2018 Colorado Revised Statutes
Title 38 - Property - Real and Personal
Article 26 - Contractor's Bonds and Lien on Funds
§ 38-26-110. Excessive amounts claimed

  • (1) Any person who files a verified statement of a claim or asserts a claim against a principal or surety that has furnished a bond under this article for an amount greater than the amount due without a reasonable possibility that the amount claimed is due and with the knowledge that the amount claimed is greater than the amount due, and that fact is demonstrated in any proceedings under this article, shall forfeit all rights to the amount claimed and shall be liable to the following in an amount equal to all costs and all attorney fees reasonably incurred in bonding over, contesting, or otherwise responding in any way to the excessive verified statement of claim or excessive bond claim:

    • (a) The person to whom or which a disbursement would be made but for the verified statement of a claim or bond claim; or

    • (b) The principal and surety on the bond.

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