Colorado § 38-13-702 - Disposal of securities - definition.
Full text of Colorado Colorado Revised Statutes § 38-13-702 — Disposal of securities - definition., with citation guidance and answers to common questions.
§ 38-13-702. Disposal of securities - definition.
(1) The administrator shall not sell or otherwise liquidate a security until three years after the administrator receives the security and gives the apparent owner notice under section 38-13-503 that the administrator holds the security. This subsection (1) applies to any security presumed abandoned under section 38-13-208 with a commencement date, reported under section 38-13-402, that is on or after July 1, 2014.
(2) Except as otherwise provided in subsection (3) of this section, the administrator shall not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially reasonable method.
(3) (a) The administrator may sell a thinly traded security that is listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale by any commercially reasonable method and at any time after the three-year period set forth in subsection (1) of this section has passed if the administrator determines, in the administrator's sole discretion, that there are no buyers for the thinly traded security at the price prevailing on the exchange at the time of sale. If the administrator determines that the thinly traded security has no substantial commercial value or that the costs of disposing of it will exceed its value, the administrator may return it to the holder or destroy or otherwise dispose of it as authorized by section 38-13-608.
(b) As used in this section, unless the context otherwise requires, "thinly traded security" means a security that cannot be easily sold or exchanged for cash without causing a significant change in the price of the security.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 436, § 1, effective July 1, 2020. L. 2025: (2) amended and (3) added, (HB 25-1224), ch. 440, p. 2536, § 11, effective June 4.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 38-13-702
What does Colorado Revised Statutes § 38-13-702 cover?
Section 38-13-702 ("Disposal of securities - definition.") 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 § 38-13-702?
A common citation format is "Colorado Revised Statutes § 38-13-702" (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 § 38-13-702 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.