§ 38-30-172 — Evidence of existence and authority - definitions

(1) Prima
facie evidence of the existence of an entity and the authority of one or more
persons to act on behalf of an entity to convey, encumber, or otherwise affect title
to real property may be shown as provided in this section.

(2) As used in this section, unless the context otherwise requires:

(a) Entity means a person as defined in section 2-4-401, C.R.S., other than
an individual, capable of holding title to real property.

(b) Entity description means the type of entity and may also include the
name of the state, country, or other governmental authority under whose laws it
was formed.

(c) Recorded means recorded with the county clerk and recorder of the
county in which the real property is situated.

(d) Statement of authority means an instrument executed on behalf of the
entity that contains:

(I) The name of the entity;

(II) The type of entity and the state, country, or other governmental authority
under whose laws it was formed;

(III) A mailing address for the entity; and

(IV) The name or position of the person authorized to execute instruments
conveying, encumbering, or otherwise affecting title to real property on behalf of
the entity.

(3) Prima facie evidence of the existence of an entity that executed a
recorded instrument purporting to convey, encumber, or otherwise affect title to
real property may be shown by any one or more of the following recorded
instruments:

(a) The instrument itself, if that instrument uses the same name and the
same entity description, if any, as appeared in the instrument by which the entity
purported to acquire title to the real property or any part thereof or any interest
therein; or

(b) Another instrument that is required by law to be recorded to enable the
entity to hold or convey title to real property; or

(c) Another instrument that is permitted by law to be recorded, that names
the entity and gives the entity description of the entity and, that by law is prima
facie evidence of the facts recited in the instrument insofar as such facts affect
title to real property.

(4) Prima facie evidence of the authority of the person that executed an
instrument on behalf of an entity purporting to convey, encumber, or otherwise
affect title to real property may be shown by any one or more of the following
recorded instruments:

(a) An instrument that is required or permitted by law to be recorded in order
to evidence the authority of one or more persons by name or by position to execute
instruments conveying, encumbering, or otherwise affecting title to real property
on behalf of the entity; or

(b) A certified copy of an instrument on file with any agency or department
of any state, country, or other governmental authority that evidences the authority
of one or more persons by name or by position to execute instruments conveying,
encumbering, or otherwise affecting title to real property on behalf of the entity; or

(c) A statement of authority.

(5) A statement of authority may contain any limitation as may exist upon the
authority of the person named in the statement or holding the position described in
the statement to bind the entity and any other matters concerning the manner in
which the entity deals with any interest in real property. Upon recording, a
statement of authority shall constitute prima facie evidence of the facts recited in
the statement of authority insofar as the facts affect title to real property and
prima facie evidence of the authority of the person executing the statement of
authority to execute and record the statement of authority on behalf of the entity.

(6) Any recorded instrument described in subsection (4) of this section may
be amended or superseded by the recording of a subsequent instrument of the type
described in subsection (4) of this section. The absence of any limitation described
in subsection (5) of this section in a recorded instrument described in subsection (4)
of this section shall be prima facie evidence that no such limitations exist.

Legislative History

Source: L. 97: Entire section added, p. 1525, � 23, effective June 3. L. 98: IP(3), IP(4), and (5) amended, p. 627, � 39, effective July 1.