Colorado § 24-91-106 - Escrow agreement - authority to enter into - effect on acceptable securities.
Full text of Colorado Colorado Revised Statutes § 24-91-106 — Escrow agreement - authority to enter into - effect on acceptable securities., with citation guidance and answers to common questions.
§ 24-91-106. Escrow agreement - authority to enter into - effect on acceptable securities.
(1) A public entity and the contractor may enter into an escrow contract or escrow contract and security agreement with any national bank, state bank, trust company, or savings and loan association located in this state and designated by mutual agreement of the public entity and the contractor, after notice to the surety, to provide as escrow agent for the custodial care and servicing of any acceptable securities deposited with him pursuant to this section. Such services shall include the safekeeping of the acceptable securities and the rendering of all services required to effectuate the purposes of this section and section 38-26-107, C.R.S.
(2) Any acceptable securities deposited with an escrow agent pursuant to this section shall be deemed to be in the possession of the public entity, and the public entity shall be deemed to have a perfected security interest in the acceptable securities for purposes of article 8 or 9 of title 4, C.R.S.
(3) The deposit of acceptable securities with a state or national bank, or a state or federal savings and loan association, shall not be deemed a holding of public deposits for purposes of article 10.5 or 47 of title 11, C.R.S.
Source: L. 79: Entire article added, p. 997, § 1, effective July 1. L. 86: Entire section amended, p. 972, § 4, effective July 1. L. 96: (2) amended, p. 246, § 24, effective July 1.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 24-91-106
What does Colorado Revised Statutes § 24-91-106 cover?
Section 24-91-106 ("Escrow agreement - authority to enter into - effect on acceptable securities.") 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 § 24-91-106?
A common citation format is "Colorado Revised Statutes § 24-91-106" (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 § 24-91-106 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.