Colorado Elevator & Conveyance Licensing Law

Colorado Code · 349 sections

The following is the full text of Colorado’s elevator & conveyance licensing law statutes as published in the Colorado Code. For the official version, see the Colorado Legislature.

C.R.S. § 10-14-305

10-14-305. Consolidations and mergers. (1) A domestic society may consolidate or merge with any other society by complying with the provisions of this section. It shall file with the commissioner:

(a)  A certified copy of the written contract containing in full the terms and

conditions of the consolidation or merger;

(b)  A sworn statement by the president and secretary or corresponding

officers of each society showing the financial condition thereof on a date fixed by the commissioner but not earlier than the society's most recent financial report required pursuant to section 10-14-602;

(c)  A certificate of such officers, duly verified by their respective oaths, that

the consolidation or merger has been approved by a two-thirds vote of the supreme governing body of each society, such vote being conducted at a regular or special meeting of each such body, or, if the society's governing documents so permit, by mail;

(d)  Evidence that at least sixty days prior to the action of the supreme

governing body of each society, the text of the contract has been furnished to all members of each society either by mail or by publication in full in the official publication of each society; and

(e)  Any other information deemed necessary by the commissioner.


(2)  If the commissioner finds that the contract is in conformity with the

provisions of this section, that the financial statements are correct, and that the consolidation or merger is just and equitable to the members of each, the commissioner shall approve the contract and issue a certificate to such effect. Upon such approval, the contract shall be in full force and effect unless any society which is a party to the contract is incorporated under the laws of any other state or territory. In such event the consolidation or merger shall not become effective unless and until it has been approved as provided by the statutes of such state or territory and a certificate of such approval filed with the commissioner of this state or, if the statutes of such state or territory contain no such provision, then the consolidation or merger shall not become effective unless and until it has been approved by the commissioner or equivalent regulatory agency of such state or territory and a certificate of such approval filed with the commissioner of this state. In case such contract is not approved, it shall be inoperative, and the fact of its submission and its contents shall not be disclosed by the commissioner.

(3)  Upon the consolidation or merger becoming effective as provided in this

section, all the rights, franchises, interests, duties, and liabilities of the consolidated or merged societies in and to every species of property, real, personal, or mixed, and things in action thereunto belonging shall be vested in the society resulting from or remaining after the consolidation or merger without any other instrument; except that conveyances of real property may be evidenced by proper deeds, and the title to any real estate or interest therein vested under the laws of this state in any of the societies consolidated or merged shall not revert or be in any way impaired by reason of the consolidation or merger but shall vest absolutely in the society resulting from or remaining after such consolidation or merger.

(4)  The affidavit of any officer of the society or of anyone authorized by it to

mail any notice or document stating that such notice or document has been duly addressed and mailed shall be prima facie evidence that such notice or document has been furnished the addressees.

Source: L. 93: Entire article amended with relocations, p. 595, � 1, effective

July 1. L. 94: (1)(b) amended, p. 1629, � 25, effective May 31.

Editor's note: This section is similar to former � 10-14-115 (1) as it existed prior

to 1993.

C.R.S. § 10-2-705

10-2-705. Bail bond documents - requirements - rules. (1) The insurance producer who posts a bail bond with the court on behalf of a defendant shall ensure that the following documents comply with the following provisions:

(a)  An indemnity agreement must:


(I)  Be in writing;


(II)  Be signed by the producer;


(III)  Be signed by the defendant or indemnitor;


(IV)  Set forth the amount of bail set in the case, the name of the defendant

released on the bail bond, the court case number if available, the court where the bond is executed, the premium charged, the amount and type of collateral held by the insurance producer, and the conditions under which the collateral is returned;

(V)  Contain documentation that the indemnitor has received copies of signed

and dated disclosure forms; and

(VI)  If the defendant or indemnitor is illiterate or does not read English,

contain a note on the indemnity agreement that the producer or a third party has read or translated the agreement to the defendant or indemnitor and be affixed with an affidavit to the indemnity agreement attesting that the document was translated;

(b)  A promissory note must be:


(I)  In writing;


(II)  Signed by the producer; and


(III)  Signed by the defendant or indemnitor;


(c)  A collateral receipt must:


(I)  Be dated;


(II)  Be in writing;


(III)  Be signed by the producer;


(IV)  Be signed by the defendant or indemnitor;


(V)  Be prenumbered;


(VI)  Contain a full description of the collateral, including the condition of the

collateral at the time it is taken into custody; and

(VII)  Set forth the amount of bail set in the case, the name of the defendant

released on the bail bond, the court case number, the court where the bond is executed, the premium charged, the amount and type of collateral held by the insurance producer, and the conditions under which the collateral is returned;

(d)  A bail bond revocation request must be:


(I)  Dated;


(II)  In writing;


(III)  Signed by the producer; and


(IV)  Signed by the defendant or indemnitor.


(2) (a)  Before accepting consideration, the insurance producer who writes

bail bonds shall commit to writing, sign, date, and obtain the defendant's or indemnitor's signature on an arrangement for the payment of all or part of the premium, commission, or fee, including the payment schedule. The signature of the insurance producer who writes bail bonds is not an obligation to pay any debt owed to a lender. To be enforceable, interest and financial charges on any unpaid premium must comply with the Uniform Consumer Credit Code, articles 1 to 9 of title 5, C.R.S.

(b)  Before accepting consideration or taking collateral, the insurance

producer who writes bail bonds shall provide, in a form prescribed by the commissioner, a disclosure statement to each defendant and indemnitor detailing the terms of the bail bond.

(3) (a)  An insurance producer who posts a bail bond with the court and who

accepts consideration for a bail bond or undertaking shall, for each payment received, provide to the person tendering payment a prenumbered, signed receipt containing the following:

(I)  The date;


(II)  The defendant's name;


(III)  A description of the consideration and amount of money received;


(IV)  The purpose for which it was received;


(V)  The number of any power-of-attorney form attached to the bail bond;


(VI)  The penal sum of the bail bond;


(VII)  The name of the person tendering payment; and


(VIII)  The terms under which the money or other consideration is released.


(b)  The insurance producer who posts a bail bond with the court shall provide

the person tendering payment a signed and dated receipt for each premium payment listing the amount paid.

(3.5) (a)  If the bond is to be secured by real estate, the bail bonding agent

shall provide the property owner with a written disclosure statement in the following form at the time an initial application is filed:

Disclosure of lien against real property

Do not sign this document until you read and understand it This bail bond will be secured by real property you own or in which you have an interest. Failure to pay the bail bond premiums when due or the defendant's failure to comply with the conditions of bail could result in the loss of your property

(b)  The disclosure required in paragraph (a) of this subsection (3.5) shall be

printed in fourteen-point, bold-faced type either:

(I)  On a separate and specific document attached to or accompanying the

application; or

(II)  In a clear and conspicuous statement on the face of the application.


(c)  Before a property owner executes any instrument creating a lien against

real property, the bail bonding agent shall provide the property owner with a completed copy of the instrument creating the lien against real property and the disclosure statement described in paragraph (a) of this subsection (3.5). If a bail bonding agent fails to comply fully with the requirements of paragraphs (a) and (b) of this subsection (3.5) and this paragraph (c), any instrument creating a lien against real property shall be voidable.

(d)  The bonding agent shall deliver to the property owner a fully executed

and notarized reconveyance of title, a certificate of discharge, or a full release of any lien against real property that secures performance of the conditions of a bail bond within thirty-five days after receiving notice that the time for appealing an order that exonerated the bail bond has expired. The bonding agent shall also deliver to the property owner the original canceled note as evidence that the indebtedness secured by any lien instrument has been paid or that the purposes of said instrument have been fully satisfied and the original deed of trust, security agreement, or other instrument that secured the bail bond obligation. If a timely notice of appeal is filed, the thirty-five-day period shall begin on the day the appellate court's affirmation of the order becomes final. If the bonding agent fails to comply with the requirements of this paragraph (d), the property owner may petition the district court to issue an order directing the clerk of such court to execute a full reconveyance of title, a certificate of discharge, or a full release of any lien against real property created to secure performance of the conditions of the bail bond. The petition shall be verified and shall allege facts showing that the bonding agent has failed to comply with the provisions of this paragraph (d).

(e)  Any bail bonding agent who violates this subsection (3.5) is liable to the

property owner for all damages that may be sustained by reason of the violation, plus statutory damages in the sum of three hundred dollars. The property owner shall be entitled to recover court costs and reasonable attorney fees, as determined by the court, upon prevailing in any action brought to enforce the provisions of this subsection (3.5).

(4)  The insurance producer shall prepare or execute separate agreements

and documents for each time the producer posts a bail bond with the court. The producer shall give the indemnitor a copy of each document executed in the course of the bail bond transaction.

(5)  For three years after the date of discharge of a bail bond and return of

any collateral or proof of notice to the defendant or indemnitor that any promissory note has been satisfied, the insurance producer who posts the bail bond with the court shall keep at the producer's business copies of each receipt, indemnity agreement, bond, disclosure statement, payment plan, bond revocation request, or other document or information related to the bond transaction the commissioner reasonably requires by rule and shall make these documents available for inspection by the commissioner or the commissioner's authorized representative during normal business hours.

(6)  The indemnitor may be the defendant.


(7)  The commissioner may examine the business practices, books, and

records of any insurance producer as often as the commissioner deems appropriate.

Source: L. 2012: Entire section added, (HB 12-1266), ch. 280, p. 1498, � 16,

effective July 1. L. 2013: (3.5) added, (HB 13-1236), ch. 202, p. 840, � 6, effective May 11.

C.R.S. § 10-23-108

10-23-108. Bail bond documents - requirements - rules. (1) The professional cash-bail agent or cash-bonding agent who posts a bail bond with the court on behalf of a defendant shall ensure that the following documents comply with the following provisions:

(a)  An indemnity agreement must:


(I)  Be in writing;


(II)  Be signed by the professional cash-bail agent or cash-bonding agent;


(III)  Be signed by the defendant or indemnitor;


(IV)  Set forth the amount of bail set in the case, the name of the defendant

released on the bail bond, the court case number if available, the court where the bond is executed, the premium charged, the amount and type of collateral held by the professional cash-bail agent or cash-bonding agent, and the conditions under which the collateral is returned;

(V)  Contain documentation that the indemnitor has received copies of signed

and dated disclosure forms; and

(VI)  If the defendant or indemnitor is illiterate or does not read English,

contain a note on the indemnity agreement that the agent or a third party has read or translated the agreement to the defendant or indemnitor and be affixed with an affidavit to the indemnity agreement attesting that the document was translated;

(b)  A promissory note must be:


(I)  In writing;


(II)  Signed by the professional cash-bail agent or cash-bonding agent; and


(III)  Signed by the defendant or indemnitor;


(c)  A collateral receipt must:


(I)  Be dated;


(II)  Be in writing;


(III)  Be signed by the professional cash-bail agent or cash-bonding agent;


(IV)  Be signed by the defendant or indemnitor;


(V)  Be prenumbered;


(VI)  Contain a full description of the collateral, including the condition of the

collateral at the time it is taken into custody; and

(VII)  Set forth the amount of bail set in the case, the name of the defendant

released on the bail bond, the court case number, the court where the bond is executed, the premium charged, the amount and type of collateral held by the agent, and the conditions under which the collateral is returned;

(d)  A bail bond revocation request must be:


(I)  Dated;


(II)  In writing;


(III)  Signed by the professional cash-bail agent or cash-bonding agent; and


(IV)  Signed by the defendant or indemnitor.


