Colorado § 38-13-607 - Administrator's options as to custody.
Full text of Colorado Colorado Revised Statutes § 38-13-607 — Administrator's options as to custody., with citation guidance and answers to common questions.
§ 38-13-607. Administrator's options as to custody.
(1) The administrator may decline to take custody of property reported under section 38-13-401 if the administrator determines that:
(a) The property has a value less than the estimated expenses of notice and sale of the property; or
(b) Taking custody of the property would be unlawful.
(2) A holder may pay or deliver property to the administrator before the property is presumed abandoned under this article 13 if the holder:
(a) Sends the apparent owner of the property the notice or notices required by section 38-13-501 and provides the administrator evidence of the holder's compliance with this subsection (2)(a);
(b) Includes with the payment or delivery a report regarding the property conforming to section 38-13-402; and
(c) First obtains the administrator's consent in a record to accept payment or delivery.
(3) A holder's request for the administrator's consent under subsection (2)(c) of this section must be in a record. If the administrator fails to respond to the request not later than thirty days after receipt of the request, the administrator is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith.
(4) On payment or delivery of property under subsection (2) of this section, the property is presumed abandoned.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 434, § 1, effective July 1, 2020.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 38-13-607
What does Colorado Revised Statutes § 38-13-607 cover?
Section 38-13-607 ("Administrator's options as to custody.") 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 § 38-13-607?
A common citation format is "Colorado Revised Statutes § 38-13-607" (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 § 38-13-607 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.