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2020 Colorado Revised Statutes
Title 38 - Property - Real And Personal
Article 13. Revised Uniform Unclaimed Property Act
Section 38-13-602. Dormancy charge.

Universal Citation: CO Rev Stat § 38-13-602 (2020)
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(1) A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if:

  1. A valid contract between the holder and the apparent owner authorizes imposition ofthe charge for the apparent owner's failure to claim the property within a specified time; and

  2. The holder regularly imposes the charge and regularly does not reverse or otherwisecancel the charge.

(2) The amount of the deduction under subsection (1) of this section is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner.

Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 431, § 1, effective July 1, 2020.

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