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2020 Colorado Revised Statutes
Title 38 - Property - Real And Personal
Article 13. Revised Uniform Unclaimed Property Act
Section 38-13-601. Definition of good faith.
Universal Citation: CO Rev Stat § 38-13-601 (2020)
(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:
In response to a demand by the administrator or administrator's agent; or
Under a guidance or ruling issued by the administrator that the holder reasonablybelieved required or permitted the property to be paid or delivered.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 431, § 1, effective July 1, 2020.
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