NOTE: The governor signed this measure on 5/2/2014.
      
      
      HOUSE BILL 14-1302
      
      
      BY REPRESENTATIVE(S) Buckner, Exum, Fields, Foote, Kagan,
      McLachlan, Pettersen, Schafer, Tyler, Vigil;
      also SENATOR(S) Johnston.
      
      
      Concerning the addition of a judgment against a debtor or
           transferee who acts with actual intent as an available
           remedy for a creditor in a fraudulent transfer action.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 38-8-108, amend (1)
      as follows:
      
           38-8-108.  Remedies of creditors. (1)  In an action for relief against
      a transfer or obligation under this article, a creditor, subject to the
      limitations in section 38-8-109, may obtain:
      
           (a)  Avoidance of the transfer or obligation to the extent necessary
      to satisfy the creditor's claim;
      
           (b)  An attachment or other provisional remedy against the asset
      transferred or other property of the transferee in accordance with the
      procedure prescribed by the Colorado rules of civil procedure;
      
           (c)  With respect to a transfer made or obligation incurred
      that is fraudulent under section 38-8-105 (1) (a), a judgment for
      one and one-half the value of the asset transferred or for one
      and one-half the amount necessary to satisfy the creditor's
      claim, whichever is less, together with the creditor's actual
      costs; except that any judgment entered against a person under
      this paragraph (c) is in lieu of, not in addition to, a judgment
      against the same person under section 38-8-109 (2). No judgment
      may be entered pursuant to this paragraph (c) against a person
      other than the debtor unless that person also acts with
      wrongful intent as defined in section 38-8-105 (1) (a); otherwise,
      judgment for money damages against a person other than the
      debtor may be entered only as provided in section 38-8-109. No
      judgment may be entered under this paragraph (c) unless a court
      of competent jurisdiction enters or has entered a judgment or
      order establishing the validity of the creditor's claim against the
      debtor.
      
           (c) (d)  Subject to applicable principles of equity and in accordance
      with applicable rules of civil procedure:
      
           (I)  An injunction against further disposition by the debtor or a
      transferee, or both, of the asset transferred or of other property;
      
           (II)  Appointment of a receiver to take charge of the asset transferred
      or of other property of the transferee; or
      
           (III)  Any other relief the circumstances may require.
      
           SECTION 2.  Applicability. This act applies to actions for relief
      filed on or after the effective date of this act.
      
           SECTION 3.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ________________________________________________________
      Mark Ferrandino                        Morgan Carroll
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO