Colorado § 15-1.2-415 - Asset-backed security.
Full text of Colorado Colorado Revised Statutes § 15-1.2-415 — Asset-backed security., with citation guidance and answers to common questions.
§ 15-1.2-415. Asset-backed security.
(1) Except as otherwise provided in subsection (2) of this section, a fiduciary shall allocate to income a receipt from or related to an asset-backed security, to the extent the payor identifies the payment as being from interest or other current return, and to principal the balance of the receipt.
(2) If a fiduciary receives one or more payments in exchange for part or all of the fiduciary's interest in an asset-backed security, including a liquidation or redemption of the fiduciary's interest in the security, the fiduciary shall allocate to income ten percent of receipts from the transaction and ten percent of disbursements made in connection with the transaction, and to principal the balance of the receipts and disbursements.
Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 831, § 1, effective January 1, 2022.
Frequently Asked Questions About Colorado § 15-1.2-415
What does Colorado Revised Statutes § 15-1.2-415 cover?
Section 15-1.2-415 ("Asset-backed security.") 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 § 15-1.2-415?
A common citation format is "Colorado Revised Statutes § 15-1.2-415" (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 § 15-1.2-415 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.