§ 38-13-1203 — Action involving another state or foreign country

Colorado § 38-13-1203

• Jurisdiction: Colorado
• Title 38: Property -
• Art.: Revised Uniform Unclaimed Property Act

Text

(1) The
administrator may join another state or foreign country to examine and seek
enforcement of this article 13 against a putative holder.

(2) On request of another state or foreign country, the attorney general may
commence an action on behalf of the other state or country to enforce, in this state,
the law of the other state or country against a putative holder subject to a claim by
the other state or country, if the other state or country agrees to pay costs incurred
by the attorney general in the action.

(3) The administrator may request the official authorized to enforce the
unclaimed property law of another state or foreign country to commence an action
to recover property in the other state or country on behalf of the administrator. This
state shall pay the costs, including reasonable attorney fees and expenses,
incurred by the other state or foreign country in an action under this subsection (3).

(4) The administrator may pursue an action on behalf of this state to recover
property subject to this article 13 but delivered to the custody of another state if
the administrator believes the property is subject to the custody of the
administrator.

(5) The administrator may retain an attorney in this state, another state, or a
foreign country to commence an action to recover property on behalf of the
administrator and may agree to pay attorney fees based in whole or in part on a
fixed fee, hourly fee, or percentage of the amount or value of property recovered in
the action.

(6) Expenses incurred by this state in an action under this section may be
paid from property received under this article 13 or the net proceeds of the
property. Expenses paid to recover property shall not be deducted from the amount
that is subject to a claim under this article 13 by the owner.

Legislative History

Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 453, � 1, effective July 1, 2020.