Title 38, Property - Real and Personal
0 chapters · 857 sections in this title.
Colo. Rev. Stat. § 38-13-1408 Indemnification for breach
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(1) If a claim is made or action commenced arising out of an event described in section 38-13-1407 (1) relating to confidential information possessed by an administrator's agent, the administrator's agent shall indemnify, defend, and hold harmless a holder and the holder's affili…
Colo. Rev. Stat. § 38-13-1501 Uniformity of application and construction
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In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 461, � 1, effective July 1, 2020. 38…
Colo. Rev. Stat. § 38-13-1503 Transitional provision
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(1) An initial report filed under this article 13 for property that was not required to be reported before July 1, 2020, but that is required to be reported under this article 13, must include all items of property that would have been presumed abandoned during the five-year peri…
Colo. Rev. Stat. § 38-13-201 When property presumed abandoned
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(1) Subject to section 38-13-210, the following property is presumed abandoned if it is unclaimed by the apparent owner during the period specified in this section: (a) A traveler's check, fifteen years after issuance; (b) A money order, seven years after issuance; (c) A state or…
Colo. Rev. Stat. § 38-13-202 When tax-deferred retirement account presumed abandoned
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(1) Subject to section 38-13-210, property held in a pension account or retirement account that qualifies for tax deferral under the income tax laws of the United States is presumed abandoned if it is unclaimed by the apparent owner three years after it becomes payable or distrib…
Colo. Rev. Stat. § 38-13-203 When other tax-deferred account presumed abandoned
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(1) Subject to section 38-13-210 and except for property described in section 38-13-202 and property held in a plan described in section 529A of the federal Internal Revenue Code of 1986, as amended, 26 U.S.C. sec. 529A, property held in an account or plan, including a health sav…
Colo. Rev. Stat. § 38-13-204 When custodial account for minor presumed abandoned
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(1) Subject to section 38-13-210, property held in an account established under a state's Uniform Gifts to Minors Act or Uniform Transfers to Minors Act is presumed abandoned if it is unclaimed by or on behalf of the minor on whose behalf the account was opened three years after …
Colo. Rev. Stat. § 38-13-205 When contents of safe-deposit box presumed abandoned
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(1) Tangible property held in a safe-deposit box and proceeds from a sale of the property by the holder permitted by law of this state other than this article 13 are presumed abandoned if the property remains unclaimed by the apparent owner five years after the earlier of the: (a…
Colo. Rev. Stat. § 38-13-206 When stored-value card presumed abandoned
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(1) Subject to section 38-13-210, the net value of a stored-value card other than a gift card is presumed abandoned on the latest of three years after: (a) December 31 of the year in which the card is issued or additional funds are deposited into it; (b) The most recent indicatio…
Colo. Rev. Stat. § 38-13-207 When gift card presumed abandoned
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Subject to section 38-13-210, a gift card is presumed abandoned if it is unclaimed by the apparent owner five years after the later of the date of purchase or its most recent use. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 418, � 1, effective July 1, 2020. 38-…
Colo. Rev. Stat. § 38-13-208 When security presumed abandoned
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(1) Subject to section 38-13-210, a security is presumed abandoned three years after: (a) The date a second consecutive communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States postal servi…
Colo. Rev. Stat. § 38-13-209 When related property interest presumed abandoned
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At and after the time property is presumed abandoned under this part 2, any other property right or interest accrued or accruing from the property and not previously presumed abandoned is also presumed abandoned. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 419,…
Colo. Rev. Stat. § 38-13-210 Indication of apparent owner interest in property
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(1) The period after which property is presumed abandoned is measured from the later of: (a) The date the property is presumed abandoned under this part 2; or (b) The latest indication of interest by the apparent owner in the property. (2) Under this article 13, an indication of …
Colo. Rev. Stat. § 38-13-211 Knowledge of death of insured or annuitant - definition
