First Regular Session
               Seventieth General Assembly
                    STATE OF COLORADO
                                                 INTRODUCED
                                                           
                                                           
 LLS NO. 15-0141.01 Duane Gall x4335     HOUSE BILL 15-1311
                    HOUSE SPONSORSHIP
 McCann, 
 
                   SENATE SPONSORSHIP
 Ulibarri, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 House Committees
 Senate Committees
 
 
 Local Government
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                         A BILL FOR AN ACT
       Concerning the duties of the public trustee in administering
            foreclosure sales, and, in connection therewith,
            requiring that the public trustee provide all
            interested parties with information about the
            applicable laws.
       
       
                           Bill Summary
       
            (Note:  This summary applies to this bill as introduced and does
       not reflect any amendments that may be subsequently adopted. If this bill
       passes third reading in the house of introduction, a bill summary that
       applies to the reengrossed version of this bill will be available at
       http://www.leg.state.co.us/billsummaries.)
       
            Under current law, the public trustee is required to send specified
       notices to all persons identified as having an interest in property subject
       to a foreclosure and to accompany all notices with copies of selected
       statutes governing the conduct of the foreclosure sale. The bill replaces
       the requirement to send copies of the statutes with a requirement to send
       an information sheet outlining the key provisions of the statutes, in a form
       approved by the attorney general, together with:
                 Instructions on how to obtain copies of the entire text of the
                 statutes;
                 The electronic address for the general assembly's web site;
                 and
                 A disclaimer that the information sheet is not legal advice
                 and that, in the case of any inconsistency between the
                 information sheet and the statutes, the statutes control.
       
       
       
       Be it enacted by the General Assembly of the State of Colorado:
            SECTION 1.  In Colorado Revised Statutes, 38-38-103, amend
       (4) (b) and (5) (a) as follows:
            38-38-103.  Combined notice - publication - providing
       information. (4) (b)  A legible copy The officer shall include with
       any notices sent pursuant to this section an information sheet
       outlining the key provisions of this section and sections 38-37-108,
       38-38-103.2, 38-38-104, 38-38-301, 38-38-302, 38-38-304, 38-38-305,
       and 38-38-306. shall be sent with all notices pursuant to this section. The
       information sheet must be approved initially, and again when
       there is a change in the language of the relevant sections, by
       the office of the attorney general and must include:
            (I)  Instructions on how to obtain copies of the entire text
       of the referenced sections;
            (II)  The electronic address for the Colorado general
       assembly's web site; and
            (III)  At the top of each page, in capital letters, the
       following disclaimer:
            THIS INFORMATION SHEET IS NOT LEGAL ADVICE.
            IT IS PROVIDED FOR YOUR INFORMATION ONLY.
            IF THERE IS ANY INCONSISTENCY BETWEEN THIS
            INFORMATION SHEET AND THE PROVISIONS OF
            THE COLORADO REVISED STATUTES GOVERNING
            FORECLOSURES, THE PROVISIONS OF THE
            COLORADO REVISED STATUTES GOVERN AND
            CONTROL.
            (5) (a)  No more than sixty calendar days nor less fewer than
       forty-five calendar days prior to the first scheduled date of sale, unless a
       longer period of publication is specified in the deed of trust or other lien
       being foreclosed, a deed of trust or other lien being foreclosed shall be
       deemed to require the officer to commence publication of the combined
       notice, omitting both the statements under subparagraphs (II), and (III),
       and (VIII) of paragraph (a) of subsection (4) of this section and the
       copies of information sheet pertaining to the statutes under
       paragraph (b) of subsection (4) of this section and adding the first and last
       publication dates if not already specified in the combined notice, for four
       weeks, which means publication once each week for five consecutive
       weeks.
            SECTION 2.  Act subject to petition - effective date -
       applicability. (1)  This act takes effect January 1, 2016; except that, if a
       referendum petition is filed pursuant to section 1 (3) of article V of the
       state constitution against this act or an item, section, or part of this act
       within the ninety-day period after final adjournment of the general
       assembly, then the act, item, section, or part will not take effect unless
       approved by the people at the general election to be held in November
       2016 and, in such case, will take effect on January 1, 2016, or on the date
       of the official declaration of the vote thereon by the governor, whichever
       is later.
            (2)  This act applies to foreclosure proceedings in which the notice
       of election and demand is filed on or after the applicable effective date of
       this act.