(2) (a)  Before accepting consideration, the professional cash-bail agent or

cash-bonding agent shall commit to writing, sign, date, and obtain the defendant's or indemnitor's signature on an arrangement for the payment of all or part of the premium, commission, or fee, including the payment schedule. The signature of the professional cash-bail agent or cash-bonding agent is not an obligation to pay any debt owed to a lender. To be enforceable, interest and financial charges on any unpaid premium must comply with the Uniform Consumer Credit Code, articles 1 to 9 of title 5, C.R.S.

(b)  Before accepting consideration or taking collateral, the professional

cash-bail agent or cash-bonding agent shall provide, in a form prescribed by the commissioner, a disclosure statement to each defendant and indemnitor detailing the terms of the bail bond.

(3) (a)  A professional cash-bail agent or cash-bonding agent who accepts

consideration for a bail bond or undertaking shall, for each payment received, provide to the person tendering payment a prenumbered, signed receipt containing the following:

(I)  The date;


(II)  The defendant's name;


(III)  A description of the consideration and amount of money received;


(IV)  The purpose for which it was received;


(V)  The penal sum of the bail bond;


(VI)  The name of the person tendering payment; and


(VII)  The terms under which the money or other consideration is released.


(b)  The professional cash-bail agent or cash-bonding agent shall provide the

person tendering payment a signed and dated receipt for each premium payment listing the amount paid.

(3.5) (a)  If the bond is to be secured by real estate, the bail bonding agent

shall provide the property owner with a written disclosure statement in the following form at the time an initial application is filed:

Disclosure of lien against real property

(b)  The disclosure required in paragraph (a) of this subsection (3.5) shall be

printed in fourteen-point, bold-faced type either:

(I)  On a separate and specific document attached to or accompanying the

application; or

(II)  In a clear and conspicuous statement on the face of the application.


(c)  Before a property owner executes any instrument creating a lien against

(d) (I)  The bonding agent shall deliver to the property owner a fully executed

(II)  If the bonding agent fails to comply with the requirements of this

subsection (3.5)(d), the property owner may petition the district court to issue an order directing the clerk of the court to execute a full reconveyance of title, a certificate of discharge, or a full release of any lien against real property created to secure performance of the conditions of the bail bond. To be accepted by the court, the petition must be verified and allege facts showing that the bonding agent has failed to comply with the provisions of this subsection (3.5)(d).

(III) (A)  If a bonding agent fails to comply with this subsection (3.5)(d), the

property owner may file a complaint with the commissioner requesting that the commissioner petition a district court to file for record a full release of any lien against real property securing performance of the conditions of the bail bond.

(B)  To be accepted by the commissioner, the complaint must be verified and

allege facts showing that the bonding agent has failed to comply with this subsection (3.5)(d). The complaint must include a copy of the lien the property owner is requesting be released.

(C)  Upon receipt of a verified complaint meeting the requirements of

subsection (3.5)(d)(III)(B) of this section, the commissioner shall mail a copy of the complaint to the bonding agent at the bonding agent's last-known address.

(D)  If the time for appealing an order that exonerated the bail bond has

expired at least three years before the complaint is filed, and if the commissioner does not receive a reply from the bonding agent contesting the release of the lien within thirty-five days after mailing the complaint required in subsection (3.5)(d)(III)(C) of this section, the commissioner may petition the district court to issue an order directing the clerk of the court to execute a full reconveyance of title, a certificate of discharge, or a full release of any lien against real property created to secure performance of the conditions of the bail bond. Upon the court issuing an order executing a full reconveyance of title, issuing a certificate of discharge, or releasing the lien, the commissioner shall send a copy of the lien release documents to the bonding agent.

(E)  If the commissioner receives, within thirty-five days after mailing the

complaint to the bonding agent, a reply from the bonding agent contesting the factual basis of the property owner's complaint, the commissioner shall inform the property owner that the property owner must petition the district court to release the lien.

(e)  Any bail bonding agent who violates this subsection (3.5) shall be liable

to the property owner for all damages that may be sustained by reason of the violation, plus statutory damages in the sum of three hundred dollars. The property owner shall be entitled to recover court costs and reasonable attorney fees, as determined by the court, upon prevailing in any action brought to enforce the provisions of this subsection (3.5).

(4)  The professional cash-bail agent or cash-bonding agent shall prepare or

execute separate agreements and documents for each time the agent posts a bail bond with the court. The agent shall give the indemnitor a copy of each document executed in the course of the bail bond transaction.

(5)  For three years after the date of discharge of a bail bond and return of

any collateral or proof of notice to the defendant or indemnitor that any promissory note has been satisfied, the professional cash-bail agent or cash-bonding agent shall keep at the agent's business, copies of each receipt, indemnity agreement, bond, disclosure statement, payment plan, bond revocation request, or other document or information related to the bond transaction and shall make these documents available for inspection by the commissioner or the commissioner's authorized representative during normal business hours.

(6)  The indemnitor may be the defendant.


(7)  The commissioner may examine the business practices, books, and

records of any professional cash-bail agent or cash-bonding agent as often as the commissioner deems appropriate.

Source: L. 2012: Entire article added with relocations, (HB 12-1266), ch. 280,

p. 1522, � 41, effective July 1. L. 2013: (3.5) added, (HB 13-1236), ch. 202, p. 842, � 9, effective May 11. L. 2017: (3.5)(d) amended, (SB 17-236), ch. 312, p. 1678, � 3, effective August 9.

C.R.S. § 10-3-1701

10-3-1701. Definitions. As used in this part 17, unless the context otherwise requires:

(1)  Asset means property, whether real, personal, mixed, tangible, or

intangible, and any right or interest in the property, including all rights under a contract or other agreement.

(2)  Capital means the capital stock component of a statutory surplus, as

defined in the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual, version effective January 1, 2001, as revised.

(3) (a)  Contract holder means the owner of an annuity contract.


(b)  Contract holder does not mean a certificate holder of a group annuity

contract or any other covered person thereunder.

(4)  Divide or division means the act by operation of law by which a

domestic stock insurer splits into two or more resulting domestic stock insurers in accordance with a plan of division and this part 17.

(5)  Dividing insurer means a domestic stock insurer that approves a plan of

division.

(6)  Domestic stock insurer means an insurance company that has capital

stock and is incorporated under the laws of this state.

(7)  Liability means any liability or obligation arising in any manner.


(8)  Plan of division means a plan of division that is approved by a dividing

insurer pursuant to section 10-3-1707.

(9) (a)  Policyholder means the owner of an insurance policy.


(b)  Policyholder does not mean a certificate holder of a group insurance

policy or any other covered person thereunder.

(10)  Resulting insurer means a dividing domestic stock insurer that survives

a division or a new domestic stock insurer that is created by a division.

(11)  Shareholder means:


(a)  A person in whose name shares are registered in the records of a

corporation; or

(b)  The beneficial owner of shares to the extent of the rights granted by a

nominee certificate on file with a corporation.

(12)  Surplus means the total statutory surplus minus capital, calculated in

accordance with the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual, version effective January 1, 2001, as revised.

(13)  Transfer means an assignment; assumption; conveyance; sale; lease;

encumbrance, including a mortgage or security interest; gift; or transfer by operation of law.

Source: L. 2021: Entire part added, (HB 21-1013), ch. 144, p. 843, � 1, effective

September 7.

C.R.S. § 10-3-502

10-3-502. Definitions. As used in this part 5, unless the context otherwise requires:

(1)  Ancillary state means any state other than a domiciliary state.


(2)  Creditor means a person having any claim, whether matured or

unmatured, liquidated or unliquidated, secured or unsecured, fixed or contingent, or absolute.

(3)  Delinquency proceeding means any proceeding instituted against an

insurer for the purpose of liquidating, rehabilitating, reorganizing, or conserving such insurer.

(4)  Doing business includes any of the following acts, whether effected by

mail or otherwise:

(a)  Issuing or delivering contracts of insurance to persons resident in this

state;

(b)  Soliciting applications for such contracts or other negotiations

preliminary to the execution of such contracts;

(c)  Collecting premiums, membership fees, assessments, or other

consideration for such contracts;

(d)  Transacting matters subsequent to execution of such contracts and

arising out of them; or

(e)  Operating under a license or certificate of authority, as an insurer, issued

by the commissioner or the insurance department of any state other than Colorado.

(5)  Domiciliary state means the state in which an insurer is incorporated or

organized, or, in the case of an alien insurer, its state of entry.

(6)  Fair consideration is given for property or an obligation when:


(a)  In exchange for such property or obligation in good faith and as a fair

equivalent therefor, property is conveyed or services are rendered or an obligation is incurred or an antecedent debt is satisfied; or

(b)  Such property or obligation is received in good faith to secure a present

advance or antecedent debt in an amount not disproportionately small as compared to the value of the property or obligation obtained.

(6.5)  Federal home loan bank means an institution chartered under the

Federal Home Loan Bank Act, 12 U.S.C. sec. 1421 et seq., or its successor statute.

(7)  Foreign country means any other jurisdiction not in any state.


(8)  General assets means all property, real, personal, or otherwise, not

specifically mortgaged, pledged, deposited, or otherwise encumbered for the security or benefit of specified persons or classes of persons. As to specifically encumbered property, general assets includes all such property or its proceeds in excess of the amount necessary to discharge the sum or sums secured thereby. Assets held in trust and on deposit for the security or benefit of all policyholders or all policyholders and creditors, in more than a single state, shall be treated as general assets.

(9)  Guaranty association means the Colorado insurance guaranty

association created in part 5 of article 4 of this title, the life and health insurance protection association created in article 20 of this title, and any other similar entity now or hereafter created by this state for the payment of claims of insolvent insurers. Foreign guaranty association means any similar entity now in existence in, or hereafter created by, any other state.

(10)  Insolvency or insolvent means:


(a)  For an insurer issuing only assessable fire insurance policies:


(I)  The inability to pay any obligation within thirty days after the obligation

becomes payable; or

(II)  If an assessment is made within thirty days after the date the obligation

becomes payable, the inability to pay such obligation thirty days following the date specified in the first assessment notice issued after the date of loss.

(b)  For any other insurer, that it is unable to pay its obligations when they are

due, or that it is deemed insolvent pursuant to section 10-3-212.

(11)  Insurance department means the commissioner or other government

official or agency of a state other than Colorado exercising powers and duties substantially equivalent to those of the commissioner or the division.

(12)  Insurer means any person who has done, purports to do, is doing, or is

licensed to do an insurance business and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by, the commissioner or any insurance department.

(13)  Preferred claim means any claim with respect to which the terms of

this part 5 accord priority of payment from the general assets of the insurer.

(14)  Receiver means a receiver, liquidator, rehabilitator, or conservator.


(15)  Reciprocal state means any state other than this state in which, in

substance and effect, sections 10-3-517 (1), 10-3-551, 10-3-552, 10-3-554, 10-3-555, and 10-3-556 are in force, and in which provisions are in force requiring that the commissioner or equivalent official be the receiver of a delinquent insurer, and in which some provision exists for the avoidance of fraudulent conveyances and preferential transfers.

(16)  Secured claim means any claim secured by mortgage, trust deed,

pledge, deposit as security, escrow, or otherwise, but not including special deposit claims or claims against general assets. The term also includes claims which have become liens upon specific assets by reason of judicial process.

(17)  Special deposit claim means any claim secured by a deposit made

pursuant to statute for the security or benefit of a limited class or classes of persons, but not including any claim secured by general assets.

(18)  State means any state, district, or territory of the United States and

the Panama canal zone.

