First Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
REREVISED
This Version Includes All Amendments
Adopted in the Second House
LLS NO. 25-0675.01 Jason Gelender x4330
HOUSE BILL 25-1224
House Committees Senate Committees
Finance Finance
A BILL FOR AN ACT
C
ONCERNING MODIFICATION OF THE "REVISED UNIFORM UNCLAIMED101
P
ROPERTY ACT".102
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
The bill modifies the "Revised Uniform Unclaimed Property Act"
(RUUPA) as follows:
! Sections 1, 2, 5, and 6 clarify the treatment under RUUPA
of legacy preneed contracts, which are preneed contracts
for funeral services entered into before August 10, 2022;
SENATE
3rd Reading Unamended
April 4, 2025
SENATE
Amended 2nd Reading
April 3, 2025
HOUSE
3rd Reading Unamended
March 20, 2025
HOUSE
Amended 2nd Reading
March 19, 2025
HOUSE SPONSORSHIP
Titone and Soper, Bacon, Lindstedt, Marshall, McCluskie, Ricks
SENATE SPONSORSHIP
Snyder, Kipp
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law. ! Sections 2, 3, and 7 modify the definition of virtual
currency, specify that virtual currency is presumed
abandoned 3 years after the latest indication of interest by
its apparent owner of the virtual currency, requires a holder
of unclaimed property that is reporting unclaimed virtual
currency to the state treasurer (administrator) to liquidate
the virtual currency within 30 days of filing the report and
remit the liquidation proceeds to the administrator, and
specifies that the owner of the virtual currency has no
recourse against either the holder or the administrator for
any gain in value of the virtual currency after liquidation;
! Section 4 shortens the period for which a holder required
to file must retain records from 10 to 6 years;
! Section 8 requires a holder that pays money to the
administrator to file a claim for reimbursement from the
administrator of the amount paid within 2 years of
remitting and reporting the money paid;
! Section 9 reduces the amount of time after a duty of a
holder of unclaimed property arises that the administrator
has to commence an action, proceeding, or examination
with respect to the duty from 10 years to 6 years;
! Section 10 clarifies the authority of the administrator with
respect to the sale or other disposition of unclaimed thinly
traded securities;
! If the administrator determines that a county or a
municipality owns unclaimed property in the possession of
the administrator, section 11 authorizes the administrator
to issue a warrant to or transfer the property to an operating
account of the county or the municipality;
! Section 12 authorizes the administrator to require a person
making a claim for unclaimed property to supply nonpublic
and nonredacted documents to prove ownership of the
property;
! Section 13 reduces the maximum amount of compensation
allowed to be paid under an agreement to recover or assist
in recovering an unclaimed overbid transferred to the
administrator from either 30% or 20% of the amount of the
overbid depending on when the agreement is entered into
to 10% of the amount of overbid without regard to when
the agreement was entered into; and
! Section 14 repeals a statutory exemption from RUUPA for
a local government that is a holder of property and satisfies
specified conditions because few local governments have
met the specified conditions.
1224
-2- Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, 10-15-111.7, amend2
(2) introductory portion and (3) as follows:3
10-15-111.7. Disposition of unclaimed preneed funeral4
contracts - unclaimed property trust fund. (2) E
XCEPT AS OTHERWISE5
SPECIFIED IN SECTION 38-13-201 (1)(m) FOR A LEGACY PRENEED6
CONTRACT, AS DEFINED IN SECTION 38-13-102 (13.3),
a preneed contract7
for funeral services is unclaimed at the earlier of the following:8
(3) E
XCEPT AS OTHERWISE SPECIFIED IN SECTION 38-13-406 (1)9
FOR A LEGACY PRENEED CONTRACT , AS DEFINED IN SECTION 38-13-102
10
