Colorado § 11-111-113 - Term and termination.
Full text of Colorado Colorado Revised Statutes § 11-111-113 — Term and termination., with citation guidance and answers to common questions.
§ 11-111-113. Term and termination.
(1) Unless otherwise provided in the account agreement, a special deposit terminates five years after the date the special deposit was first funded.
(2) Unless otherwise provided in the account agreement, if the bank cannot identify or locate a beneficiary entitled to payment when the special deposit is terminated, and a balance remains in the special deposit, the bank shall pay the balance to the depositor or depositors as a beneficiary or beneficiaries.
(3) A bank that pays the remaining balance as provided under subsection (2) of this section has no further obligation with respect to the special deposit.
Source: L. 2024: Entire article added, (HB 24-1232), ch. 200, p. 1228, § 1, effective August 7.
Frequently Asked Questions About Colorado § 11-111-113
What does Colorado Revised Statutes § 11-111-113 cover?
Section 11-111-113 ("Term and termination.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 11-111-113?
A common citation format is "Colorado Revised Statutes § 11-111-113" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 11-111-113 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.