(19)  Transfer includes the sale and any other or different mode, direct or

indirect, of disposing of or parting with property or any interest therein, or with the possession thereof, or of fixing a lien upon property or upon any interest therein, absolutely or conditionally, voluntarily, either by or without judicial proceedings. The retention of a security title to property delivered to a debtor shall be deemed a transfer suffered by the debtor.

Source: L. 92: Entire part R&RE, p. 1429, � 14, effective July 1. L. 2014: (6.5)

added, (HB 14-1215), ch. 57, p. 257, � 1, effective March 21.

Editor's note: This section is similar to former � 10-3-502 as it existed prior to

1992.

Cross references: For insurance definitions generally, see � 10-1-102.

C.R.S. § 10-3-527

10-3-527. Voidable preferences and liens. (1) (a) A preference is a transfer of any of the property of an insurer to or for the benefit of a creditor, for or on account of an antecedent debt, made or suffered by the insurer within one year before the filing of a successful petition for liquidation under this part 5, the effect of which transfer may be to enable the creditor to obtain a greater percentage of this debt than another creditor of the same class would receive. If a liquidation order is entered while the insurer is already subject to a rehabilitation order, then such transfers shall be deemed preferences if made or suffered within one year before the filing of the successful petition for rehabilitation, or within two years before the filing of the successful petition for liquidation, whichever time is shorter.

(b)  Any preference may be avoided by the liquidator if:


(I)  The insurer was insolvent at the time of the transfer; or


(II)  The transfer was made within four months before the filing of the

petition; or

(III)  The creditor receiving it or to be benefited thereby or the agent of any

such creditor acting with reference thereto had, at the time when the transfer was made, reasonable cause to believe that the insurer was insolvent or was about to become insolvent; or

(IV)  The creditor receiving it was an officer, or any employee or attorney or

other person who was in fact in a position of comparable influence in the insurer to an officer whether or not such person held such position, or any shareholder holding directly or indirectly more than five percent of any class of any equity security issued by the insurer, or any other person, firm, corporation, association, or aggregation of persons with whom the insurer did not deal at arm's length.

(c)  Where the preference is voidable, the liquidator may recover the property

or, if it has been converted, its value from any person who has received or converted the property; except where a bona fide purchaser or lienor has given less than fair equivalent value, such purchaser or lienor shall have a lien upon the property to the extent of the consideration actually given by the purchaser. Where a preference by way of lien or security title is voidable, the court may on due notice order the lien or title to be preserved for the benefit of the estate, in which event the lien or title shall pass to the liquidator.

(d)  Notwithstanding paragraph (b) of this subsection (1) and any other

provision of this title, a liquidator or receiver shall not avoid any preference arising under or in connection with a federal home loan bank security agreement or any pledge agreement, security agreement, collateral agreement, guarantee agreement, or other similar arrangement or credit enhancement relating to a security agreement to which a federal home loan bank is a party.

(2) (a) (I)  A transfer of property other than real property shall be deemed to

be made or suffered when it becomes so far perfected that no subsequent lien obtainable by legal or equitable proceedings on a simple contract could become superior to the rights of the transferee.

(II)  A transfer of real property shall be deemed to be made or suffered when

it becomes so far perfected that no subsequent bona fide purchaser from the insurer could obtain rights superior to the rights of the transferee.

(b) (I)  A transfer which creates an equitable lien shall not be deemed to be

perfected if there are available means by which a legal lien could be created.

(II)  A transfer not perfected prior to the filing of a petition for liquidation

shall be deemed to be made immediately before the filing of the successful petition.

(c)  The provisions of this subsection (2) shall apply whether or not there are

or were creditors who might have obtained liens or persons who might have become bona fide purchasers.

(3) (a)  A lien obtainable by legal or equitable proceedings upon a simple

contract is one arising in the ordinary course of such proceedings upon the entry or docketing of a judgment or decree, or upon attachment, garnishment, execution, or like process, whether before, upon, or after judgment or decree and whether before or upon levy. It does not include liens which under applicable law are given a special priority over other liens which are prior in time.

(b)  A lien obtainable by legal or equitable proceedings could become

superior to the rights of a transferee, or a purchaser could obtain rights superior to the rights of a transferee within the meaning of subsection (2) of this section, if such consequences would follow only from the lien or purchase itself, or from the lien or purchase followed by any step wholly within the control of the respective lienholder or purchaser, with or without the aid of ministerial action by public officials. Such a lien could not, however, become superior and such a purchase could not create superior rights for the purpose of subsection (2) of this section through any acts subsequent to the obtaining of such a lien or subsequent to such a purchase which require the agreement or concurrence of any third party or which require any further judicial action or ruling.

(4)  A transfer of property for or on account of a new and contemporaneous

consideration which is deemed under subsection (2) of this section to be made or suffered after the transfer because of delay in perfecting it does not thereby become a transfer for or on account of an antecedent debt if any acts required by the applicable law to be performed in order to perfect the transfer as against liens or bona fide purchasers' rights are performed within twenty-one days or any period expressly allowed by the law, whichever is less. A transfer to secure a future loan, if such a loan is actually made, or a transfer which becomes security for a future loan, shall have the same effect as a transfer for or on account of a new and contemporaneous consideration.

(5)  If any lien deemed voidable under paragraph (b) of subsection (1) of this

section has been dissolved by the furnishing of a bond or other obligation and the surety which has been indemnified directly or indirectly by the transfer of or the creation of a lien upon any property of an insurer before the filing of a petition under this part 5 which results in a liquidation order, the indemnifying transfer or lien shall also be deemed voidable.

(6)  The property affected by any lien deemed voidable under subsections (1)

and (5) of this section shall be discharged from such lien, and that property and any of the indemnifying property transferred to or for the benefit of a surety shall pass to the liquidator; except that the court may on due notice order any such lien to be preserved for the benefit of the estate and the court may direct that such conveyance be executed as may be proper or adequate to evidence the title of the liquidator.

(7)  The district court in and for the city and county of Denver shall have

summary jurisdiction of any proceeding by the liquidator to hear and determine the rights of any parties under this section. Reasonable notice of any hearing in the proceeding shall be given to all parties in interest, including the obligee of a releasing bond or other like obligation. Where an order is entered for the recovery of indemnifying property in kind or for the avoidance of an indemnifying lien, the court, upon application of any party in interest, shall in the same proceeding ascertain the value of the property or lien, and if the value is less than the amount for which the property is indemnity or than the amount of the lien, the transferee or lienholder may elect to retain the property or lien upon payment of its value, as ascertained by the court, to the liquidator, within such reasonable times as the court shall fix.

(8)  The liability of the surety under a releasing bond or other like obligation

shall be discharged to the extent of the value of the indemnifying property recovered or the indemnifying lien nullified and avoided by the liquidator, or where the property is retained under subsection (7) of this section to the extent of the amount paid to the liquidator.

(9)  If a creditor has been preferred, and afterward in good faith gives the

insurer further credit without security of any kind, for property which becomes a part of the insurer's estate, the amount of the new credit remaining unpaid at the time of the petition may be set off against the preference which would otherwise be recoverable from such insurer.

(10)  If an insurer shall, directly or indirectly, within four months before the

filing of a successful petition for liquidation under this part 5, or at any time in contemplation of a proceeding to liquidate it, pay money or transfer property to an attorney-at-law for services rendered or to be rendered, the transactions may be examined by the court on its own motion or shall be examined by the court on petition of the liquidator and shall be held valid only to the extent of a reasonable amount to be determined by the court, and the excess may be recovered by the liquidator for the benefits of the estate; except that, where the attorney is in a position of influence in the insurer or an affiliate thereof, payment of any money or the transfer of any property to the attorney-at-law for services rendered or to be rendered shall be governed by the provision of subparagraph (IV) of paragraph (b) of subsection (1) of this section.

(11) (a)  Every officer, manager, employee, shareholder, member, subscriber,

attorney, or any other person acting on behalf of the insurer who knowingly participates in giving any preference when any such person has reasonable cause to believe the insurer is or is about to become insolvent at the time of the preference shall be personally liable to the liquidator for the amount of the preference. It is permissible to infer that there is a reasonable cause to so believe if the transfer was made within four months before the date of filing of a successful petition for liquidation.

(b)  Every person receiving any property from the insurer or the benefit

thereof as a preference voidable under subsection (1) of this section shall be personally liable therefor and shall be bound to account to the liquidator.

(c)  Nothing in this subsection (11) shall prejudice any other claim by the

liquidator against any person.

Source: L. 92: Entire part R&RE, p. 1459, � 74, effective July 1. L. 2014: (1)(d)

added, (HB 14-1215), ch. 57, p. 258, � 7, effective March 21.

C.R.S. § 10-3-528

10-3-528. Claims of holders of void or voidable rights. (1) No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance voidable under this part 5 shall be allowed unless such creditor surrenders the preference, lien, conveyance, transfer, assignment, or encumbrance. If the avoidance is effected by a proceeding in which a final judgment has been entered, the claim shall not be allowed unless the money is paid or the property is delivered to the liquidator within thirty days from the date of the entering of the final judgment; except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding.

(2)  A claim allowable under subsection (1) of this section by reason of the

avoidance, whether voluntary or involuntary, or a preference, lien, conveyance, transfer, assignment, or encumbrance, may be filed as an excused last filing under section 10-3-534 if filed within thirty days from the date of the avoidance, or within the further time allowed by the court pursuant to subsection (1) of this section.

Source: L. 92: Entire part R&RE, p. 1463, � 14, effective July 1.

C.R.S. § 10-4-601

10-4-601. Definitions. As used in this part 6, unless the context otherwise requires:

(1)  Repealed.


(2)  Complying policy means a policy of insurance that provides the

coverages and is subject to the terms and conditions required by this part 6, and is certified by the insurer and the insurer has filed a certification with the commissioner that such policy, contract, or endorsement conforms to Colorado law and any rules promulgated by the commissioner.

(3)  Converter means a person other than a named insured or resident

relative who operates or uses a motor vehicle in a manner that a reasonable person would determine was unauthorized or beyond the scope of permission given by a named insured or resident relative. In determining whether a person is a converter, the following factors should be considered:

(a)  The duration of the person's control over the motor vehicle;


(b)  The circumstances surrounding the conduct of the person operating or

using the motor vehicle; and

(c)  The person's good faith.


(4)  Described motor vehicle means the motor vehicle described in the

complying policy.

(5)  Insured means the named insured, relatives of the named insured who

reside in the same household as the named insured, and any person using the described motor vehicle with the permission of the named insured.

(5.5)  Licensed health-care provider means a person, corporation, facility, or

institution licensed or certified by this state to provide health care or professional services as a hospital, health-care facility, or dispensary or to practice and practicing medicine, osteopathy, chiropractic, nursing, physical therapy, podiatry, dentistry, pharmacy, acupuncture, or optometry in this state, or an officer, employee, or agent of the person, corporation, facility, or institution working under the supervision of the person, corporation, facility, or institution in providing health-care services.

(6)  [Editor's note: This version of subsection (6) is effective until July 1,

2027.] Motor vehicle means a motor vehicle and a low-power scooter, as both terms are defined in section 42-1-102, C.R.S.; except that motor vehicle does not include a toy vehicle, snowmobile, off-highway vehicle, or vehicle designed primarily for use on rails.

(6)  [Editor's note: This version of subsection (6) is effective July 1, 2027. For

the applicability of this subsection (6) on or after January 1, 2028, see the editor's note following this section.] Motor vehicle means a motor vehicle, a kei vehicle, and a low-power scooter, as each of these terms is defined in section 42-1-102; except that motor vehicle does not include a toy vehicle, snowmobile, off-highway vehicle, or vehicle designed primarily for use on rails.

