If the public trustee fails to meet the time requirements set forth in section 38-38-102 (1), 38-38-103 (1), or 38-38-501, the foreclosure sale and confirmation deed shall be valid notwithstanding such failure, and the public trustee shall forfeit five percent of the public trustee's fees provided for in section 38-37-104 (1)(b)(I) and (1)(b)(V) for each day the public trustee fails to meet the time requirements, and, if the fees have already been paid, the forfeited portion thereof shall be returned immediately to the person who paid them.
Source: L. 90: Entire article R&RE, p. 1652, § 1, effective October 1. L. 2006: Entire section amended, p. 1480, § 37, effective January 1, 2008.
Structure Colorado Code
Title 38 - Property - Real and Personal
Article 37 - Office of Public Trustee
§ 38-37-101. Creation of the Office of Public Trustee
§ 38-37-102. Appointment - Bond - Office
§ 38-37-103. Deputy Trustee - Successor in Office
§ 38-37-104. Duties of Public Trustees - Fees, Expenses, and Salaries - Reports
§ 38-37-106. Public Trustee to Act as Successor in Trust - Additional Duties
§ 38-37-107. Fees Under Successor Trusteeship
§ 38-37-108. Payments to Public Trustee - Electronic Transfers - Definition
§ 38-37-109. Suits Against Public Trustee
§ 38-37-111. Public Trustees Authorized to Cooperate and Contract With One Another and Others
§ 38-37-112. Powers of Public Trustees When Counties Are Formed or When County Boundaries Change