Colorado § 38-13-1302 - When agreement to locate property void - rules.
Full text of Colorado Colorado Revised Statutes § 38-13-1302 — When agreement to locate property void - rules., with citation guidance and answers to common questions.
§ 38-13-1302. When agreement to locate property void - rules.
(1) Subject to subsection (2) of this section, an agreement under section 38-13-1301 is void if it is entered into during the period beginning on the date the property was paid or delivered by a holder to the administrator and ending twenty-four months after the payment or delivery.
(2) If a provision in an agreement described in subsection (1) of this section applies to mineral proceeds for which compensation is to be paid to the other person based in whole or in part on a part of the underlying minerals or mineral proceeds not then presumed abandoned, the provision is void regardless of when the agreement was entered into.
(3) The administrator shall adopt rules governing the maximum compensation in an agreement under subsection (1) of this section. An agreement that provides for compensation in an amount that exceeds the maximum amount established by rule is unenforceable except by the apparent owner. An apparent owner or the administrator, acting on behalf of an apparent owner, or both, may file an action in the district court for the city and county of Denver to reduce the compensation to the maximum amount. On the final determination of an action filed under this subsection (3), the court may, on application, award the plaintiff its reasonable attorney fees, costs, and expenses of litigation.
(4) An apparent owner or the administrator may assert that an agreement described in this section is void on a ground other than it provides for payment of unconscionable compensation.
(5) This section does not apply to an apparent owner's agreement with an attorney to pursue a claim for recovery of specifically identified property held by the administrator or to contest the administrator's denial of a claim for recovery of the property.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 455, § 1, effective July 1, 2020.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 38-13-1302
What does Colorado Revised Statutes § 38-13-1302 cover?
Section 38-13-1302 ("When agreement to locate property void - rules.") 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 § 38-13-1302?
A common citation format is "Colorado Revised Statutes § 38-13-1302" (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 § 38-13-1302 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.