(7)  Nonpayment of premium means failure of the named insured to

discharge when due any obligations in connection with the payment of premiums on the policy, or any installment of such premium, whether the premium is payable directly to the insurer or its agent or indirectly under any premium finance plan or extension of credit.

(8)  Owner means a person who holds the legal title to a vehicle; except

that, if the vehicle is the subject of an agreement for the conditional sale or lease thereof with the right of purchase upon performance of the conditions stated in the agreement and with an immediate right of possession vested in the conditional vendee or lessee, or if a mortgagor of the vehicle is entitled to possession, then such conditional vendee or lessee or mortgagor shall be deemed the owner for the purpose of this part 6.

(9)  Person means every natural person, firm, partnership, association, or

corporation.

(10)  Policy means an automobile insurance policy providing coverage for all

or any of the following coverages: Collision, comprehensive, bodily injury liability, property damage liability, medical payments, and uninsured motorist coverage, or a combination automobile policy providing bodily injury liability, property damage liability, medical payments, uninsured motorist, and physical damage coverage, delivered or issued for delivery in this state, insuring a single individual, or husband and wife, or family members residing in the same household, as named insured, and under which the insured vehicles therein designated are of the following types only:

(a)  A motor vehicle of the private passenger or station wagon type that is not

used as a public or livery conveyance for passengers nor rented to others pursuant to the terms of a motor vehicle rental agreement; or

(b)  Any other four-wheel motor vehicle with a load capacity of fifteen

hundred pounds or less that is not used in the occupation, profession, or business of the insured.

(11)  Renewal or to renew means the issuance and delivery by an insurer of

a policy replacing at the end of the policy period a policy previously issued and delivered by the same insurer or by an admitted company within the same insurance group, or the issuance and delivery of a certificate or notice extending the term of the policy beyond its policy period or term; but any policy with a policy period or term of less than six months shall, for the purpose of this part 6, be considered as if written for a policy period or term of six months; and any policy written for a term longer than one year, or any policy with no fixed expiration date, shall, for the purpose of this part 6, be considered as if written for successive policy periods or terms of one year, and such policy may be terminated at the expiration of any annual period upon giving twenty days' notice of cancellation prior to such anniversary date, and such cancellation shall not be subject to any other provisions of this part 6.

(12)  Repealed.


(13)  Resident relative means a person who, at the time of the accident, is

related by blood, marriage, or adoption to the named insured or resident spouse and who resides in the named insured's household, even if temporarily living elsewhere, and any ward or foster child who usually resides with the named insured, even if temporarily living elsewhere.

(14)  Stacking has the same meaning set forth in section 10-4-402 (3.5).


Source: L. 69: p. 549, � 1. C.R.S. 1963: � 72-30-1. L. 92: (4) added, p. 1759, � 3,

effective June 5. L. 95: (2)(a) amended, p. 142, � 2, effective April 7. L. 2003: Entire section amended, p. 1558, � 1, effective July 1; (1) amended and (1.5) and (3.5) added, p. 2554, � 1, effective July 1. L. 2004: (6) amended, p. 11, � 2, effective February 20. L. 2007: (1) and (12) repealed, p. 974, � 3, effective May 18. L. 2009: (6) amended, (HB 09-1026), ch. 281, p. 1253, � 1, effective July 1, 2010. L. 2010: (5.5) added, (HB 10-1220), ch. 197, p. 855, � 18, effective July 1. L. 2016: (11) amended, (HB 16-1025), ch. 16, p. 36, � 1, effective August 10. L. 2025: (6) amended, (HB 25-1281), ch. 176, p. 735, � 1, effective July 1, 2027.

Editor's note: (1)  Amendments to this section by House Bill 03-1253 and

House Bill 03-1188 were harmonized, resulting in the renumbering of provisions of this section.

(2)  Section 13(2) of chapter 176 (HB 25-1281), Session Laws of Colorado

2025, provides that the act changing this section applies to applications submitted or offenses committed on or after January 1, 2028.

C.R.S. § 10-4-627

10-4-627. Discriminatory standards - premiums - surcharges - proof of financial responsibility requirements. (1) An insurer shall not:

(a)  Cancel or nonrenew, or increase the premium of, a policy of insurance on

a motor vehicle used by any resident of the household of the named insured solely because of convictions for traffic violations that resulted in less than seven points being assessed under the point system schedule set forth in section 42-2-127 (5), C.R.S., resulting from violations while in the course of employment while the insured is driving a motor vehicle used primarily as a public or livery conveyance or licensed as a commercial vehicle; or

(b)  Add a surcharge to the policy premium of an insured or a family member

of an insured or other person living in the same household as an insured in a manner that results in an excessive or unfairly discriminatory premium pursuant to section 10-4-403.

(2)  This section shall not be construed to limit or in any manner restrict an

insurer from canceling or refusing to issue or renew a policy of insurance or from increasing the premium of an insured on a motor vehicle used by him or her for commercial purposes or from reclassifying an insured for traffic violations received by the insured while using a motor vehicle for commercial purposes.

Source: L. 2003: Entire section added, p. 1564, � 3, effective July 1.


Editor's note: This section was originally numbered as � 10-4-624 in House

Bill 03-1188 but has been renumbered on revision for ease of location.

C.R.S. § 11-103-805

11-103-805. Federal deposit insurance corporation or successor as liquidator. (1) The federal deposit insurance corporation, created by section 12B of the Federal Reserve Act, as amended, or its successor is authorized to act without bond as liquidator of any banking institution, the deposits in which are to any extent insured by said corporation or its successor pursuant to section 11-103-802.

(2)  Pursuant to section 11-103-802, the commissioner, upon order of the

banking board, shall tender to said corporation or its successor the appointment as liquidator of such banking institution.

(3)  After being notified in writing of the acceptance of such an appointment,

the commissioner shall file in the office of the clerk and recorder in the county in which the bank is situated a certificate evidencing the appointment of the federal deposit insurance corporation or its successor. Upon such an appointment, the possession of all the assets, business, and property of such bank of every kind and nature, wheresoever situated, shall be deemed transferred from such bank and the banking board to the federal deposit insurance corporation or its successor. Without the execution of any instruments of conveyance, assignment, transfer, or endorsement, the title to all such assets and property shall be vested in the federal deposit insurance corporation or its successor, and the banking board and the commissioner shall be forever thereafter relieved from all responsibility and liability in respect to the liquidation of such bank; except that the banking board may retain jurisdiction over and responsibility for liquidation of eligible collateral pledged pursuant to the Public Deposit Protection Act, article 10.5 of this title, to secure public deposits not insured by the federal deposit insurance corporation or its successor.

(4)  If the corporation or its successor accepts said appointment, it has all the

powers and privileges provided by the laws of this state with respect to the liquidation of a banking institution, its depositors, and other creditors.

(5) (a)  When a state bank is liquidated, after payment of federal deposit

insurance, claims for payment shall have the following priority:

(I)  Obligations incurred by the banking board, fees and assessments due to

the division of banking, and expenses of liquidation, all of which may be covered by a proper reserve of funds;

(II)  Claims of depositors having an approved claim against the general

liquidating account of the bank;

(III)  Claims of general creditors having an approved claim against the general

liquidating account of the bank;

(IV)  Claims otherwise proper that were not filed within the time prescribed

by this code;

(V)  Approved claims of subordinate creditors; and


(VI)  Claims of stockholders of the bank.


(b)  When a state bank is liquidated, after payment of federal deposit

insurance, claims of official custodians of public funds for payment of uninsured public funds pursuant to the Public Deposit Protection Act, article 10.5 of this title, shall be governed by the provisions of this subsection (5). In the event that the state bank holds collateral that is pledged for the safekeeping and protection of uninsured public funds on deposit pursuant to article 10.5 of this title, such collateral shall be considered to be held in trust on behalf of the official custodian, and the liquidator shall not use such collateral to pay any claim or liability other than that of the official custodian until all claims for uninsured public funds have been paid. In the event that such collateral is insufficient to pay all claims made by official custodians, the payment of such claims shall be made according to a pro rata formula. Claims by official custodians for payment of uninsured deposits not collateralized pursuant to article 10.5 of this title shall have the same priority as that assigned to depositors under subparagraph (II) of paragraph (a) of this subsection (5).

Source: L. 2003: Entire article added with relocations, p. 1106, � 3, effective

July 1.

Editor's note: This section is similar to former � 11-5-105 as it existed prior to

2003.

Cross references: For the Federal Reserve Act, see 12 U.S.C. � 221 et seq.

C.R.S. § 11-105-305

11-105-305. Acceptances - letters of credit. (1) A state bank may accept:

(a)  A draft that has not more than six months' sight to run, exclusive of days

of grace, and is drawn to finance the purchase of goods with maturity in accordance with the original terms of purchase, or is secured by shipping documents transferring or securing title to goods, or by receipt of a licensed or bonded warehouse or elevator transferring or securing title to readily marketable staples;

(b)  A draft that has no more than three months' sight to run, exclusive of

days of grace, and is drawn by a bank outside the continental limits of the United States for the purpose of furnishing dollar exchange for trade.

(2)  A state bank may issue letters of credit, but, unless the authority

conferred to draw upon the bank or its correspondents is limited to such drafts as a bank is authorized by this section to accept, the amount of the credit outstanding at any one time shall be deemed to be a loan to the person for whose account the credit was issued.

Source: L. 2003: Entire article added with relocations, p. 1124, � 3, effective

July 1.

Editor's note: This section is similar to former � 11-7-107 as it existed prior to

2003.

PART 4

PROPERTY, SALES, BORROWING,

AND SIGNATURE GUARANTY

C.R.S. § 11-41-121

11-41-121. Merger, consolidation, and transfer. (1) As used in this section, the word association shall include federal savings and loan associations incorporated under the Home Owners' Loan Act of 1933.

(1.5) (a)  A domestic association may merge with a foreign association and,

subject to the limitations specified in this subsection (1.5), notwithstanding any other provision of articles 40 to 46 of this title to the contrary, if the association proposing to merge with a domestic association is a foreign association, the foreign association shall, in addition to submitting all information pertinent to the evaluation of the application under this section that the commissioner may require together with all applicable fees, meet the following criteria:

(I)  The foreign association seeking the merger shall have deposits that it may

hold insured by the federal deposit insurance corporation or its successor in accordance with the provisions of section 11-41-117; and

(II)  The foreign association shall be in compliance with the capital

requirements specified in this subparagraph (II) as follows:

(A) and (B)  (Deleted by amendment, L. 2004, p. 149, � 56, effective July 1,

2004.)

(C)  On and after January 1, 1993, the foreign association shall have a ratio of

total capital to total assets of not less than six percent or the prevailing regulatory capital requirements established by the federal deposit insurance corporation or its successor, whichever is greater; and

(II.5)  Once a capital threshold is established in accordance with the

provisions of subparagraph (II) of this paragraph (a) it shall be the prevailing standard for purposes of this section to be applied by the commissioner regardless of any reduction below the prevailing regulatory capital threshold requirement unless the general assembly authorizes the application of a lower standard; and

(III)  The commissioner shall not approve any proposed merger under the

provisions of this subsection (1.5) if the merger would result in the foreign association controlling at the time of the merger more than twenty-five percent of the aggregate of all deposits in all banks, savings and loan associations, federal savings banks, and other financial institutions located in Colorado, which are federally insured. For the purposes of this subsection (1.5), deposits shall be determined based upon the public reports most recently filed with the appropriate federal regulatory agency; and

(IV)  Except as otherwise provided in paragraph (b) of this subsection (1.5),

the foreign association shall be domiciled or conduct its principal operations in a state which is both contiguous to Colorado and which also has laws that allow a domestic association to establish business operations in that state under conditions which are determined by the commissioner to be not more restrictive than those provided in articles 40 to 46 of this title. For the purpose of this subparagraph (IV), the place where an association conducts its principal operations means the place where the largest percentage of the aggregate deposits of the foreign association and all of its subsidiaries are held.

