may:
(a)
File an action against the administrator in the district court for the city and county of Denver, challenging all or part of the administrator's determination of liability or imposition of a civil penalty and seeking a declaration that the determination or imposition is unenforceable, in whole or in part; or
(b)
Pay the civil penalty or pay the amount or deliver the property the administrator determined must be paid or delivered to the administrator and, not later than six months after payment or delivery, file an action against the administrator in the district court for the city and county of Denver for a refund of all or part of the amount paid or return of all or part of the property delivered.
(2)
If a holder pays a civil penalty or a putative holder pays or delivers property determined by the administrator to be paid or delivered to the administrator at any time after the holder or putative holder files an action under subsection (1)(a) of this section, the court shall continue the action as if it had been filed originally as an action for a refund or return of property under subsection (1)(b) of this section.
(3)
On the final determination of an action filed under subsection (1) of this section, the court may, on application, award to the plaintiff their reasonable attorney fees, costs, and expenses of litigation.
(4)
A holder or putative holder that is the prevailing party in an action under subsection (1) of this section for refund of money paid to the administrator is entitled to interest on the amount refunded, at the same rate a holder is required to pay to the administrator under section
38-13-1204 (1)
, from the date paid to the administrator until the date of the refund.
Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.
L. 2019: Entire article R&RE, (SB 19 -088), ch. 452, p. 452, § 1, effective 7/1/2020.