NOTE: The governor signed this measure on 5/29/2015.
      
      
      HOUSE BILL 15-1371
      
      
      BY REPRESENTATIVE(S) Pabon and Willett, Coram, Duran, Kagan;
      also SENATOR(S) Johnston, Roberts, Steadman.
      
      
      Concerning an exemption to the "Unclaimed Property Act" for
           funds held in certain lawyer trust accounts.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 38-13-102, add (8.1)
      as follows:
      
           38-13-102.  Definitions and use of terms. As used in this article,
      unless the context otherwise requires:
      
           (8.1)  "Lawyer COLTAF trust account" means a Colorado
      lawyer trust account foundation trust account in which a
      lawyer, in accordance with the lawyer's professional
      obligations, holds funds of clients or third persons that are
      nominal in amount or that are expected to be held for a short
      period.
      
           SECTION 2.  In Colorado Revised Statutes, add 38-13-108.3 as
      follows:
      
           38-13-108.3.  Funds held in lawyer COLTAF trust accounts -
      exemption. This article does not apply to funds held in lawyer
      COLTAF trust accounts.
      
           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.
      
      
      
      
      ________________________________________________________
      Dickey Lee Hullinghorst                Bill L. Cadman
      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