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Article 13 – Unclaimed Property Act - page 6 / 35

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Article 13 – Unclaimed Property Act

  • (6)

    "Holder" means:

    • (a)

      A person, wherever organized or domiciled, which is:

    • (I)

      In possession of property belonging to another;

  • (II)

    A trustee; or

  • (III)

    Indebted to a person on an obligation;

    • (b)

      The public employees' retirement association.

      • (6.5)

        "Insurance company" means an association, corporation, or fraternal or mutual benefit

organization, whether or not for profit, which is engaged in providing insurance coverage, including accident, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life including endowments and annuities, malpractice, marine, mortgage, surety, or wage protection insurance.

  • (7)

    (a) "Intangible property" includes:

    • (I)

      Moneys, checks, drafts, deposits, interest, dividends, and income;

    • (II)

      Credit balances, customer overpayments, gift certificates, refunds, credit memos, and

unidentified remittances;

  • (III)

    Stocks and other intangible ownership interests in business associations;

  • (IV)

    Moneys deposited to redeem stocks, bonds, coupons, and other securities or to make

distributions;

  • (IV.

    5) Security deposits, unpaid wages, and unused airline tickets;

  • (V)

    Amounts distributable from a trust or custodial fund established under a plan to provide

health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits;

  • (VI)

    Amounts due and payable under the terms of insurance policies;

  • (VII)

    On and after October 1, 2002, any amount due and payable as a refund of Colorado income

tax;

(VIII) On and after August 4, 2004, any amount due and payable as a refund of state taxes refunded pursuant to section 39-22-124, C.R.S.

(b) "Intangible property" does not include unclaimed capital credit payments held by cooperative electric associations and telephone cooperatives, gaming chips or tokens, or gaming award points.

(7.5) "Item" means:

December 2005

Page 2

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