Colorado § 38-13-902 When property subject to recovery by another state

Colorado Statutes

§ 38-13-902 — When property subject to recovery by another state

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

(1)Property held by the administrator under this article 13 is subject to the right of another state to take custody of the property if:

(a)The property was paid or delivered to the administrator because the records of the holder did not reflect a last-known address in the other state of the apparent owner and:

(I)The other state establishes that the last-known address of the apparent owner or other person entitled to the property was in the other state; or

(II)Under the law of the other state, the property has become subject to a claim of abandonment by the other state;

(b)The records of the holder did not accurately identify the owner of the property, the last-known address of the owner was in another state, and, under the law of the other state, the property has become

Free access — add to your briefcase to read the full text and ask questions with AI

(1)
Property held by the administrator under this article 13 is subject to the right of
another state to take custody of the property if:

(a) The property was paid or delivered to the administrator because the
records of the holder did not reflect a last-known address in the other state of the
apparent owner and:

(I) The other state establishes that the last-known address of the apparent
owner or other person entitled to the property was in the other state; or

(II) Under the law of the other state, the property has become subject to a
claim of abandonment by the other state;

(b) The records of the holder did not accurately identify the owner of the
property, the last-known address of the owner was in another state, and, under the
law of the other state, the property has become subject to a claim of abandonment
by the other state;

(c) The property was subject to the custody of the administrator of this state
under section 38-13-305 and, under the law of the state of domicile of the holder,
the property has become subject to a claim of abandonment by the state of
domicile of the holder; or

(d) The property:

(I) Is a sum payable on a traveler's check, money order, or similar instrument
that was purchased in the other state and delivered to the administrator under
section 38-13-306; and

(II) Under the law of the other state, has become subject to a claim of
abandonment by the other state.

(2) A claim by another state to recover property under this section must be
presented in a form prescribed by the administrator unless the administrator waives
presentation of the form.

(3) The administrator shall decide a claim under this section not later than
ninety days after it is presented. If the administrator determines that the other
state is entitled under subsection (1) of this section to custody of the property, the
administrator shall allow the claim and pay or deliver the property to the other
state.

(4) The administrator may require another state, before recovering property
under this section, to agree to indemnify this state and its officers and employees
against any liability on a claim to the property.

Colorado § 38-13-902 (When property subject to recovery by another state) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.