On payment or delivery of property to the administrator under this article 13, the administrator as agent for the state assumes custody and responsibility for the safekeeping of the property. A holder that pays or delivers property to the administrator in good faith and that substantially complies with sections 38-13-501 and 38-13-502 is relieved of liability arising thereafter with respect to payment or delivery of the property to the administrator.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 432, § 1, effective July 1, 2020.
Structure Colorado Code
Title 38 - Property - Real and Personal
Article 13 - Revised Uniform Unclaimed Property Act
Part 6 - Taking Custody of Property by Administrator
§ 38-13-601. Definition of Good Faith
§ 38-13-603. Payment or Delivery of Property to Administrator
§ 38-13-604. Effect of Payment or Delivery of Property to Administrator
§ 38-13-605. Recovery of Property by Holder From Administrator
§ 38-13-606. Crediting Income or Gain to Owner's Account
§ 38-13-607. Administrator's Options as to Custody
§ 38-13-608. Disposition of Property Having No Substantial Value - Immunity From Liability