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(1) In this section, death master file means the United States social security administration's death master file or other database or service that is at least as comprehensive as the United States social security administration's death master file for determining that an individ…
Colo. Rev. Stat. § 38-13-212 Deposit account for insurance policy or annuity contract
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If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check- or draft-writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than dea…
Colo. Rev. Stat. § 38-13-213 Refunds held by business associations
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Except to the extent otherwise ordered by a court or administrative agency, any sum that a business association has been ordered to refund by a court or administrative agency that remains unclaimed by the owner for more than one year after it became payable in accordance with the…
Colo. Rev. Stat. § 38-13-214 Foreclosure sale - overbid
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Any overbid, as defined in section 38-38-100.3, that is equal to or greater than twenty-five dollars and that remains unclaimed for six months after the date of sale is presumed abandoned. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 422, � 1, effective July 1, …
Colo. Rev. Stat. § 38-13-217 Gaming chips or tokens - gaming award points - inapplicability
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This article 13 does not apply to gaming award points and gaming chips or tokens issued or sold by a licensed gaming establishment before, on, or after August 4, 2004, except to the extent the state has taken custody of any gaming award points or gaming chips or tokens on or befo…
Colo. Rev. Stat. § 38-13-218 Property held by racetracks - inapplicability
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This article 13 does not apply to any intangible unclaimed property held by a racetrack, as defined in section 44-32-102 (24). Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 424, � 1, effective July 1, 2020. Editor's note: This section is similar to former � 38-13…
Colo. Rev. Stat. § 38-13-219 Unclaimed gift cards - limited exception
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This article 13 does not apply to unclaimed gift cards if the holder or issuer is a business association with annual gross receipts from the sales or issuance of all gift cards totaling two hundred thousand dollars or less. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 1…
Colo. Rev. Stat. § 38-13-220 Tax refunds
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(1) On and after October 1, 2002, any amount due and payable as a refund of Colorado income tax or grant for property taxes, rent, or heat or fuel expenses assistance represented by a warrant that has not been presented for payment within six months after the date of issuance of …
Colo. Rev. Stat. § 38-13-301 Address of apparent owner to establish priority
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(1) In this part 3, the following rules apply: (a) The last-known address of an apparent owner is any description, code, or other indication of the location of the apparent owner that identifies the state, even if the description, code, or indication of location is not sufficient…
Colo. Rev. Stat. § 38-13-302 Address of apparent owner in this state
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(1) The administrator may take custody of property that is presumed abandoned, whether located in this state, another state, or a foreign country if: (a) The last-known address of the apparent owner in the records of the holder is in this state; or (b) The records of the holder d…
Colo. Rev. Stat. § 38-13-303 If records show multiple addresses of apparent owner
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(1) Except as otherwise provided in subsection (2) of this section, if records of a holder reflect multiple addresses for an apparent owner and if this state is the state of the most recently recorded address, this state may take custody of property presumed abandoned, whether lo…
Colo. Rev. Stat. § 38-13-304 Holder domiciled in this state
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(1) Except as otherwise provided in subsection (2) of this section or in section 38-13-302 or 38-13-303, the administrator may take custody of property presumed abandoned, whether located in this state, another state, or a foreign country, if the holder is domiciled in this state…
Colo. Rev. Stat. § 38-13-305 Custody if transaction took place in this state
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(1) Except as otherwise provided in sections 38-13-302, 38-13-303, and 38-13-304, the administrator may take custody of property presumed abandoned whether located in this state or another state if: (a) The transaction out of which the property arose took place in this state; (b)…
Colo. Rev. Stat. § 38-13-306 Traveler's check, money order, or similar instrument
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The administrator may take custody of sums payable on a traveler's check, money order, or similar instrument presumed abandoned to the extent permissible under federal law. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 426, � 1, effective July 1, 2020.