(13.3), for purposes of this section, the amount reportable for an11
unclaimed preneed contract is the amount paid by the purchaser12
CONTRACT BUYER to the contract seller, less selling costs not to exceed13
fifteen percent of the total preneed contract price, liquidated damages,14
and contractual offsets, as authorized by law. 15
SECTION 2. In Colorado Revised Statutes, 38-13-102, amend16
(32) introductory portion, (32)(c), and (32)(d); and add (5.5), (13.3),17
(13.5), and (32)(e) as follows:18
38-13-102. Definitions. As used in this article 13, unless the19
context otherwise requires:20
(5.5) "C
RYPTOCURRENCY" MEANS A DIGITAL CURRENCY IN WHICH21
TRANSACTIONS ARE VERIFIED AND RECORDS ARE MAINTAINED BY A22
DECENTRALIZED SYSTEM USING A BLOCKCHAIN RATHER THAN BY A23
CENTRALIZED AUTHORITY.24
(13.3) "L
EGACY PRENEED CONTRACT " MEANS A PRENEED25
CONTRACT, AS DEFINED IN SECTION 10-15-102 (13), INCLUDING BOTH A26
1224-3- PRENEED CONTRACT FOR FUNERAL MERCHANDISE AND SERVICES AND A1
PRENEED CONTRACT FOR CEMETERY MERCHANDISE AND SERVICES , THAT2
WAS ENTERED INTO BEFORE AUGUST 10, 2022.3
(13.5) "L
EGACY PRENEED CONTRACT BENEFICIARY " MEANS, FOR4
ANY LEGACY PRENEED CONTRACT ENTERED INTO ON OR AFTER JULY 1,5
1967,
ANY PERSON SPECIFIED IN THE LEGACY PRENEED CONTRACT UPON6
WHOSE DEATH A FINAL RESTING PLACE , MERCHANDISE, AS DEFINED IN7
SECTION 10-15-102 (1), OR SERVICES, AS DEFINED IN SECTION 10-15-1028
(16),
SHALL BE PROVIDED, DELIVERED, OR PERFORMED.9
(32) "Virtual currency" means a
ANY TYPE OF digital10
representation of value,
INCLUDING CRYPTOCURRENCY , THAT IS used as11
a medium of exchange, unit of account, or a store of value, but
THAT does12
not have legal tender status as recognized by the United States. The term13
does not include:14
(c) A loyalty card; or
15
(d) A financial organization loyalty card;
OR16
(e) A
GIFT CARD.17
SECTION 3. In Colorado Revised Statutes, 38-13-201, amend18
(1)(l) and (1)(m); and add (1)(l.5) as follows:19
38-13-201. When property presumed abandoned. (1) Subject20
to section 38-13-210, the following property is presumed abandoned if it21
is unclaimed by the apparent owner during the period specified in this22
section:23
(l) Except as otherwise provided for unclaimed utility deposits24
under section 40-8.5-106, a deposit or refund owed to a subscriber by a25
utility, one year after the deposit or refund becomes payable; and
26
(l.5) A
NY VIRTUAL CURRENCY HELD OR OWING BY ANY BANKING27
1224
-4- ORGANIZATION, CORPORATION, CUSTODIAN, EXCHANGE, OR OTHER ENTITY1
ENGAGED IN VIRTUAL CURRENCY BUSINESS ACTIVITY , THREE YEARS AFTER2
THE LATEST INDICATION OF INTEREST IN THE PROPERTY , AS DESCRIBED IN3
SECTION 38-13-210 (2), BY THE APPARENT OWNER OF THE VIRTUAL4
CURRENCY; AND5
(m) (I) All other property not specified in this section or sections6
38-13-202 to 38-13-208 and 38-13-213 to 38-13-220,
INCLUDING THE7
REPORTABLE AMOUNT OF A LEGACY PRENEED CONTRACT AS SET FORTH IN8
SECTION 38-13-406 (1), the earlier of three years after the owner first has9
a right to demand the property or the obligation to pay or distribute the10
property arises.11
(II) F
OR PURPOSES OF SUBSECTION (1)(m)(I) OF THIS SECTION AND12
NOTWITHSTANDING SECTION 10-15-111.7 (2), THE OWNER OF A LEGACY13
PRENEED CONTRACT FIRST HAS A RIGHT TO DEMAND THE PROPERTY , THE14
OBLIGATION TO PAY OR DISTRIBUTE THE PROPERTY ARISES , AND THE15
THREE-YEAR PRESUMPTIVE ABANDONMENT PERIOD FOR THE LEGACY16
PRENEED CONTRACT COMMENCES ON THE EARLIER OF :17
(A) T
HE CONFIRMED DATE OF DEATH OF THE LEGACY PRENEED18
CONTRACT BENEFICIARY; OR19
(B) I
N THE ABSENCE OF KNOWLEDGE OF THE DEATH OF THE20
LEGACY PRENEED CONTRACT BENEFICIARY , THE PRESUMED DATE OF21
DEATH, WHICH IS THE DATE ON WHICH THE LEGACY PRENEED CONTRACT22
BENEFICIARY REACHES ONE HUNDRED SEVEN YEARS OF AGE . THE DATE OF23
DEATH OF THE LEGACY PRENEED CONTRACT BENEFICIARY CAN BE24
OBTAINED THROUGH ANY SOURCE , INCLUDING A DECLARATION OF DEATH,25
