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Can you summarize 38 CORS Article 13?
Unclaimed Property > Unclaimed Property Act
Short Summary
The Unclaimed Property Act establishes the framework for the identification, reporting, and return of unclaimed property in Colorado. It applies to various individuals and entities, including banking organizations, business associations, financial organizations, insurance companies, utilities, and the public employees’ retirement association. The Act defines key terms such as ‘administrator’, ‘apparent owner’, and ‘holder’. It also includes definitions for specific types of property. The Act does not apply to certain exemptions, such as unclaimed capital credit payments held by cooperative electric associations and telephone cooperatives. The document does not mention any specific penalties for non-compliance or violations.
Whom does it apply to?
The Act applies to various individuals and entities, including banking organizations, business associations, financial organizations, insurance companies, utilities, and the public employees' retirement association.
What does it govern?
The Unclaimed Property Act governs the handling of unclaimed property in Colorado.
What are exemptions?
The Act does not apply to certain exemptions, such as unclaimed capital credit payments held by cooperative electric associations and telephone cooperatives.
What are the Penalties?
The document does not mention any specific penalties for non-compliance or violations.
Jurisdiction
Colorado