Colo. Rev. Stat. § 38-13-307 Burden of proof to establish administrator's right to custody
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(1) If the administrator asserts a right to custody of unclaimed property, the administrator has the burden to prove: (a) The existence and amount of the property; (b) That the property is presumed abandoned; and (c) That the property is subject to the custody of the administrato…
Colo. Rev. Stat. § 38-13-401 Report required by holder
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(1) A holder of property presumed abandoned and subject to the custody of the administrator shall report in a record to the administrator concerning the property. The administrator shall not require a holder to file a paper report. (2) A holder may contract with a third party to …
Colo. Rev. Stat. § 38-13-402 Content of report
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(1) The report required under section 38-13-401 must: (a) Be signed by or on behalf of the holder and verified as to its completeness and accuracy; (b) If filed electronically, be in a secure format approved by the administrator that protects confidential information of the appar…
Colo. Rev. Stat. § 38-13-403 When report to be filed
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(1) Except as otherwise provided in subsection (2) of this section and subject to subsection (3) of this section, the report under section 38-13-401 must be filed before November 1 of each year and cover the twelve months preceding July 1 of that year. (2) Subject to subsection (…
Colo. Rev. Stat. § 38-13-404 Retention of records by holder
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(1) A holder required to file a report under section 38-13-401 shall retain records for six years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the administrator. A holder may …
Colo. Rev. Stat. § 38-13-405 When property reportable and payable or deliverable
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Property is reportable and payable or deliverable under this article 13 even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 429, � 1, effective July 1, 202…
Colo. Rev. Stat. § 38-13-501 Notice to apparent owner by holder
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(1) Subject to subsection (2) of this section, the holder of property presumed abandoned shall send to the apparent owner notice that complies with section 38-13-502 in a format acceptable to the administrator, by first-class United States mail, not more than one hundred eighty d…
Colo. Rev. Stat. § 38-13-502 Contents of notice by holder
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(1) The notice under section 38-13-501 must contain a heading that reads substantially as follows: Notice. The State of Colorado requires us to notify you that your property may be transferred to the custody of the state treasurer if you do not contact us before [insert date that…
Colo. Rev. Stat. § 38-13-503 Notice by administrator
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(1) The administrator shall give notice to an apparent owner that property that is presumed abandoned and appears to be owned by the apparent owner is held by the administrator under this article 13. (2) In providing notice under subsection (1) of this section, the administrator …
Colo. Rev. Stat. § 38-13-601 Definition of good faith
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(1) In this part 6, payment or delivery of property is made in good faith if a holder: (a) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the administrator under this article 13; or (b) M…
Colo. Rev. Stat. § 38-13-602 Dormancy charge
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(1) A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if: (a) A valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a spe…
Colo. Rev. Stat. § 38-13-603 Payment or delivery of property to administrator
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(1) Except as otherwise provided in this section, on filing a report under section 38-13-401, the holder shall pay or deliver to the administrator the property described in the report. (2) If property in a report under section 38-13-401 is an automatically renewable deposit and a…
Colo. Rev. Stat. § 38-13-604 Effect of payment or delivery of property to administrator
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On payment or delivery of property to the administrator under this article 13, the administrator as agent for the state assumes custody and responsibility for the safekeeping of the property. A holder that pays or delivers property to the administrator in good faith and that subs…
Colo. Rev. Stat. § 38-13-605 Recovery of property by holder from administrator
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(1) 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 within two years of remitting and reporting the money paid if the holder: (a) Paid the money in error; or (b) After paying the mone…
Colo. Rev. Stat. § 38-13-606 Crediting income or gain to owner's account
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If property other than money is delivered to the administrator, the owner is entitled to receive from the administrator income or gain realized or accrued on the property before the property is sold. Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 434, � 1, effecti…
Colo. Rev. Stat. § 38-13-607 Administrator's options as to custody
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(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 un…
Colo. Rev. Stat. § 38-13-609 Periods of limitation and repose
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(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 fi…
Colo. Rev. Stat. § 38-13-701 Public sale of property
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(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…
Colo. Rev. Stat. § 38-13-702 Disposal of securities - definition
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(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 securit…
Colo. Rev. Stat. § 38-13-703 Recovery of securities or value by owner
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(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 …
Colo. Rev. Stat. § 38-13-704 Purchaser owns property after sale
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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 tran…
Colo. Rev. Stat. § 38-13-705 Military medal or decoration
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(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…
Colo. Rev. Stat. § 38-13-802 Administrator to retain records of property
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(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…