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Article 13 – Unclaimed Property Act

property set forth in this section shall not apply to any agreement to pay compensation to recover or assist in the recovery of property reported under section 38-13-110 if such property has a total value of less than one thousand dollars.

Source: L. 87: Entire article added, p. 1331, § 1, effective July 1. L. 92: Entire section amended, p. 2113, § 13, effective March 4. L. 95: Entire section amended, p. 528, § 12, effective May 16. L. 98: Entire section amended, p. 106, § 1, effective August 5.

38-13-129. Foreign transactions.

This article does not apply to any property held, due, and owing in a foreign country and arising out of a foreign transaction.

Source: L. 87: Entire article added, p. 1331, § 1, effective July 1.

38-13-130. Effect of new provisions - clarification of application.

(1) This article does not relieve a holder of a duty that arose before July 1, 1987, to report, pay, or deliver property. A holder who did not comply with the law in effect before July 1, 1987, is subject to the applicable enforcement and penalty provisions that then existed, and they are continued in effect for the purpose of this subsection (1), subject to section 38-13-122 (2).

(2) (a) The initial report filed under this article for property that was not required to be reported before July 1, 1987, but that is subject to this article must include all items of property for which the presumption of abandonment first arose during the five-year period preceding July 1, 1987, as if this article had been in effect during that period.

(b) The initial report filed under this article for property that was not required to be reported before July 1, 1992, but that is subject to this article must include all items of property for which the presumption of abandonment first arose during the five-year period preceding July 1, 1992, as if this article had been in effect during that period. Any person who has not reported as of July 1, 1992, shall not be penalized for not reporting prior to November 1, 1993.

Source: L. 87: Entire article added, p. 1331, § 1, effective July 1. L. 92: (2) amended, p. 2120, § 9, effective July 1; (2)(b) amended, p. 1077, § 9, effective July 1. L. 95: (2) amended, p. 528, § 13, effective July 1.

38-13-131. Rules.

The administrator shall adopt rules and regulations pursuant to section 24-4-103, C.R.S., to effectuate the purposes of this article.

Source: L. 87: Entire article added, p. 1331, § 1, effective July 1.

38-13-132. Uniformity of application and construction.

This article shall be applied and construed so as to effectuate its general purpose to make uniform the law with respect to the subject of this article among states enacting similar legislation.

Source: L. 87: Entire article added, p. 1331, § 1, effective July 1.

December 2005

Page 30

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