Colorado § 38-13-1003 Rules for conducting examination

Colorado Statutes

§ 38-13-1003 — Rules for conducting examination

Colorado·Title 38 Property -·Art. Revised Uniform Unclaimed Property Act

(1)The administrator shall adopt rules governing procedures and standards for an examination under section 38-13-1002, including rules for use of an estimation, extrapolation, and statistical sampling in conducting an examination.

(2)An examination under section 38-13-1002 must be performed under rules adopted under subsection (1) of this section and with generally accepted examination practices and standards applicable to an unclaimed-property examination.

(3)If a person subject to examination under section 38-13-1002 has filed the reports required by sections 38-13-401 and 38-13-1001 and has retained the records required by section 38-13-404, the following rules apply:

(a)The examination must include a review of the person's records;

(b)The examination must not be based

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(1) The administrator shall
adopt rules governing procedures and standards for an examination under section
38-13-1002, including rules for use of an estimation, extrapolation, and statistical
sampling in conducting an examination.

(2) An examination under section 38-13-1002 must be performed under rules
adopted under subsection (1) of this section and with generally accepted
examination practices and standards applicable to an unclaimed-property
examination.

(3) If a person subject to examination under section 38-13-1002 has filed the
reports required by sections 38-13-401 and 38-13-1001 and has retained the records
required by section 38-13-404, the following rules apply:

(a) The examination must include a review of the person's records;

(b) The examination must not be based on an estimate unless the person
expressly consents in a record to the use of an estimate; and

(c) The person conducting the examination shall consider the evidence
presented in good faith by the person in preparing the findings of the examination
under section 38-13-1007.

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