A DEATH CERTIFICATE , THE UNITED STATES SOCIAL SECURITY26
ADMINISTRATION OR OTHER GOVERNMENTAL DEATH RECORDS , OR OTHER27
1224
-5- EQUIVALENT RESOURCE.1
SECTION 4. In Colorado Revised Statutes, 38-13-202, amend2
(1); and repeal (3) and (4) as follows:3
38-13-202. When tax-deferred retirement account presumed4
abandoned. (1) Subject to section 38-13-210, property held in a pension5
account or retirement account that qualifies for tax deferral under the6
income tax laws of the United States is presumed abandoned if it is7
unclaimed by the apparent owner three years after the later of:8
(a) The following dates:9
(I) Except as otherwise provided in subsection (1)(b)(II) of this10
section, the date a second consecutive communication sent by the holder11
by first-class United States mail to the apparent owner is returned to the12
holder undelivered by the United States postal service; or13
(II) If the second communication is sent later than thirty days after14
the date the first communication is returned undelivered, the date the first15
communication was returned undelivered by the United States postal16
service; or17
(b) The earlier of the following dates:18
(I) The date the apparent owner becomes seventy and one-half19
years of age, if reasonably determinable by the holder; or20
(II) If the federal "Internal Revenue Code of 1986", as amended,21
26 U.S.C. sec. 1 et seq., requires distribution to avoid a tax penalty, two22
years after the date the holder:23
(A) Receives confirmation of the death of the apparent owner in24
the ordinary course of its business; or25
(B) Confirms the death of the apparent owner under subsection (2)26
of this section IT BECOMES PAYABLE OR DISTRIBUTABLE IF THE OWNER27
1224
-6- HAS NOT ACCEPTED THE DISTRIBUTION, CORRESPONDED IN WRITING1
CONCERNING THE DISTRIBUTION, OR OTHERWISE INDICATED AN INTEREST2
AS EVIDENCED BY A MEMORANDUM OR OTHER RECORD ON FILE WITH THE3
FIDUCIARY OF THE TRUST OR CUSTODIAL FUND OR THE ADMINISTRATOR OF4
THE PLAN UNDER WHICH THE TRUST OR FUND IS ESTABLISHED .5
(3) If the holder does not send communications to the apparent6
owner of an account described in subsection (1) of this section by7
first-class United States mail, the holder shall attempt to confirm the8
apparent owner's interest in the property by sending the apparent owner9
an electronic-mail communication not later than two years after the10
apparent owner's last indication of interest in the property; except that the11
holder promptly shall attempt to contact the apparent owner by first-class12
United States mail if:13
(a) The holder does not have information needed to send the14
apparent owner an electronic-mail communication or the holder believes15
that the apparent owner's electronic-mail address in the holder's records16
is not valid;17
(b) The holder receives notification that the electronic-mail18
communication was not received; or19
(c) The apparent owner does not respond to the electronic-mail20
communication not later than thirty days after the communication was21
sent.22
(4) If first-class United States mail sent under subsection (3) of23
this section is returned to the holder undelivered by the United States24
postal service, the property is presumed abandoned three years after the25
later of:26
(a) Except as otherwise provided in subsection (4)(b) of this27
1224
-7- section, the date a second consecutive communication to contact the1
apparent owner sent by first-class United States mail is returned to the2
holder undelivered;3
(b) If the second communication is sent later than thirty days after4
the date the first communication is returned undelivered, the date the first5
communication was returned undelivered; or6
(c) The date established by subsection (1)(b) of this section.7
SECTION 5. In Colorado Revised Statutes, 38-13-404, amend8
(1) introductory portion as follows:9
38-13-404. Retention of records by holder. (1) A holder10
