Colorado § 38-24.7-107 - Acknowledgment of satisfaction of lien - penalty.
Full text of Colorado Colorado Revised Statutes § 38-24.7-107 — Acknowledgment of satisfaction of lien - penalty., with citation guidance and answers to common questions.
§ 38-24.7-107. Acknowledgment of satisfaction of lien - penalty.
Whenever the indebtedness giving rise to a lien under this article is paid and satisfied, the lienor has the duty to acknowledge satisfaction of the indebtedness and to discharge the lien of record. If any lienor fails to acknowledge satisfaction and discharge of the lien within thirty days after being requested to do so by a person having a property interest in the assets and property of the retailer or other commercial user, including the stock in trade, business fixtures, and equipment owned or used by the retailer or other commercial user in the conduct of the retailer's or other commercial user's business, the lienor is liable to any person injured in the amount of the injury and the costs of the action.
Source: L. 2016: Entire article added, (SB 16-166), ch. 357, p. 1487, § 1, effective August 10.
ARTICLE 25
Uniform Federal Lien Registration Act
38-25-101. Short title.
38-25-101.5. Scope.
38-25-102. Federal liens - places of filing.
38-25-103. Execution of notices and certificates.
38-25-104. Duties of filing officer.
38-25-105. Fees.
38-25-106. Lien not valid until notice filed.
38-25-107. Uniformity of interpretation.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 38-24.7-107
What does Colorado Revised Statutes § 38-24.7-107 cover?
Section 38-24.7-107 ("Acknowledgment of satisfaction of lien - penalty.") 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 § 38-24.7-107?
A common citation format is "Colorado Revised Statutes § 38-24.7-107" (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 § 38-24.7-107 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.