(b)  On or after January 1, 1991, a foreign association seeking to merge with a

domestic association may be domiciled or have its principal offices in any state without regard to its proximity to this state and without regard to the statutory conditions required by subparagraph (IV) of paragraph (a) of this subsection (1.5).

(c)  Whenever a foreign association that meets the criteria established by this

subsection (1.5) proposes to merge with a domestic association, the foreign association shall make an application for prior approval to the commissioner in the form and with the information that the commissioner may require, and the application must be accompanied by a nonrefundable filing fee in an amount determined by the commissioner. Upon receipt of a properly submitted application for merger, the commissioner shall proceed to investigate the application in accordance with this section. The commissioner shall not grant approval of the merger until the commissioner is satisfied that the criteria imposed by this section have been met and that the merger is not contrary to the public interest.

(d)  No foreign association may merge with a domestic association except in

accordance with the provisions of this section, and no such merger may be completed without the approval of the commissioner.

(e)  Any officer of a foreign association that merges with a domestic

association pursuant to this section whose primary duty is managing the day-to-day operations of the Colorado offices of such foreign association shall be a resident of Colorado.

(f)  Nothing in this section shall be construed to limit or otherwise curtail the

powers of the commissioner with respect to supervisory mergers as established in section 11-44-110.5.

(2)  Any two or more associations are authorized to merge and become

incorporated in one body by transfer of all their assets and obligations upon such terms as set forth in an agreement of merger. The respective boards of directors of such associations, by a majority vote of each board, shall make or authorize to be made between such associations an agreement of merger.

(3)  Copies of the proposed agreement of merger, signed by the president or

vice president of the association and verified by the president's or vice president's affidavit and attested by the secretary or assistant secretary of the association, with the seal of the association affixed, shall be submitted together with a fee in the amount established by the commissioner to the commissioner for the commissioner's approval or disapproval, and the commissioner shall cause a certificate of approval or disapproval to be attached to the copies of the proposed agreement, one copy to be filed in the division and one returned to each of the associations.

(4)  If the commissioner approves an agreement of merger, the agreement

shall be presented to the members of each of the merging associations at special meetings called for the purpose of considering and voting upon the agreement; but, in the case of associations having permanent stock, only the holders of the permanent stock are entitled to any notice other than the published notice of the special meeting or to vote upon the agreement of merger. The complete agreement of merger, as adopted by the boards of directors and approved by the commissioner, shall be furnished to each member entitled to vote on the merger at the time that notice of the meetings, as required by section 11-41-123, is given. If at a meeting two-thirds of all votes of the members present in person or by proxy and entitled to vote on the merger are in favor of the approved agreement, the associations may proceed to merge. The proceedings of the meetings shall be submitted to the commissioner for the commissioner's approval in the same manner as required for the submission of the agreement by the boards of directors. Unless the agreement of merger fixes a later effective date, the effective date of the merger is the date upon which the commissioner accepts for filing the certified copies of the proceedings of the meetings of members adopting the approved agreement of merger.

(5)  Repealed.


(6) (a)  A transfer does not:


(I)  Prejudice the right of any creditor of any association to have payment of

the creditor's debt out of the assets and property of the association; or

(II)  Deprive any creditor of, or create any prejudice against any creditor in,

any right of action then existing against the officers or directors of an association for any neglect or misconduct.

(b)  A reorganized association is liable for all obligations to members of the

associations existing prior to a consolidation.

(7)  Upon the effective date of the merger, all of the assets and property of

every kind and character, real, personal, and mixed and tangible and intangible, choses in action, rights and credits then owned by the merging associations or which inure to any of them, immediately by operation of law, and without any conveyance or transfer, and without any further act or deed, shall be vested in and become the property of the association into which the other associations are absorbed, which shall have, hold, and enjoy the same in its own right as fully and to the same extent as if the same were possessed, held, and enjoyed by the merging associations prior to such merger. Such association shall be a continuation of the entity and identity of the association into which the other associations are absorbed, and all of the rights and obligations of the merging associations shall remain unimpaired, and the association, at the time of the taking effect of such merger, shall succeed to all of the rights and obligations and duties and liabilities of the merging associations. All rights and remedies of creditors and all liens upon the property of the merging associations shall be preserved, and all debts, liabilities, and duties of the respective merging associations shall thenceforth attach to the association and may be enforced against it to the same extent as if such debts, liabilities, and duties had been incurred or contracted by it.

(8)  All pending actions or other judicial proceedings to which any of the

associations is a party shall not be deemed to have abated or to have discontinued by reason of such merger but may be pressed to final judgment, order, or decree in the same manner as if a merger had not been made; or the association resulting from such merger may be substituted as a party to such action or proceedings, and any judgment, order, or decree may be rendered for or against it which might have been rendered for or against any of the merging associations theretofore involved in such action or other judicial proceedings.

Source: L. 33: p. 306, � 12. CSA: C. 25, � 15. L. 39: p. 256, � 33. CRS 53: � 122-2-21. C.R.S. 1963: � 122-2-21. L. 69: p. 1016, � 9. L. 84: (3) amended, p. 378, � 5,

effective May 11. L. 88: (1.5) added, p. 458, � 3, effective July 1. L. 2004: (1.5)(a)(I), (1.5)(a)(II)(A) to (1.5)(a)(II)(C), and (5) amended, pp. 149, 138, �� 56, 18, effective July 1. L. 2005: IP(1.5)(a) amended, p. 763, � 17, effective June 1. L. 2024: (1.5)(c), (3), (4), and (6) amended and (5) repealed, (HB 24-1381), ch. 350, p. 2371, � 26, effective August 7.

Editor's note: In 2000, subsection (1.5)(a)(II)(D), enacted in 1988, was

renumbered as subsection (1.5)(a)(II.5) on revision.

Cross references: For the Home Owners' Loan Act of 1933, see Pub.L. 73-43, codified at 12 U.S.C. � 1461 et seq.

C.R.S. § 11-41-131

11-41-131. Dissolution. (1) A domestic association may elect to abandon its certificate of authority, liquidate its affairs, and dissolve as provided in this section. The affirmative vote of at least a majority of the board of directors must be cast in favor of a proposed dissolution at a special meeting of the board. A certified copy of the vote must be furnished to the commissioner, who shall promptly examine the association, and, if the commissioner determines that the association is solvent and that it is in the best interests of the members that liquidation be accomplished according to this section, the commissioner shall certify the commissioner's approval of the liquidation. After the commissioner's approval, a special meeting of all members entitled to vote shall be called pursuant to section 11-41-123. If a majority vote of all such members of the association is cast in favor of the proposal to liquidate and ultimately dissolve the association under this section, the proposal is deemed adopted. A certified copy of all proceedings taken prior to and at the meeting shall be filed with the commissioner, who shall determine whether the proceedings have been conducted in accordance with law. If the commissioner finds that the proceedings are legal and proper, the commissioner shall certify the commissioner's approval of the proceedings and authorize the association to proceed with the liquidation in the manner provided in this section.

(2)  The board of directors shall act as trustees for liquidation, and shall

proceed as speedily as may be practical to wind up the affairs of the association, and, to the extent necessary, shall exercise all the powers granted by articles 40 to 46 of this title to active associations and to the commissioner in the case of departmental liquidation, and, without prejudice to the generality of such authority, may carry out executory contracts, enter into new contracts, borrow money, mortgage or pledge property, sell assets at public or private sale, make and receive conveyances in the corporate name, lease real estate, settle or compromise claims, commence and prosecute all actions and proceedings necessary to enable liquidation, distribute assets either in cash or in kind among members according to their respective rights, after paying or adequately providing for the payment of liabilities, and do and perform all acts necessary or expedient to the winding up of the association. The board of directors has power to exchange or otherwise dispose of or place in trust all or any part of the assets upon such terms and conditions and for such considerations as may be deemed reasonable or expedient and may distribute such considerations among the members in proportion to their interest therein. In the absence of fraud, any determination of value made by said board of directors for any such purpose shall be conclusive.

(3)  During the liquidation of its assets, an association is subject to the

supervision of the commissioner and shall pay the fees and assessments required in articles 40 to 46 of this title 11 in the case of active associations and shall report the progress of the liquidation to the commissioner as the commissioner may require. Upon completion of liquidation, a final report and accounting of the affairs of the association shall be made to the commissioner. Upon the approval of the report by the commissioner, the board of directors, without the necessity of further action by the members of the association, shall proceed to dissolve the association in the manner provided by law in the case of general corporations.

(4)  Nothing in this section prejudices the right of the commissioner to take

possession of any association under the authority vested in the commissioner by section 11-44-110, upon determining that the procedure is in the best interest of the members.

Source: L. 39: p. 260, � 35. CSA: C. 25, � 98. CRS 53: � 122-2-31. C.R.S. 1963:

� 122-2-31. L. 2024: (1), (3), and (4) amended, (HB 24-1381), ch. 350, p. 2376, � 33, effective August 7.

C.R.S. § 11-45-102

11-45-102. Effect of conversion. At the time when such conversion becomes effective, such association shall cease to be supervised by this state, and all of the property of such association, including all of its right, title, and interest in and to all property of every kind and character, whether real, personal, or mixed, immediately by operation of law and without any conveyance or transfer whatsoever and without any further act or deed, shall continue to be vested in said association under its new name and style as a federal savings and loan association and under its new jurisdiction; and said federal savings and loan association shall have, hold, and enjoy the same in its own right as fully and to the same extent as if the same were possessed, held, and enjoyed by it as a state association, and said federal savings and loan association, at the time of the taking effect of such conversion, shall continue to be responsible for all of the obligations of said state association to the same extent as though said conversion had not taken place. It is expressly declared that such federal savings and loan association shall be merely a continuation of the state association under a new name, a new jurisdiction, and such revision of its corporate structure as may be considered necessary for its proper operation under said new jurisdiction.

Source: L. 35: p. 265, � 2. CSA: C. 25, � 68. CRS 53: � 122-7-2. C.R.S. 1963: �

122-6-2.

C.R.S. § 11-71-103

11-71-103. Applicability of article - confidentiality of compliance review committee documents - definition. (1) This article applies to a compliance review committee the functions of which are to evaluate and seek to improve:

(a)  Loan underwriting standards;


(b)  Asset quality;


(c)  Compliance with federal or state statutory or regulatory requirements;


(d)  Financial reporting to federal or state regulatory agencies; or


(e) (I)  The ability of electronic computing devices and any other computers,

software programs, databases, network information systems, firmware, microprocessors, internal time clocks, hardware, or any other device used to interpret, produce, calculate, compute, generate, compare, account for, or sequence a date from, into, or between the years 1999 and 2000.

(II)  For purposes of this paragraph (e), electronic computing device means

any computer hardware or software, computer chip, embedded chip, process control equipment, or other information system that:

(A)  Is used to capture, store, manipulate, or process data; or


(B)  Controls, monitors, or assists in the operation of physical apparatus that

is not primarily used as a computer but that relies on automation or digital technology to function, including but not limited to vehicles, vessels, buildings, structures, facilities, elevators, medical equipment, traffic signals, and factory machinery.

(f)  Repealed.


(2) (a) (I)  Except as provided in subsection (3) of this section, compliance

review documents, including those which have been delivered to a federal or state governmental agency, are confidential and not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee.