required to file a report under section 38-13-401 shall retain records for11
ten SIX years after the later of the date the report was filed or the last date12
a timely report was due to be filed, unless a shorter period is provided by13
rule of the administrator. A holder may satisfy the requirement to retain14
records under this section through an agent. The records must contain:15
SECTION 6. In Colorado Revised Statutes, add 38-13-406 as16
follows:17
38-13-406. Clarification of reporting requirements for18
unclaimed legacy preneed contracts - amount reportable -19
identification of purchaser and beneficiary. (1) T
HE AMOUNT OF AN20
UNCLAIMED LEGACY PRENEED CONTRACT THAT IS REPORTABLE AS21
UNCLAIMED PROPERTY IS THE PURCHASE PRICE PAID BY THE CONTRACT22
BUYER, AS DEFINED IN SECTION 10-15-102 (5), EXCLUSIVE OF ANY23
FINANCE CHARGES OR LATE PAYMENT FEES , LESS THE AMOUNT OF ANY24
LIQUIDATED DAMAGES FOR NONPERFORMANCE PAID BY OR ON BEHALF OF25
THE CONTRACT SELLER, AS DEFINED IN SECTION 10-15-102 (6), OR ANY26
CANCELLATION FEES PAID AS REQUIRED BY THE LEGACY PRENEED27
1224
-8- CONTRACT, WHICH CANCELLATION FEES CANNOT EXCEED FIFTEEN1
PERCENT OF THE PURCHASE PRICE. THE CONTRACT SELLER IS ENTITLED TO2
RETAIN ALL INTEREST EARNED ON THE MONEY PAID TO PURCHASE THE3
LEGACY PRENEED CONTRACT .4
(2) I
N ADDITION TO COMPLYING WITH THE OTHER REPORTING5
REQUIREMENTS SET FORTH IN THIS ARTICLE 13, IN REPORTING A LEGACY6
PRENEED CONTRACT TO THE ADMINISTRATOR , THE HOLDER SHALL7
IDENTIFY BY NAME BOTH THE CONTRACT BUYER , AS DEFINED IN SECTION8
10-15-102
(5), AND THE LEGACY PRENEED CONTRACT BENEFICIARY .9
(3) A
HOLDER OF A LEGACY PRENEED CONTRACT WHO COMPLIES10
WITH THE REQUIREMENTS OF SUBSECTIONS (1) AND (2) OF THIS SECTION11
AND SATISFIES THE REQUIREMENTS SET FORTH IN SECTION 38-13-604 IS12
RELIVED OF RESPONSIBILITY ARISING THEREAFTER WITH RESPECT TO13
PAYMENT OR DELIVERY OF THE PROPERTY TO THE ADMINISTRATOR .14
SECTION
7. In Colorado Revised Statutes, 38-13-501, add (3)15
as follows:16
38-13-501. Notice to apparent owner by holder. (3) T
HE17
NOTICE REQUIREMENTS SET FORTH IN SUBSECTIONS (1) AND (2) OF THIS18
SECTION REQUIRE NOTICE TO THE APPARENT OWNER OF A LEGACY19
PRENEED CONTRACT NOTWITHSTANDING THE DEATH OR PRESUMED DEATH20
OF THE CONTRACT BUYER, AS DEFINED IN SECTION 10-15-102 (5).21
SECTION
8. In Colorado Revised Statutes, 38-13-603, add (4.5)22
as follows:23
38-13-603. Payment or delivery of property to administrator.24
(4.5) (a) IF PROPERTY IN A REPORT UNDER SECTION 38-13-401 IS VIRTUAL25
CURRENCY, THE HOLDER SHALL LIQUIDATE THE VIRTUAL CURRENCY26
WITHIN THIRTY DAYS OF FILING THE REPORT AND REMIT THE LIQUIDATION27
1224
-9- PROCEEDS TO THE ADMINISTRATOR . THE OWNER SHALL HAVE NO1
RECOURSE AGAINST EITHER THE HOLDER OR THE ADMINISTRATOR FOR ANY2
GAIN IN VALUE OF THE VIRTUAL CURRENCY AFTER LIQUIDATION .3
(b) IF A HOLDER CANNOT LIQUIDATE VIRTUAL CURRENCY AND4
CANNOT OTHERWISE CAUSE VIRTUAL CURRENCY TO BE LIQUIDATED, THE5
HOLDER SHALL PROMPTLY NOTIFY THE ADMINISTRATOR IN WRITING AND6
EXPLAIN THE REASONS WHY THE VIRTUAL CURRENCY CANNOT BE7
LIQUIDATED. THE ADMINISTRATOR, IN THE ADMINISTRATOR'S ABSOLUTE8
AND SOLE DISCRETION, MAY DIRECT THE HOLDER TO EITHER:9
(I) TRANSFER THE VIRTUAL CURRENCY THAT CANNOT BE10
LIQUIDATED TO A CUSTODIAN SELECTED BY THE ADMINISTRATOR ; OR11
(II) CONTINUE TO HOLD THE VIRTUAL CURRENCY UNTIL THE12
ADMINISTRATOR OR THE HOLDER DETERMINES THAT THE VIRTUAL13
CURRENCY CAN BE LIQUIDATED PURSUANT TO THIS ARTICLE 13 OR THAT14
THERE IS AN INDICATION OF APPARENT OWNER INTEREST .15
SECTION 9. In Colorado Revised Statutes, 38-13-605, amend16
(1) introductory portion, (2), (3), and (4)(a) introductory portion as17
follows:18
38-13-605. Recovery of property by holder from19
administrator. (1) A holder that pays money to the administrator under20
this article 13 may file a claim for reimbursement from the administrator21
of the amount paid
WITHIN TWO YEARS OF REMITTING AND REPORTING THE22
MONEY PAID if the holder:23
