Colorado § 28-5-401 Loans to minor veterans

Colorado Statutes

§ 28-5-401 — Loans to minor veterans

Colorado·Title 28 Military and·Art. Veterans

(1)The disability of minority of any person otherwise eligible for guaranty or insurance of a loan pursuant to the Servicemen's Readjustment Act of 1944, as amended, and of the minor spouse of any eligible veteran, irrespective of his or her age, in connection with any transaction entered into pursuant to said act, as amended, is removed for all purposes in connection with such transaction, including, but not limited to, incurring of indebtedness or obligations, and acquiring, encumbering, selling, releasing, or conveying real or personal property or any interest therein, and litigating or settling controversies arising therefrom if all or a part of any obligations incident to such transaction is guaranteed or insured by the administrator of veterans affairs pursuant to such act

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(1) The disability of minority of any
person otherwise eligible for guaranty or insurance of a loan pursuant to the
Servicemen's Readjustment Act of 1944, as amended, and of the minor spouse of
any eligible veteran, irrespective of his or her age, in connection with any
transaction entered into pursuant to said act, as amended, is removed for all
purposes in connection with such transaction, including, but not limited to, incurring
of indebtedness or obligations, and acquiring, encumbering, selling, releasing, or
conveying real or personal property or any interest therein, and litigating or settling
controversies arising therefrom if all or a part of any obligations incident to such
transaction is guaranteed or insured by the administrator of veterans affairs
pursuant to such act. This section shall not be construed to impose any other or
greater rights or liabilities than would exist if such person and such spouse were
under no such disability.

(2) A certificate purporting to have been signed by the administrator of
veterans affairs or his or her duly authorized representative stating that all or a part
of any obligations incident to such transaction is guaranteed or insured by the
administrator, when recorded in the proper county, shall be prima facie evidence of
such action by the administrator and shall prima facie be deemed to have been
signed and issued by the administrator or his or her representative pursuant to law,
and the person signing same shall prima facie be deemed to have acted within the
scope of his or her authority.

(3) Notwithstanding any contrary provisions of law, such veteran or the minor
spouse of such veteran shall not, because of his or her age, avoid such contract,
conveyance, obligation, or other transaction entered into pursuant to this section,
nor shall such veteran, or the minor spouse of such veteran hereafter urge the fact
or interpose the defense that he or she is or was a minor in any action arising out of
any loan, conveyance, encumbrance, or other transaction made pursuant to this
section.

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Legislative History

Source: L. 45, 1st Ex. Sess.: p. 64, �� 1, 2. L. 47: pp. 295, 296, �� 1, 2. CSA: C. 18, 40(1). CRS 53: � 143-9-1. C.R.S. 1963: � 144-8-1. L. 2002: Entire section amended, p. 626, � 138, effective May 24.