(II)  Notwithstanding any provision to the contrary, this article shall not be

construed to limit the discovery or admissibility in any civil action of documents that are not compliance review documents, including, but not limited to, books, records, loan documents, applications, and appraisals, and other documents otherwise prepared or maintained in the ordinary course of business.

(b)  No person shall testify in a civil proceeding concerning such person's

participation in the collection, evaluation, reporting, or use of compliance review documents or about the contents of compliance review documents. Such testimony, if offered, is inadmissible in evidence.

(3)  Subsection (2) of this section shall not limit the ability of a governmental

agency to examine, obtain, or use compliance review documents. Such compliance review documents shall remain confidential and not discoverable or admissible in evidence in any civil action by other than a governmental agency.

Source: L. 95: Entire article added, p. 211, � 1, effective April 13. L. 99: (1)(c)

amended and (1)(e) and (1)(f) added, p. 215, � 2, effective July 1. L. 2011: (1)(f)(I) and (1)(f)(II)(B) repealed, (HB 11-1303), ch. 264, p. 1149, � 7, effective August 10. L. 2013: (1)(e) amended and (1)(f) repealed, (HB 13-1300), ch. 316, p. 1667, � 16, effective August 7.

BANKS

Colorado Banking Code

ARTICLE 101

General Provisions

Editor's note: This article was added with relocations in 2003. Former C.R.S.

section numbers are shown in editor's notes following those sections that were relocated.

Cross references: For bank deposits and collections, see article 4 of title 4;

for limitation of this code with reference to corporations, see � 11-107-111; for the Revised Uniform Unclaimed Property Act, see article 13 of title 38.

Law reviews: For article, Commercial and Corporate Law, which discusses

Tenth Circuit decisions dealing with banking, see 64 Den. U.L. Rev. 184 (1987); for a discussion of Tenth Circuit decisions dealing with banking, see 66 Den. U.L. Rev. 681 (1989); for article, Arbitrating Lender Liability Claims, see 18 Colo. Law. 879 (1989); for a discussion of Tenth Circuit decisions dealing with banking and finance law, see 67 Den. U. L. Rev. 629 (1990).

PART 1

SHORT TITLE AND POLICY

C.R.S. § 12-10-201

12-10-201. Definitions. As used in this part 2, unless the context otherwise requires:

(1)  Commission means the real estate commission created in section 12-10-206.


(2)  Employing real estate broker or employing broker means a broker

who is shown in commission records as employing or engaging another broker.

(3)  Limited liability company shall have the same meaning as it is given in

section 7-80-102 (7).

(4)  Option dealer means any person, firm, partnership, limited liability

company, association, or corporation that, directly or indirectly, takes, obtains, or uses an option to purchase, exchange, rent, or lease real property or any interest therein with the intent or for the purpose of buying, selling, exchanging, renting, or leasing the real property or interest therein to another or others, whether or not the option is in that person's or its name and whether or not title to said property passes through the name of the person, firm, partnership, limited liability company, association, or corporation in connection with the purchase, sale, exchange, rental, or lease of the real property or interest therein.

(5)  Partnership includes, but is not limited to, a registered limited liability

partnership.

(6) (a)  Real estate broker or broker means any person, firm, partnership,

limited liability company, association, or corporation that, in consideration of compensation by fee, commission, salary, or anything of value or with the intention of receiving or collecting such compensation, engages in or offers or attempts to engage in, either directly or indirectly, by a continuing course of conduct or by any single act or transaction, any of the following acts:

(I)  Selling, exchanging, buying, renting, or leasing real estate, or interest

therein, or improvements affixed thereon;

(II)  Offering to sell, exchange, buy, rent, or lease real estate, or interest

therein, or improvements affixed thereon;

(III)  Selling or offering to sell or exchange an existing lease of real estate, or

interest therein, or improvements affixed thereon;

(IV)  Negotiating the purchase, sale, or exchange of real estate, or interest

therein, or improvements affixed thereon;

(V)  Listing, offering, attempting, or agreeing to list real estate, or interest

therein, or improvements affixed thereon for sale, exchange, rent, or lease;

(VI)  Auctioning or offering, attempting, or agreeing to auction real estate, or

interest therein, or improvements affixed thereon;

(VII)  Buying, selling, offering to buy or sell, or otherwise dealing in options on

real estate, or interest therein, or improvements affixed thereon, or acting as an option dealer;

(VIII)  Performing any of the foregoing acts as an employee of, or on behalf

of, the owner of real estate, or interest therein, or improvements affixed thereon at a salary or for a fee, commission, or other consideration;

(IX)  Negotiating or attempting or offering to negotiate the listing, sale,

purchase, exchange, or lease of a business or business opportunity or the goodwill thereof or any interest therein when the act or transaction involves, directly or indirectly, any change in the ownership or interest in real estate, or in a leasehold interest or estate, or in a business or business opportunity that owns an interest in real estate or in a leasehold unless the act is performed by any broker-dealer licensed under the provisions of article 51 of title 11 who is actually engaged generally in the business of offering, selling, purchasing, or trading in securities or any officer, partner, salesperson, employee, or other authorized representative or agent thereof; or

(X)  Soliciting a fee or valuable consideration from a prospective tenant for

furnishing information concerning the availability of real property, including apartment housing that may be leased or rented as a private dwelling, abode, or place of residence. Any person, firm, partnership, limited liability company, association, or corporation or any employee or authorized agent thereof engaged in the act of soliciting a fee or valuable consideration from any person other than a prospective tenant for furnishing information concerning the availability of real property, including apartment housing that may be leased or rented as a private dwelling, abode, or place of residence, is exempt from this definition of real estate broker or broker. This exemption applies only in respect to the furnishing of information concerning the availability of real property.

(b)  Real estate broker or broker does not apply to any of the following:


(I)  Any attorney-in-fact acting without compensation under a power of

attorney, duly executed by an owner of real estate, authorizing the consummation of a real estate transaction;

(II)  Any public official in the conduct of his or her official duties;


(III)  Any receiver, trustee, administrator, conservator, executor, or guardian

acting under proper authorization;

(IV)  Any person, firm, partnership, limited liability company, or association

acting personally or a corporation acting through its officers or regularly salaried employees, on behalf of that person or on its own behalf as principal in acquiring or in negotiating to acquire any interest in real estate;

(V)  An attorney-at-law in connection with his or her representation of clients

in the practice of law;

(VI)  Any person, firm, partnership, limited liability company, association, or

corporation, or any employee or authorized agent thereof, engaged in the act of negotiating, acquiring, purchasing, assigning, exchanging, selling, leasing, or dealing in oil and gas or other mineral leases or interests therein or other severed mineral or royalty interests in real property, including easements, rights-of-way, permits, licenses, and any other interests in real property for or on behalf of a third party, for the purpose of, or facilities related to, intrastate and interstate pipelines for oil, gas, and other petroleum products, flow lines, gas gathering systems, and natural gas storage and distribution;

(VII)  A natural person acting personally with respect to property owned or

leased by that person or a natural person who is a general partner of a partnership, a manager of a limited liability company, or an owner of twenty percent or more of such partnership or limited liability company, and authorized to sell or lease property owned by the partnership or limited liability company, except as provided in subsection (4) of this section;

(VIII)  A corporation with respect to property owned or leased by it, acting

through its officers or regularly salaried employees, when the acts are incidental and necessary in the ordinary course of the corporation's business activities of a non-real-estate nature (but only if the corporation is not engaged in the business of land transactions), except as provided in subsection (4) of this section. For the purposes of this subsection (6)(b)(VIII), the term officers or regularly salaried employees means persons regularly employed who derive not less than seventy-five percent of their compensation from the corporation in the form of salaries.

(IX)  A principal officer of any corporation with respect to property owned by

it when the property is located within the state of Colorado and when the principal officer is the owner of twenty percent or more of the outstanding stock of the corporation, except as provided in subsection (4) of this section, but this exemption does not include any corporation selling previously occupied one-family and two-family dwellings;

(X)  A sole proprietor, corporation, partnership, or limited liability company,

acting through its officers, partners, or regularly salaried employees, with respect to property owned or leased by the sole proprietor, corporation, partnership, or limited liability company on which has been or will be erected a commercial, industrial, or residential building that has not been previously occupied and where the consideration paid for the property includes the cost of the building, payable, less deposit or down payment, at the time of conveyance of the property and building;

(XI) (A)  A corporation, partnership, or limited liability company acting

through its officers, partners, managers, or regularly salaried employees receiving no additional compensation therefor, or its wholly owned subsidiary or officers, partners, managers, or regularly salaried employees thereof receiving no additional compensation, with respect to property located in Colorado that is owned or leased by the corporation, partnership, or limited liability company and on which has been or will be erected a shopping center, office building, or industrial park when such shopping center, office building, or industrial park is sold, leased, or otherwise offered for sale or lease in the ordinary course of the business of the corporation, partnership, limited liability company, or wholly owned subsidiary.

(B)  For the purposes of this subsection (6)(b)(XI): Shopping center means

land on which buildings are or will be constructed that are used for commercial and office purposes around or adjacent to which off-street parking is provided; office building means a building used primarily for office purposes; and industrial park means land on which buildings are or will be constructed for warehouse, research, manufacturing, processing, or fabrication purposes.

(XII)  A regularly salaried employee of an owner of an apartment building or

complex who acts as an on-site manager of such an apartment building or complex. This exemption applies only in respect to the customary duties of an on-site manager performed for his or her employer.

(XIII)  A regularly salaried employee of an owner of condominium units who

acts as an on-site manager of such units. For purposes of this subsection (6)(b)(XIII) only, the term owner includes a homeowners' association formed and acting pursuant to its recorded condominium declaration and bylaws. This exemption applies only in respect to the customary duties of an on-site manager performed for his or her employer.

(XIV)  A real estate broker licensed in another state who receives a share of a

commission or finder's fee on a cooperative transaction from a licensed Colorado real estate broker;

(XV)  A sole proprietor, corporation, partnership, or limited liability company,

acting through its officers, partners, or regularly salaried employees, with respect to property located in Colorado, where the purchaser of the property is in the business of developing land for residential, commercial, or industrial purposes;

(XVI)  Any person, firm, partnership, limited liability company, association, or

corporation, or any employee or authorized agent thereof, engaged in the act of negotiating, purchasing, assigning, exchanging, selling, leasing, or acquiring rights-of-way, permits, licenses, and any other interests in real property for, or on behalf, of a third party for the purpose of, or facilities related to:

(A)  Telecommunication lines;


(B)  Wireless communication facilities;


(C)  CATV;


(D)  Electric generation, transmission, and distribution lines;


(E)  Water diversion, collection, distribution, treatment, and storage or use;

and

(F)  Transportation, so long as the person, firm, partnership, limited liability

company, association, or corporation, including any employee or authorized agent thereof, does not represent any displaced person or entity as an agent thereof in the purchase, sale, or exchange of real estate, or an interest therein, resulting from residential or commercial relocations required under any transportation project, regardless of the source of public funding.

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p.

614, � 1, effective October 1.

Editor's note: This section is similar to former � 12-61-101 as it existed prior to

2019; except that � 12-61-101 (1.2) was relocated to � 12-10-101 (3).

C.R.S. § 12-10-503

12-10-503. Application for registration. (1) Every person who is required to register as a developer under this part 5 shall submit to the commission an application that contains the information described in subsections (2) and (3) of this section. If the information is not submitted, the commission may deny the application for registration. If a developer is currently regulated in another state that has registration requirements substantially equivalent to the requirements of this part 5 or that provide substantially comparable protection to a purchaser, the commission may accept proof of the registration along with the developer's disclosure or equivalent statement from the other state in full or partial satisfaction of the information required by this section. In addition, the applicant shall be under a continuing obligation to notify the commission within ten days of any change in the information so submitted, and a failure to do so shall be a cause for disciplinary action.