(2) If a claim for reimbursement under subsection (1) of this24
section is made for a payment made on a negotiable instrument, including25
a traveler's check, money order, or similar instrument, the holder must26
submit proof that the instrument was presented and that payment was27
1224
-10- made to a person the holder reasonably believed to be entitled to payment.1
The holder may claim reimbursement
WITHIN TWO YEARS OF REMITTING2
AND REPORTING THE PAYMENT even if the payment was made to a person3
whose claim was made after expiration of a period of limitation on the4
owner's right to receive or recover property, whether specified by5
contract, statute, or court order.6
(3) If a holder is reimbursed by the administrator under subsection7
(1)(b) of this section, the holder may also recover from the administrator8
income or gain under section 38-13-606
WITHIN TWO YEARS OF9
REMITTING AND REPORTING THE MONEY that would have been paid to the10
owner if the money had been claimed from the administrator by the owner11
to the extent the income or gain was paid by the holder to the owner.12
(4) (a) A holder that delivers property other than money to the13
administrator under this article 13 may file a claim
WITHIN TWO YEARS OF14
DELIVERING THE PROPERTY for return of the property from the15
administrator if:16
SECTION
10. In Colorado Revised Statutes, 38-13-609, amend17
(3) as follows:18
38-13-609. Periods of limitation and repose. (3) The19
administrator shall not commence an action, proceeding, or examination20
with respect to a duty of a holder under this article 13 more than ten SIX21
years after the duty arose.22
SECTION 11. In Colorado Revised Statutes, 38-13-702, amend23
(2); and add (3) as follows:24
38-13-702. Disposal of securities - definition. (2) E
XCEPT AS25
OTHERWISE PROVIDED IN SUBSECTION (3) OF THIS SECTION, the26
administrator shall not sell a security listed on an established stock27
1224
-11- exchange for less than the price prevailing on the exchange at the time of1
sale. The administrator may sell a security not listed on an established2
exchange by any commercially reasonable method.3
(3) (a) T
HE ADMINISTRATOR MAY SELL A THINLY TRADED4
SECURITY THAT IS LISTED ON AN ESTABLISHED STOCK EXCHANGE FOR LESS5
THAN THE PRICE PREVAILING ON THE EXCHANGE AT THE TIME OF SALE BY6
ANY COMMERCIALLY REASONABLE METHOD AND AT ANY TIME AFTER THE7
THREE-YEAR PERIOD SET FORTH IN SUBSECTION (1) OF THIS SECTION HAS8
PASSED IF THE ADMINISTRATOR DETERMINES , IN THE ADMINISTRATOR'S9
SOLE DISCRETION, THAT THERE ARE NO BUYERS FOR THE THINLY TRADED10
SECURITY AT THE PRICE PREVAILING ON THE EXCHANGE AT THE TIME OF11
SALE. IF THE ADMINISTRATOR DETERMINES THAT THE THINLY TRADED12
SECURITY HAS NO SUBSTANTIAL COMMERCIAL VALUE OR THAT THE COSTS13
OF DISPOSING OF IT WILL EXCEED ITS VALUE, THE ADMINISTRATOR MAY14
RETURN IT TO THE HOLDER OR DESTROY OR OTHERWISE DISPOSE OF IT AS15
AUTHORIZED BY SECTION 38-13-608.16
(b) A
S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE17
REQUIRES, "THINLY TRADED SECURITY" MEANS A SECURITY THAT CANNOT18
BE EASILY SOLD OR EXCHANGED FOR CASH WITHOUT CAUSING A19
SIGNIFICANT CHANGE IN THE PRICE OF THE SECURITY .20
SECTION
12. In Colorado Revised Statutes, amend 38-13-902.421
as follows:22
38-13-902.4. Claim of the state, a county, a municipality, or a23
governmental agency. At any time after property has been paid or24
delivered to the administrator under this article 13, if the administrator25
determines that the state,
A COUNTY, A MUNICIPALITY, or a state26
governmental agency owns the property, the administrator may
ISSUE A27
1224
-12- WARRANT TO OR transfer the property to an operating account of the state,1
THE COUNTY, THE MUNICIPALITY, or the STATE GOVERNMENTAL agency. 2
SECTION 13. In Colorado Revised Statutes, 38-13-904, amend3
(1) as follows:4
38-13-904. When administrator must honor claim for5
property. (1) The administrator shall pay or deliver property to a6
