§ 38-13-102 — Definitions
As used in this article 13, unless the context otherwise requires:
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As used in this article 13, unless the context
otherwise requires:
(1) Administrator means the state treasurer.
(2) Administrator's agent means a person with whom the administrator
contracts to conduct an examination under part 10 of this article 13 on behalf of the
administrator. The term includes an independent contractor of the person and each
individual participating in the examination on behalf of the person or contractor.
(3) Apparent owner means a person whose name appears on the records of
a holder as the owner of property held, issued, or owing by the holder.
(4) Business association means an entity as defined in section 7-90-102
(20), but does not include an investment company registered under the federal
Investment Company Act of 1940, as amended, 15 U.S.C. secs. 80a-1 to 80a-64.
(5) Confidential information means records, reports, and information that
are confidential under section 38-13-1402.
(5.5) Cryptocurrency means a digital currency in which transactions are
verified and records are maintained by a decentralized system using a blockchain
rather than by a centralized authority.
(6) Domicile means:
(a) For a corporation, the state of its incorporation;
(b) For a business association whose formation requires a filing with a state,
other than a corporation, the state of its filing;
(c) For a federally chartered entity or an investment company registered
under the federal Investment Company Act of 1940, as amended, 15 U.S.C. secs.
80a-1 to 80a-64, the state of its home office; and
(d) For any other holder, the state of its principal place of business.
(7) Electronic means relating to technology having electrical, digital,
magnetic, wireless, optical, electromagnetic, or similar capabilities.
(8) Electronic mail means any communication of information by electronic
means that is automatically retained and stored and may be readily accessed or
retrieved.
(9) Financial organization means a savings and loan association, building
and loan association, savings bank, industrial bank, bank, banking organization, or
credit union.
(9.5) Financial organization loyalty card means a record given with or
without direct monetary consideration, under an award, reward, benefit, loyalty,
incentive, rebate, or promotional program established by a financial organization for
purposes of rewarding a relationship with the sponsoring entity. The term includes
a record that may be monetized.
(10) Game-related digital content means digital content that exists only in
an electronic game or electronic-game platform. The term:
(a) Includes:
(I) Game-play currency such as a virtual wallet, even if denominated in
United States currency; and
(II) The following if for use or redemption only within that game or platform
or another electronic game or electronic-game platform:
(A) Points sometimes referred to as gems, tokens, gold, and similar names;
and
(B) Digital codes; and
(b) Does not include an item that the issuer:
(I) Permits to be redeemed for use outside of a game or platform for:
(A) Money; or
(B) Goods or services that have more than minimal value; or
(II) Otherwise monetizes for use outside of a game or platform.
(11) Gift card:
(a) Means a stored-value card:
(I) The value of which does not expire;
(II) That may be decreased in value only by redemption for merchandise,
goods, or services; and
(III) That, unless required by law, may not be redeemed for or converted into
money or otherwise monetized by the issuer; and
(b) Includes a prepaid commercial mobile radio service, as defined in 47 CFR
20.3, as amended.
(12) Holder means a person obligated to hold for the account of, or to
deliver or pay to, the owner property that is subject to this article 13.
(13) Insurance company means an association, corporation, or fraternal or
mutual-benefit organization, whether or not for profit, engaged in the business of
providing life endowments, annuities, or insurance, including accident, burial,
casualty, credit-life, contract-performance, dental, disability, fidelity, fire, health,
hospitalization, illness, life, malpractice, marine, mortgage, surety, wage-protection, and workers' compensation insurance.
(13.3) Legacy preneed contract means a preneed contract, as defined in
section 10-15-102 (13), including both a preneed contract for funeral merchandise
and services and a preneed contract for cemetery merchandise and services, that
was entered into before August 10, 2022.
(13.5) Legacy preneed contract beneficiary means, for any legacy preneed
contract entered into on or after July 1, 1967, any person specified in the legacy
preneed contract upon whose death a final resting place, merchandise, as defined
in section 10-15-102 (1), or services, as defined in section 10-15-102 (16), shall be
provided, delivered, or performed.
(14) Loyalty card means a record given without direct monetary
consideration, under an award, reward, benefit, loyalty, incentive, rebate, or
promotional program, that may be used or redeemed only to obtain goods or
services or a discount on goods or services. The term does not include a record that
may be redeemed for money or otherwise monetized by the issuer.
(15) Mineral means gas, oil, coal, oil shale, other gaseous liquid or solid
hydrocarbon, cement material, sand and gravel, road material, building stone,
chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and
other clay, steam and other geothermal resources, and any other substance defined
as a mineral under Colorado law other than this article 13.
(16) Mineral proceeds means an amount payable for extraction, production,
or sale of minerals or, on the abandonment of the amount, the amount that becomes
payable after abandonment. The term includes an amount payable:
(a) For the acquisition and retention of a mineral lease, including a bonus,
royalty, compensatory royalty, shut-in royalty, minimum royalty, and delay rental;
(b) For the extraction, production, or sale of minerals, including a net
revenue interest, royalty, overriding royalty, extraction payment, and production
payment; and
(c) Under an agreement or option, including a joint operating agreement, unit
agreement, pooling agreement, and farm-out agreement.
(17) Money order means a payment order for a specified amount of money
and includes an express money order and a personal money order on which the
remitter is the purchaser.
(18) Municipal bond means a bond or evidence of indebtedness issued by a
municipality or other political subdivision of a state.