(2) (a)  Registration information concerning the developer shall include:


(I)  The principal office of the applicant wherever situate;


(II)  The location of the principal office and the branch offices of the applicant

in this state;

(III)  The names and residence and business addresses of all natural persons

who have a twenty-four percent or greater financial or ultimate beneficial interest in the business of the developer, either directly or indirectly, as principal, manager, member, partner, officer, director, or stockholder, specifying each such person's capacity, title, and percentage of ownership. If no natural person has a twenty-four percent or greater financial or beneficial interest in the business of the developer, the information required in this subsection (2)(a)(III) shall be submitted regarding the natural person having the largest single financial or beneficial interest.

(IV)  The length of time and the locations where the applicant has been

engaged in the business of real estate sales or development;

(V)  Any felony of which the applicant has been convicted within the

preceding ten years. In determining whether a certificate of registration shall be issued to an applicant who has been convicted of a felony within such period of time, the commission shall be governed by the provisions of section 24-5-101.

(VI)  The states in which the applicant has had a license or registration similar

to the developer's registration in this state granted, refused, suspended, or revoked or is currently the subject of an investigation or charges that could result in refusal, suspension, or revocation;

(VII)  Whether the developer or any other person financially interested in the

business of the developer as principal, partner, officer, director, or stockholder has engaged in any activity that would constitute a violation of this part 5.

(b)  If the applicant is a corporate developer, a copy of the certificate of

authority to do business in this state or a certificate of incorporation issued by the secretary of state shall accompany the application.

(3)  Registration information concerning the subdivision shall include:


(a)  The location of each subdivision from which sales are intended to be

made;

(b)  The name of each subdivision and the trade, corporate, or partnership

name used by the developer;

(c)  Evidence or certification that each subdivision offered for sale or lease is

registered or will be registered in accordance with state or local requirements of the state in which each subdivision is located;

(d)  Copies of documents evidencing the title or other interest in the

subdivision;

(e)  If there is a blanket encumbrance upon the title of the subdivision or any

other ownership, leasehold, or contractual interest that could defeat all possessory or ownership rights of a purchaser, a copy of the instruments creating the liens, encumbrances, or interests, with dates as to the recording, along with documentary evidence that any beneficiary, mortgagee, or trustee of a deed of trust or any other holder of the ownership, leasehold, or contractual interest will release any lot or time share from the blanket encumbrance or has subordinated its interest in the subdivision to the interest of any purchaser or has established any other arrangement acceptable to the commission that protects the rights of the purchaser;

(f)  A statement that standard commission-approved forms will be used for

contracts of sale, notes, deeds, and other legal documents used to effectuate the sale or lease of the subdivision or any part thereof, unless the forms to be used were prepared by an attorney representing the developer;

(g)  A true statement by the developer that, in any conveyance by means of

an installment contract, the purchaser shall be advised to record the contract with the proper authorities in the jurisdiction in which the subdivision is located. In no event shall any developer specifically prohibit the recording of the installment contract.

(h)  A true statement by the developer of the provisions for and availability of

legal access, sewage disposal, and public utilities, including water, electricity, gas, and telephone facilities, in the subdivision offered for sale or lease, including whether such are to be a developer or purchaser expense;

(i)  A true statement as to whether or not a survey of each lot, site, or tract

offered for sale or lease from the subdivision has been made and whether survey monuments are in place;

(j)  A true statement by the developer as to whether or not a common interest

community is to be or has been created within the subdivision and whether or not the common interest community is or will be a small cooperative or small and limited expense planned community created pursuant to section 38-33.3-116;

(k)  A true statement by the developer concerning the existence of any

common interest community association, including whether the developer controls funds in the association.

(4)  The commission may disapprove the form of the documents submitted

pursuant to subsection (3)(f) of this section and may deny an application for registration until such time as the applicant submits the documents in a form that is satisfactory to the commission.

(5)  Each registration shall be accompanied by fees established pursuant to

section 12-10-215.

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p.

657, � 1, effective October 1.

Editor's note: This section is similar to former � 12-61-403 as it existed prior

to 2019.

C.R.S. § 12-115-116

12-115-116. Exemptions - definition. (1) Employees of public service corporations, rural electrification associations, or municipal utilities generating, distributing, or selling electrical energy for light, heat, or power or for operating street railway systems, or telephone or telegraph systems, or their corporate affiliates and their employees or employees of railroad corporations, or lawfully permitted or franchised cable television companies and their employees shall not be required to hold licenses while doing electrical work for those purposes.

(2)  Nothing in this article 115 shall be construed to require any individual to

hold a license before doing electrical work on his or her own property or residence if all such electrical work, except for maintenance or repair of existing facilities, is inspected as provided in this article 115; if, however, the property or residence is intended for sale or resale by a person engaged in the business of constructing or remodeling the facilities or structures or is rental property that is occupied or is to be occupied by tenants for lodging, either transient or permanent, or is generally open to the public, the owner shall be responsible for, and the property shall be subject to, all of the provisions of this article 115 pertaining to inspection and licensing, unless specifically exempted therein.

(3) (a)  Nothing in this article 115 requires a regular employee of a firm or

corporation to hold a license before doing any electrical work on the property of the firm or corporation, whether or not the property is owned, leased, or rented if:

(I)  The firm or corporation employing the employee performing the work has

all the electrical work installed in conformity with the minimum standards as set forth in this article 115;

(II)  The work is subject to inspection by the board or its inspectors by request

in writing in accordance with section 12-115-120; and

(III)  The property of the firm or corporation is not generally open to the

public.

(b)  Neither a license for the firm or corporation, nor an inspection by the

board or its inspectors, nor the payment of any fees thereon shall be required, with the exception of inspection by the board or its inspectors when performed by written request. Nothing contained in this article 115 requires a license, an inspection by the board or its inspectors, or the payment of any fees for any electrical work performed for the maintenance or repair of existing facilities that are exempt as provided in this section.

(4)  If the property of any person, firm, or corporation is: Rental property or is

developed for sale, lease, or rental; occupied or is to be occupied by tenants for lodging, either transient or permanent; or generally open to the public, the property is subject to all the provisions of this article 115 pertaining to inspection and licensing; except that the maintenance or repair of existing property specified in this subsection (4) is not subject to this article 115.

(5)  Nothing in this article 115 shall be construed to cover the installation,

maintenance, repair, or alteration of vertical transportation or passenger conveyors, elevators, escalators, moving walks, dumbwaiters, stage lifts, man lifts, or appurtenances thereto beyond the terminals of the controllers. Furthermore, elevator contractors or constructors performing any installation, maintenance, repair, or alteration under this exemption, or their employees, shall not be covered by the licensing requirements of this article 115.

(6) (a)  Nothing in this article 115 shall be construed to require an individual to

hold a license before doing any maintenance or repair of existing facilities on his or her own property or residence, nor to require inspection by the board or its inspectors, nor to pay any fees connected therewith.

(b)  Nothing in this article 115 shall be construed to require any firm or

corporation or its regular employees to be required to hold a license before doing maintenance or repair of existing facilities on the property of the firm or corporation, whether or not the property is generally open to the public; nor shall inspection by the board or its inspectors or the payment of any fees connected therewith be required.

(c)  For the purposes of this subsection (6), maintenance or repair of existing

facilities means to preserve or keep in good repair lawfully installed facilities by repairing or replacing components with new components that serve the same purpose.

(7)  An individual, firm, copartnership, or corporation may engage in business

as an electrical contractor without an electrician's license if all electrical work performed by the individual, firm, copartnership, or corporation is under the direction and control of a licensed master electrician.

(8)  Any person who plugs in any electrical appliance where an approved

electrical outlet is already installed shall not be considered an installer.

(9)  No provision of this article 115 shall in any manner interfere with, hamper,

preclude, or prohibit any vendor of any electrical appliance from selling, delivering, and connecting any electrical appliance, if the connection of the appliance does not necessitate the installation of electrical wiring of the structure where the appliance is connected.

(10)  The provisions of this article 115 shall not be applicable to the

installation or laying of metal or plastic electrical conduits in bridge or highway projects where the conduits must be laid according to specifications complying with applicable electrical codes.

(11)  Repealed.


(12)  Inasmuch as electrical licensing and the examination of persons

performing electrical work is a matter of statewide concern, the examination, certification, licensing, or registration of electrical contractors, master electricians, journeymen electricians, residential wiremen, or apprentices who are licensed, registered, or certified under this article 115 shall not be required by any city, town, county, city and county, or qualified state institution of higher education; however, any such local governmental authority or qualified state institution of higher education may impose reasonable registration requirements on any electrical contractor as a condition of performing services within the jurisdiction of the authority or within buildings owned or leased or on land owned by the qualified state institution of higher education. No fee shall be charged for the registration.

(13)  The provisions of this article 115 shall not be applicable to any surface or

subsurface operation or property used in, around, or in conjunction with any mine that is inspected pursuant to the Federal Mine Safety and Health Amendments Act of 1977, Pub.L. 95-164, as amended, except permanent state highway tunnel facilities, which shall conform to standards based on the national electrical code. Nothing contained in this subsection (13) shall prohibit the department of transportation from adopting more stringent standards or requirements than those provided by the minimum standards specified in the national electrical code, and the department of transportation shall furnish a copy of the more stringent standards to the board.

(14) (a)  The permit and inspection provisions of this article 115 do not apply

to:

(I)  Installations under the exclusive control of electric utilities for the

purpose of communication or metering or for the generation, control, transformation, transmission, or distribution of electric energy, whether the installations are located in buildings used exclusively for utilities for those purposes or located outdoors on property owned or leased by the utility or on public highways, streets, or roads or outdoors by virtue of established rights on private property; or

(II)  Load control devices for electrical hot water heaters that are owned,

leased, or otherwise under the control of, and are operated by, an electric utility, and are on the load side of the single-family residential meter, if the equipment was installed by a registered electrical contractor. The contractor will notify appropriate local authorities that the work has been completed in order that an inspection may be made at the expense of the utility company.

(b)  This subsection (14) does not exempt any premises wiring on buildings,

structures, or other premises not owned by or under the exclusive control of the utility nor wiring in buildings used by the utility for purposes other than those listed in this subsection (14), such as office buildings, garages, warehouses, machine shops, and recreation buildings. This subsection (14) exempts all of the facilities, buildings, and the like inside the security fence of a generating station, substation, control center, or communication facility.

(15)  Nothing in this article 115 shall be construed to:


(a)  Cover the installation, maintenance, repair, or alteration of security

systems of fifty volts or less, lawn sprinkler systems, environmental controls, or remote radio-controlled systems beyond the terminals of the controllers. Furthermore, the contractors performing any installation, maintenance, repair, or alteration under this exemption, or their employees, shall not be covered by the licensing requirements of this article 115.

(b)  Cover the installation, maintenance, repair, or alteration of electronic

computer data processing equipment and systems beyond the terminals of the controllers. Furthermore, the contractors performing any installation, maintenance, repair, or alteration under this exemption, or their employees, shall not be covered by the licensing requirements of this article 115.

(c) (I)  Except to the extent that a communication system's cables and

systems utilized for conveying power are hard-wired into a building's electrical system but subject to subsection (16)(a) of this section, cover the installation, maintenance, repair, or alteration of communications systems, including:

(A)  Telephone and telegraph systems not exempted as utilities in subsection

(1) of this section;

(B)  Radio and television receiving and transmitting equipment and stations;

and

(C)  Antenna systems other than community antenna television systems

beyond the terminals of the controllers.

