§ 35-50-121 — Rights of secured parties

Each secured party, whose security
interest in the subject livestock appears in the list of effective filings as maintained
by the central filing officer pursuant to the Central Filing of Effective Financing
Statement Act, article 9.5 of title 4, C.R.S., prior to the commissioner's payment to
the owner of any excess sales proceeds pursuant to section 35-50-109 (7); prior to
the issuance to the owner of the state's certificate of indebtedness pursuant to
section 35-50-114 (1); or prior to the commissioner's authorization of payment of
indemnity pursuant to section 35-50-114 (2) shall have a right to the proceeds of
any such payment or indemnity or to such certificate of indebtedness, which is prior
to that of the owner, and the commissioner or the governor, as the case may be,
shall cause the foregoing to be paid or issued jointly to each such secured party
and to the owner.

Legislative History

Source: L. 2005: Entire article R&RE, p. 461, � 1, effective December 1.