claimant under section 38-13-903 if the administrator receives evidence7
sufficient to establish to the satisfaction of the administrator that the8
claimant is the owner of the property. THE GENERAL ASSEMBLY9
RECOGNIZES AND REAFFIRMS THAT THE ADMINISTRATOR MAY REQUIRE A10
CLAIMANT TO PROVIDE ANY DOCUMENTS THAT ARE NECESSARY TO11
ESTABLISH OWNERSHIP BEFORE MAKING PAYMENT, INCLUDING BUT NOT12
LIMITED TO NONPUBLIC OR NONREDACTED DOCUMENTS .13
SECTION 14. In Colorado Revised Statutes, 38-13-1304, amend14
(1)(b)(IV) as follows:15
38-13-1304. Agreements to locate reported property - overbids16
from foreclosure sales. (1) Notwithstanding any provision of section17
38-13-1303 to the contrary, an agreement to pay compensation to recover18
or assist in recovering an unclaimed overbid transferred to the19
administrator under section 38-38-111 is:20
(b) Enforceable if:21
(IV) The compensation to be paid under the terms of the22
agreement does not exceed23
(A) Twenty TEN percent of the amount of the overbid if entered24
into at least two years but not more than three years, after the date of the25
transfer; or26
(B) Thirty percent of the amount of the overbid if entered into27
1224
-13- more than three years after the date of the transfer; and1
SECTION 15. In Colorado Revised Statutes, 38-13-1402, amend2
(1)(b); and add (1)(b.5) as follows:3
38-13-1402. Confidential information. (1) Except as otherwise4
provided in this article 13, the following are confidential and exempt5
from public inspection or disclosure:6
(b) Reports and records of a holder in possession of the7
administrator or the administrator's agent; and8
(b.5) ALL RECORDS, DOCUMENTS, AND INFORMATION SUBMITTED9
BY A CLAIMANT TO THE ADMINISTRATOR OR THE ADMINISTRATOR 'S AGENT10
TO ENABLE THE ADMINISTRATOR OR THE ADMINISTRATOR'S AGENT TO11
DETERMINE WHETHER THE CLAIMANT IS THE OWNER OF THE PROPERTY ;12
AND13
SECTION 16. In Colorado Revised Statutes, repeal 38-13-150414
as follows:15
38-13-1504. Application of article - local government -16
exemption - notice of property. (1) Except as otherwise provided in this17
section, the provisions of this article 13 do not apply to a local18
government that is a holder of property if:19
(a) The local government has a local ordinance or resolution20
relating to the disposition of property that conflicts with this article 13;21
(b) The local ordinance or resolution described in subsection22
(1)(a) of this section requires the local government to hold the property23
for the owner for at least five years after the date it is presumed24
abandoned under section 38-13-201 (1)(j); and25
(c) The local government provides the administrator with the26
information described in subsection (2) of this section in the same27
1224
-14- electronic format as a holder is required to use to report unclaimed1
property.2
(2) To satisfy subsection (1)(c) of this section, a local government3
must provide the administrator with the following information on or4
before November 1 of each year:5
(a) An alphabetical list of the owners for whom the local6
government holds property that is presumed abandoned under section7
38-13-201 (1)(j); and8
(b) The value of the abandoned property that the exempt local9
government holds for each owner.10
(3) The administrator shall include the information received in11
accordance with subsection (2) of this section, along with a statement that12
a person claiming to be the owner must file a claim for the property with13
the specific local government that has the property, as part of the website14
or database maintained under section 38-13-503 (3).15
SECTION 17. Safety clause. The general assembly finds,16
determines, and declares that this act is necessary for the immediate17
preservation of the public peace, health, or safety or for appropriations for18
the support and maintenance of the departments of the state and state19
institutions.20
1224
-15-