§ 8-10-101 — Wages a preferred claim

Colorado § 8-10-101

• Jurisdiction: Colorado
• Title 08: Labor and
• Art.: Preferred Claims

Text

When the business of any person,
corporation, company, or firm is suspended by the action of creditors or put into the
hands of a receiver or trustee, the debts owing to laborers, servants, or employees,
which have occurred by reason of their labor or employment shall be considered
and treated as preferred claims. Such laborers or employees shall be preferred
creditors and shall first be paid in full. If there are not sufficient funds to pay them
in full, they shall be paid from the proceeds of the sale of the property seized. Any
person interested may contest any such claim, or part thereof, by filing exceptions
thereto, supported by affidavit, with the officer having the custody of such
property, and thereupon the claimant shall be required to reduce his claim to
judgment before a court having jurisdiction thereof before any part thereof is paid.

Legislative History

Source: L. 03: p. 143, � 1. R.S. 08: � 6998. C.L. � 4243. CSA: C. 97, � 217. CRS 53: � 80-12-1. C.R.S. 1963: � 80-16-1.