Colorado § 31-30.5-208 - Fund not subject to levy.

§ 31-30.5-208. Fund not subject to levy.

Except for assignments for child support purposes as provided for in sections 14-10-118 (1) and 14-14-107, C.R.S., as they existed prior to July 1, 1996, for income assignments for child support purposes pursuant to section 14-14-111.5, C.R.S., for writs of garnishment that are the result of a judgment taken for arrearages for child support or for child support debt, for payments made in compliance with a properly executed court order approving a written agreement entered into pursuant to section 14-10-113 (6), C.R.S., and for restitution that is required to be paid for the theft, embezzlement, misappropriation, or wrongful conversion of public property or in the event of a judgment for a willful and intentional violation of fiduciary duties pursuant to this article where the offender or a related party received direct financial gain, no portion of the fund, before or after its order for distribution by the board to the persons entitled thereto, shall be held, seized, taken, subjected to, detained, or levied on by virtue of any attachment, execution, injunction, writ, interlocutory or other order or decree, or process or proceeding whatsoever issued out of or by any court of this state for the payment or satisfaction, in whole or in part, of any debt, damage, claim, demand, or judgment against the employer or the beneficiary of the fund. Said fund shall be held and distributed for the purposes of this article and for no other purpose whatsoever.

Source: L. 96: Entire article added with relocations, p. 864, § 1, effective May 23; entire section amended, p. 627, § 45, effective July 1; entire section amended, p. 1464, § 13, effective January 1, 1997. L. 2005: Entire section amended, p. 75, § 12, effective August 8.

ANNOTATION

Annotator's note. Since § 31-30.5-208 is similar to §§ 31-30-313 and 31-30-412 as they existed prior to the 1996 amendment that relocated parts 3 through 10 of article 30, relevant cases construing those sections have been included in the annotations to this section.

Intent of section. This section and section 31-30-412 are obviously intended to protect the pension funds from attachment and levy by creditors. Conrad v. City of Thornton, 191 Colo. 444, 553 P.2d 822 (1976).

Reason for restriction on use of pension funds. This section and section 31-30-412 place a restriction on the use of pension funds in order to secure the funds for the use and benefit of the firemen and policemen who contributed to the fund. Conrad v. City of Thornton, 191 Colo. 444, 553 P.2d 822 (1976).