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Colorado Revised Statutes Title 38. Property Real and Personal § 38-13-1504. Application of article--local government--exemption--notice of property

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Except as otherwise provided in this section, the provisions of this article 13 do not apply to a local government that is a holder of property if:

(a) The local government has a local ordinance or resolution relating to the disposition of property that conflicts with this article 13;

(b) The local ordinance or resolution described in subsection (1)(a) of this section requires the local government to hold the property for the owner for at least five years after the date it is presumed abandoned under section 38-13-201(1)(j); and

(c) The local government provides the administrator with the information described in subsection (2) of this section in the same electronic format as a holder is required to use to report unclaimed property.

(2) To satisfy subsection (1)(c) of this section, a local government must provide the administrator with the following information on or before November 1 of each year:

(a) An alphabetical list of the owners for whom the local government holds property that is presumed abandoned under section 38-13-201(1)(j); and

(b) The value of the abandoned property that the exempt local government holds for each owner.

(3) The administrator shall include the information received in accordance with subsection (2) of this section, along with a statement that a person claiming to be the owner must file a claim for the property with the specific local government that has the property, as part of the website or database maintained under section 38-13-503(3).

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 38. Property Real and Personal § 38-13-1504. Application of article--local government--exemption--notice of property - last updated January 01, 2025 | https://codes.findlaw.com/co/title-38-property-real-and-personal/co-rev-st-sect-38-13-1504/

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