S.B. 04-108 Unclaimed property - exclusions - waiver of right to claim property - verification exception - transfer of state-owned unclaimed property. Excludes gaming award points and gaming chips or tokens issued or sold by a licensed gaming establishment that have not been taken into the state's custody by January 1, 2004, from the provisions of the "Unclaimed Property Act". Defines "gaming award points", "gaming chip or token", and "licensed gaming establishment".
Allows an owner of property in the custody of the administrator of the unclaimed property program (administrator) to waive the right to claim the property. Upon receipt of a waiver, requires the administrator to transfer the property to the CoverColorado cash fund. Relieves the state of any liability for property that has been transferred to the cash fund pursuant to a waiver that has been received.
Allows the administrator to waive the requirement that a person claiming property from the unclaimed property program verify the claim if the value of the property is less than or equal to $100.
Allows the administrator, upon a determination that unclaimed property belongs to the state or a state governmental agency, to transfer the property to an operating account of the state or agency.
APPROVED by Governor June 4, 2004
EFFECTIVE August 4, 2004
NOTE: This act was passed without a safety clause. For further explanation concerning the
effective date, see page vi of this digest.
H.B. 04-1157 Manufactured home - certificate of title. Prior to the sale or transfer of a manufactured home, requires the legal holder of a certificate of title to the manufactured home to provide a copy of the certificate of title to any title insurance agent, title insurance company, or financial institution requesting information related to the payoff of a mortgage within 14 days of the request. Requires the legal holder of a certificate of title to deliver the certificate of title to a title insurance agent within 45 days, in specified circumstances. Establishes an alternative procedure if the holder lost the certificate of title. Requires the title insurance agent to present the certificate of title to the person in whose name the certificate of title is issued or to an authorized agent. Establishes a civil cause of action for failure to comply with the foregoing requirements related to a certificate of title. Requires a manufactured home for which a Colorado certificate of title has been issued to continue to be valued and taxed separately from the land on which it sits until the title has been purged and the manufactured home becomes real property.
APPROVED by Governor May 21, 2004
EFFECTIVE August 4, 2004
NOTE: This act was passed without a safety clause. For further explanation concerning the
effective date, see page vi of this digest.
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