(II)  The contractors performing any installation, maintenance, repair, or

alteration under the exemption specified in this subsection (15)(c) and their employees are not covered by the licensing requirements of this article 115.

(d)  Cover the installation, maintenance, repair, or alteration of electric signs,

cranes, hoists, electroplating, industrial machinery, and irrigation machinery beyond the terminals of the controllers. Furthermore, the contractors performing any installation, maintenance, repair, or alteration under this exemption, or their employees, shall not be covered by the licensing requirements of this article 115.

(e)  Cover the installation, maintenance, repair, or alteration of equipment and

wiring for sound recording and reproduction systems, centralized distribution of sound systems, public address and speech-input systems, or electronic organs beyond the terminals of the controllers. Furthermore, the contractors performing any installation, maintenance, repair, or alteration under this exemption, or their employees, shall not be covered by the licensing requirements of this article 115.

(f)  Require either that employees of the federal government who perform

electrical work on federal property shall be required to be licensed before doing electrical work on the property or that the electrical work performed on the property shall be regulated pursuant to this article 115;

(g)  Require licensing that covers the installation, maintenance, repair, or

alteration of fire alarm systems operating at fifty volts or less. Furthermore, the contractors performing any installation, maintenance, repair, or alteration under this exemption, or their employees, shall not be covered by the licensing requirements of this article 115 but shall be subject to all provisions of this article 115 pertaining to inspections and permitting.

(16)  Nothing in this article 115 applies to:


(a) (I)  The installation, maintenance, repair, or alteration of class 2 and class

3 remote-control, signaling, and power-limited circuits, as defined by the national electrical code; or

(II)  Contractors or their employees performing any installation, maintenance,

repair, or alteration of the circuits specified in subsection (16)(a)(I) of this section; or

(b)  The installation, maintenance, repair, or alteration of traffic signals or

requires licensure for that work.

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p.

854, � 1, effective October 1; (3), (4), IP(14)(a), (14)(a)(II), and (15)(c) amended, (11) repealed, and (16) added, (SB 19-156), ch. 346, p. 3204, � 15, effective October 1.

Editor's note: (1)  This section is similar to former � 12-23-111 as it existed

prior to 2019.

(2)  Before its relocation in 2019, this section was amended in SB 19-156.

Those amendments were superseded by the repeal and reenactment of this title 12, effective October 1, 2019. For those amendments to the former section in effect from July 1, 2019, to October 1, 2019, see SB 19-156, chapter 346, Session Laws of Colorado 2019.

C.R.S. § 13-1-109

13-1-109. Court may appoint trustee. In all actions in any court of record of this state wherein any defendant is not found within the jurisdiction of the court and constructive service alone is had, and which is brought for the enforcement of an express, implied, or resulting trust, or for the removal of cloud from title to real estate, or for specific performance, or for the establishment of a lost or destroyed deed, conveyance, or instrument in writing, or for the establishment and proof of any conveyance, deed, or instrument in writing not properly proved and acknowledged, or in any other proceeding in rem, or affecting only specific property, where, according to the usual practice in courts of chancery, the court, if the defendant had been personally served, might direct or decree any act to be done or performed by the defendant in favor of plaintiff, the court may appoint a trustee for such defendant to do and perform in the place and stead of and for such defendant the acts required by the decree rendered in any such cause. Any act lawfully done by such trustee, under and in pursuance of any such decree, shall be as binding and effectual for all purposes as if done and performed by the defendant in pursuance of such decree.

Source: L. 1887: p. 254, � 1. R.S. 08: � 1408. C.L. � 5622. CSA: C. 46, � 13.

CRS 53: � 37-1-10. C.R.S. 1963: � 37-1-10.

C.R.S. § 13-21-201

13-21-201. Damages for death. (1) When any person dies from any injury resulting from or occasioned by the negligence, unskillfulness, or criminal intent of any officer, agent, servant, or employee while running, conducting, or managing any locomotive, car, or train of cars, or of any driver of any coach or other conveyance operated for the purpose of carrying either freight or passengers for hire while in charge of the same as a driver, and when any passenger dies from an injury resulting from or occasioned by any defect or insufficiency in any railroad or any part thereof, or in any locomotive or car, or other conveyance operated for the purpose of carrying either freight or passengers for hire, the corporation or individuals in whose employ any such officer, agent, servant, employee, master, pilot, engineer, or driver is at the time such injury is committed, or who owns any such railroad, locomotive, car, or other conveyance operated for the purpose of carrying either freight or passengers for hire at the time any such injury is received, and resulting from or occasioned by the defect or insufficiency above described shall forfeit and pay for every person and passenger so injured the sum of not exceeding ten thousand dollars and not less than three thousand dollars, which may be sued for and recovered:

(a)  In the first year after such death:


(I)  By the spouse of the deceased;


(II)  Upon the written election of the spouse, by the spouse and the heir or

heirs of the deceased;

(III)  Upon the written election of the spouse, by the heir or heirs of the

deceased;

(IV)  If there is no spouse, by the heir or heirs of the deceased or the

designated beneficiary, if there is one designated pursuant to article 22 of title 15, with the right to bring an action pursuant to this section, and if there is no designated beneficiary, by the heir or heirs of the deceased; or

(V)  If, at the time of death, there is no spouse, no heir or heirs, and no

designated beneficiary, or, if the deceased was an unmarried minor without descendants or an unmarried adult without descendants, and there is no mother and no father of the deceased, then by the sibling or siblings of the deceased or the heir or heirs of the sibling or siblings of the deceased.

(b) (I)  In the second year after such death:


(A)  By the spouse of the deceased;


(B)  By the heir or heirs of the deceased;


(C)  By the spouse and the heir or heirs of the deceased;


(D)  By the designated beneficiary of the deceased, if there is one designated

pursuant to article 22 of title 15, with the right to bring an action pursuant to this section, and the heir or heirs of the deceased; or

(E)  By the sibling or siblings of the deceased or the heir or heirs of the sibling

or siblings of the deceased, but only if, at the time of death, the deceased had no surviving spouse, no heir or heirs, and no designated beneficiary, or, if the deceased was an unmarried minor without descendants or an unmarried adult without descendants, and had no mother and no father.

(II)  However, if the heir or heirs of the deceased commence an action under

the provisions of sub-subparagraph (B) of subparagraph (I) of this paragraph (b), the spouse or the designated beneficiary of the deceased, if there is one designated pursuant to article 22 of title 15, C.R.S., with the right to bring an action pursuant to this section, upon motion filed within ninety days after service of written notice of the commencement of the action upon the spouse or designated beneficiary, shall be allowed to join the action as a party plaintiff.

(c) (I)  If the deceased is an unmarried minor without descendants or an

unmarried adult without descendants and without a designated beneficiary pursuant to article 22 of title 15, C.R.S., by the father or mother who may join in the suit. Except as provided in subparagraphs (II) and (III) of this paragraph (c), the father and mother shall have an equal interest in the judgment, or if either of them is dead, then the surviving parent shall have an exclusive interest in the judgment.

(II)  For cases in which the father and mother are divorced, separated, or

living apart, a motion may be filed by either the father or the mother prior to trial requesting the court to apportion fairly any judgment awarded in the case. Where such a motion is filed, the court shall conduct a post-judgment hearing at which the father and the mother shall have the opportunity to be heard and to produce evidence regarding each parent's relationship with the deceased child.

(III)  On conclusion of the post-judgment hearing conducted pursuant to

subparagraph (II) of this paragraph (c), the court shall fairly determine the percentage of the judgment to be awarded to each parent. In making such a determination, the court shall consider each parent's relationship with the deceased, including custody, control, support, parental responsibility, and any other factors the court deems pertinent. The court's determination of the percentage of the judgment awarded to each parent shall not be disturbed absent an abuse of discretion.

(d)  For purposes of this section, father or mother means a natural parent of

the deceased or a parent of the deceased by adoption. Father or mother does not include a person whose parental rights concerning the deceased were terminated pursuant to the provisions of title 19, C.R.S.

(2)  In suits instituted under this section, it is competent for the defendant for

his defense to show that the defect or insufficiency named in this section was not a negligent defect or insufficiency. The judgment obtained in an action under this section shall be owned by such persons as are heirs at law of the deceased under the statutes of descent and distribution and shall be divided among such heirs at law in the same manner as real estate is divided according to said statute of descent and distribution.

Source: G.L. � 877. G.S. � 1030. L. 07: p. 296, � 1. R.S. 08: � 2056. C.L. � 6302.

CSA: C. 50, � 1. L. 51: p. 338, � 1. CRS 53: � 41-1-1. C.R.S. 1963: � 41-1-1. L. 88: (1)(a), (1)(b), and (1)(c) R&RE and (2) amended, pp. 603, 604, �� 1, 2, effective July 1. L. 2000: (1)(c) amended and (1)(d) added, p. 169, � 1, effective July 1. L. 2009: (1) amended, (HB 09-1260), ch. 107, p. 441, � 6, effective July 1. L. 2024: (1)(a)(III), (1)(a)(IV), (1)(b)(I)(C), and (1)(b)(I)(D) amended and (1)(a)(V) and (1)(b)(I)(E) added, (HB 24-1472), ch. 325, p. 2172, � 3, effective January 1, 2025.

Cross references: (1)  For determination of death, see � 12-240-140.


(2)  For the legislative declaration in HB 24-1472, see section 1 of chapter

325, Session Laws of Colorado 2024.

C.R.S. § 13-32-104

13-32-104. Additional fees of clerks of courts. (1) On and after July 1, 2008, in addition to the fees provided in sections 13-32-101, 13-32-103, and 13-32-105 (1), the following fees shall be paid to the clerk of the court by the party ordering the same:

(a)  For preparing any record on appellate review, or for a copy of any record,

proceeding, or paper on file, where the copy is not furnished by the party ordering the same, thirty cents per folio or seventy-five cents per page for photographic copies;

(b)  For issuing and docketing each execution, and for filing the sheriff's

return of the same, a fee of forty-five dollars;

(c)  For a certificate of dismissal or no suit pending, a fee of twenty dollars;


(d)  For a certificate of satisfaction of judgment, a fee of twenty dollars;


(e)  For taking acknowledgment of any deed or other conveyance, including

clerk's certificate thereof, a fee of one dollar;

(f)  For certifying a copy of any record, proceeding, or paper on file, a fee of

twenty dollars;

(g)  For preparing and issuing a transcript of judgment, a fee of twenty-five

dollars; except that this fee shall not be charged for a judgment entered pursuant to section 18-1.3-701, C.R.S.;

(h)  For a certificate of exemplification of any record, proceeding, or paper on

file, a fee of twenty dollars;

(i)  For each service of process attempted pursuant to section 13-6-415, a fee

of the actual charge of the United States postal service for certified mail;

(j)  For issuing a writ of garnishment, a fee of forty-five dollars for each

garnishee named in the writ;

(k)  For issuing a writ of attachment, a fee of sixty-five dollars.


(2)  The clerk of the court shall assess a fifty-dollar penalty against any

person who issues a check returned for insufficient funds in payment of any court fees. The penalty provided in this section shall be assessed in addition to any other penalties or interest provided by law. For purposes of this section, the term insufficient funds means not having a sufficient balance in account with a bank or other drawee for the payment of a check when presented for payment within thirty days after issue.

(3) (a)  Each fee collected pursuant to paragraph (a) of subsection (1) of this