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Colorado Revised Statutes Title 38. Property Real and Personal § 38-13-601. Definition of good faith

Current as of January 01, 2022 | Updated by FindLaw Staff

(1) In this part 6, payment or delivery of property is made in good faith if a holder:

(a) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the administrator under this article 13; or

(b) Made payment or delivery:

(I) In response to a demand by the administrator or administrator's agent; or

(II) Under a guidance or ruling issued by the administrator that the holder reasonably believed required or permitted the property to be paid or delivered.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 38. Property Real and Personal § 38-13-601. Definition of good faith - last updated January 01, 2022 | https://codes.findlaw.com/co/title-38-property-real-and-personal/co-rev-st-sect-38-13-601/

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