Colorado § 15-14-717 - Agent's liability.
Full text of Colorado Colorado Revised Statutes § 15-14-717 — Agent's liability., with citation guidance and answers to common questions.
§ 15-14-717. Agent's liability.
(1) An agent that violates this part 7 is liable to the principal or the principal's successors in interest for the amount required to:
(a) Restore the value of the principal's property to what it would have been had the violation not occurred; and
(b) Reimburse the principal or the principal's successors in interest for the attorney's fees and costs paid on the agent's behalf.
Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 393, § 1, effective April 9.
OFFICIAL COMMENT
This section provides that an agent's liability for violating the Act includes not only the amount necessary to restore the principal's property to what it would have been had the violation not occurred, but also any amounts for attorney's fees and costs advanced from the principal's property on the agent's behalf. This section does not, however, limit the agent's liability exposure to these amounts. Pursuant to Section 15-14-723, remedies under the Act are not exclusive. If a jurisdiction has enacted separate statutes to deal with financial abuse, an agent may face additional civil or criminal liability. For a discussion of state statutory responses to financial abuse, see Carolyn L. Dessin, Financial Abuse of the Elderly: Is the Solution a Problem?, 34 McGeorge L. Rev. 267 (2003).
Frequently Asked Questions About Colorado § 15-14-717
What does Colorado Revised Statutes § 15-14-717 cover?
Section 15-14-717 ("Agent's liability.") 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 § 15-14-717?
A common citation format is "Colorado Revised Statutes § 15-14-717" (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 § 15-14-717 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.