(19) Net card value means the original purchase price or original issued
value of a stored-value card, plus amounts added to the original price or value and
minus amounts used and any service charge, fee, or dormancy charge permitted by
law.
(20) Nonfreely transferable security means a security that cannot be
delivered to the administrator by the Depository Trust Clearing Corporation or a
similar custodian of securities providing post-trade clearing and settlement
services to financial markets or cannot be delivered because there is no agent to
effect transfer. The term includes a worthless security.
(21) Owner means a person that has a legal, beneficial, or equitable
interest in property subject to this article 13 or the person's legal representative
when acting on behalf of the owner. The term includes:
(a) A depositor, for a deposit;
(b) A beneficiary, for a trust other than a deposit in trust;
(c) A creditor, claimant, or payee, for other property; and
(d) The lawful bearer of a record that may be used to obtain money, a reward,
or a thing of value.
(22) Payroll card means a record that evidences a payroll-card account as
defined in Regulation E, 12 CFR Part 1005, as amended.
(23) Person means an individual; estate; business association; public
corporation; government or governmental subdivision, agency, or instrumentality; or
other legal entity.
(24) Property means tangible property described in section 38-13-205 or a
fixed and certain interest in intangible property held, issued, or owed in the course
of a holder's business or by a government, governmental subdivision, agency, or
instrumentality. The term:
(a) Includes all income from or increments to the property;
(b) Includes property referred to as or evidenced by:
(I) Money, virtual currency, interest, dividend, a check, draft, deposit, or
payroll card;
(II) A credit balance, customer's overpayment, stored-value card, security
deposit, refund, credit memorandum, unpaid wage, unused ticket for which the
issuer has an obligation to provide a refund, mineral proceeds, or unidentified
remittance;
(III) A security except for:
(A) A worthless security; or
(B) A security that is subject to a lien, legal hold, or restriction evidenced on
the records of the holder or imposed by operation of law, if the lien, legal hold, or
restriction restricts the holder's or owner's ability to receive, transfer, sell, or
otherwise negotiate the security;
(IV) A bond, debenture, note, or other evidence of indebtedness;
(V) Money deposited to redeem a security, make a distribution, or pay a
dividend;
(VI) An amount due and payable under the terms of an annuity contract or
insurance policy; and
(VII) An amount distributable from a trust or custodial fund established
under a plan to provide health, welfare, pension, vacation, severance, retirement,
death, stock purchase, profit-sharing, employee-savings, supplemental-unemployment insurance, or similar benefits; and
(c) Does not include:
(I) Property held in a plan described in section 529A of the federal Internal
Revenue Code of 1986, as amended, 26 U.S.C. sec. 529A;
(II) Game-related digital content;
(III) A loyalty card;
(IV) A paper certificate that is redeemable upon presentation for goods or
services;
(V) Unclaimed capital credit payments held by cooperative electric
associations and telephone cooperatives; or
(VI) A financial organization loyalty card.
(25) Putative holder means a person believed by the administrator to be a
holder, until the person pays or delivers to the administrator property subject to this
article 13 or the administrator or a court makes a final determination that the
person is or is not a holder.
(26) Record means information that is inscribed on a tangible medium or
that is stored in an electronic or other medium and is retrievable in perceivable
form.
(27) Security means:
(a) A security as defined in section 4-8-102 (15); or
(b) A security entitlement as defined in section 4-8-102 (17), including a
customer security account held by a registered broker-dealer to the extent that the
financial assets held in the security account are not:
(I) Registered on the books of the issuer in the name of the person for which
the broker-dealer holds the assets;
(II) Payable to the order of the person; or
(III) Specifically indorsed to the person; or
(c) An equity interest in a business association not included in subsection
(27)(a) or (27)(b) of this section.
(28) Sign means, with present intent to authenticate or adopt a record:
(a) To execute or adopt a tangible symbol; or
(b) To attach to or logically associate with the record an electronic symbol,
sound, or process.
(29) State means a state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or
insular possession subject to the jurisdiction of the United States.
(30) Stored-value card:
(a) Means a record evidencing a promise made for consideration by the seller
or issuer of the record that goods, services, or money will be provided to the owner
of the record to the value or amount shown in the record;
(b) Includes:
(I) A record that contains or consists of a microprocessor chip, magnetic
strip, or other means for the storage of information, that is prefunded and whose
value or amount is decreased on each use and increased by payment of additional
consideration;
(II) A gift card, except as specified in section 38-13-219; and
(III) A payroll card; and
(c) Does not include a loyalty card, a financial organization loyalty card, or
game-related digital content.
(31) Utility means a person that owns or operates for public use a plant,
equipment, real property, franchise, or license for the following public services:
(a) Transmission of communications or information;
(b) Production, storage, transmission, sale, delivery, or furnishing of
electricity, water, steam, or gas; or
(c) Provision of sewage and septic services or trash, garbage, or recycling
disposal.
(32) Virtual currency means any type of digital representation of value,
including cryptocurrency, that is used as a medium of exchange, unit of account, or
a store of value, but that does not have legal tender status as recognized by the
United States. The term does not include:
(a) The software or protocols governing the transfer of the digital
representation of value;
(b) Game-related digital content;
(c) A loyalty card;
(d) A financial organization loyalty card; or
(e) A gift card.
(33) Worthless security means a security whose cost of liquidation and
delivery to the administrator would exceed the value of the security on the date a
report is due under this article 13.
Colorado § 38-13-102 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.