X hits on this document

PDF document

Article 13 – Unclaimed Property Act - page 28 / 35

121 views

0 shares

0 downloads

0 comments

28 / 35

Article 13 – Unclaimed Property Act

Editor's note: This section was contained in a 2005 act that was passed without a safety clause. For further explanation concerning the effective date, see page vii of this volume.

38-13-117.7. Claims offset for state tax delinquencies.

(1) Before paying a claim in an amount exceeding six hundred dollars pursuant to section 38-13- 117 (3), the administrator shall compare the social security number or federal employer identification number of the claimant with the numbers certified by the department of revenue for the purpose of the unclaimed property offset as provided in section 39-21-121, C.R.S.

(2) If the social security number or federal employer identification number of a claimant appears among the numbers certified by the department of revenue pursuant to section 39-21-121, C.R.S., the administrator shall suspend the payment of the claim until the requirements of section 39-21-121, C.R.S., are met. If, after consulting with the department, the administrator determines that the claimant is obligated to pay the amounts certified under section 39-21-121, C.R.S., the administrator shall withhold from the amount of the unclaimed property paid to the claimant an amount equal to the amount of delinquent state taxes, penalties, or interest. If the amount of the unclaimed property is less than or equal to the amount of delinquent state taxes, penalties, or interest, the administrator shall withhold the entire amount of the unclaimed property. The administrator shall transmit any unclaimed property so withheld to the department for disbursement as directed in section 39-21-121, C.R.S.

(3) If a claimant owes delinquent state taxes, penalties, or interest as described in this section and also owes current child support, child support debt, retroactive child support, child support arrearages, child support costs, or child support when combined with maintenance as described in section 38-13- 117.3 or restitution or fines, fees, costs, or surcharges as described in section 38-13-117.5, or both, the unclaimed property offset shall be applied in accordance with the priority set forth in section 38-13- 117.3 (2).

Source: L. 2005: Entire section added, p. 700, § 5, effective August 8.

Editor's note: This section was contained in a 2005 act that was passed without a safety clause. For further explanation concerning the effective date, see page vii of this volume.

38-13-118. Claim of another state to recover property - procedure.

(1) At any time after property has been paid or delivered to the administrator under this article, another state may recover the property if:

(a) The property was subjected to custody by this state because the records of the holder did not reflect the last-known address of the apparent owner when the property was presumed abandoned under this article and the other state establishes that the last-known address of the apparent owner or other person entitled to the property was in that state and that, under the laws of that state, the property escheated to or was subject to a claim of abandonment by that state;

(b) The last-known address of the apparent owner or other person entitled to the property, as reflected by the records of the holder, is in the other state and, under the laws of that state, the property has escheated to or become subject to a claim of abandonment by that state;

(c) The records of the holder were erroneous in that they did not accurately reflect the actual owner of the property and the last-known address of the actual owner is in the other state and, under the laws of that state, the property escheated to or was subject to a claim of abandonment by that state;

December 2005

Page 24

Document info
Document views121
Page views121
Page last viewedFri Dec 09 14:30:16 UTC 2016
Pages35
Paragraphs707
Words16475

Comments