§ 38-13-1301 — When agreement to locate property enforceable

Colorado § 38-13-1301

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

Text

(1) An
agreement by an apparent owner and another person, the primary purpose of which
is to locate, deliver, recover, or assist in the location, delivery, or recovery of
property held by the administrator, is enforceable only if the agreement:

(a) Is in a record that clearly states the nature of the property and the
services to be provided;

(b) Is signed by or on behalf of the apparent owner;

(c) States the amount or value of the property reasonably expected to be
recovered, computed before and after a fee or other compensation to be paid to the
person has been deducted; and

(d) States that the apparent owner may directly file a claim for property with
the administrator of a state's unclaimed property act, who in Colorado is the state
treasurer, without being charged a fee by the administrator.

Legislative History

Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 454, � 1, effective July 1, 2020.