Under current law, when real property is sold in a foreclosure sale for an amount above the value of the lien on the property, any excess amount (overbid), after paying all junior lienors, is paid to the owner of the property as of the recording of the election to foreclose. The act requires that any overbid is instead paid to the person liable under the related evidence of debt constituting a mortgage loan or deed of trust.The act also adds to the definition of "qualified holder" a private company that originates, insures, guaranties, or purchases loans on behalf of a holder of evidence of debt that is secured by a deed of trust encumbering a time share estate with a minimum of $5 million in assets or not less than 1,000 loans.(Note: This summary applies to this bill as enacted.)
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A state or local public body conducting a search for a chief executive officer of an agency, authority, institution, or other entity is required to name one or more candidates as finalists and to make the finalist or finalists public prior to making an offer of employment. The application materials of an applicant for any employment position, including an applicant for an executive position who is not a finalist, are not subject to public inspection under the "Colorado Open Records Act". The act repeals a provision requiring that, if 3 or fewer candidates for an executive position meet the minimum requirements for the position, all of those candidates must be treated as finalists and their application materials are public records. The act requires the disclosure of demographic data concerning the race and gender of a candidate who was interviewed but not named as a finalist for a chief executive officer position, if that information was legally requested and voluntarily provided.(Note: This summary applies to this bill as enacted.)
The act allows counties, municipalities, and special districts to exempt up to 100% of business personal property from the levy and collection of property taxation for the 2021 property tax year.(Note: This summary applies to this bill as enacted.)
The act facilitates business entities' ability to conduct business activities electronically by:Defining terms, including address, delivery, document, e-mail, electronic transmission, notice, and sign, that relate to electronic communications; Specifying how notice may be given by electronic transmission; and Establishing requirements for remote participation in shareholders' and directors' meetings.(Note: This summary applies to this bill as enacted.)
Current law requires the commissioner of insurance (commissioner) to appoint 2 members to the workers' compensation classification appeals board who are salaried employees of an insurance company that issues workers' compensation insurance policies in this state or who are representatives of Pinnacol Assurance, but both members may not be representatives of Pinnacol Assurance or of the same insurance company.The act requires the commissioner to appoint:One member who is a salaried employee of an insurance company or a representative of Pinnacol Assurance; and One member who is a salaried employee of an insurance company, a representative of Pinnacol Assurance, or an insurance agent. The act maintains the prohibition against appointing a representative of Pinnacol Assurance or of the same insurance company to both positions on the board. The act also gives the commissioner the option to appoint an insurance agent to serve as an alternate member if one of the appointed members recuses himself or herself. The act continues the workers' compensation classification appeals board until 2032.(Note: This summary applies to this bill as enacted.)
The act defines and exempts a financial organization loyalty card from the property that is subject to the "Revised Uniform Unclaimed Property Act". The act also repeals the presumption of abandonment in the act that took effect on July 1, 2020, for demand, savings, or time deposits with a financial organization, and replaces it by reenacting the similar version that was in effect prior to July 1, 2020, which has the same 5-year period for property to be presumed abandoned but has different owner activities that rebut the presumption of abandonment. The act also delays the time that a financial organization is required to deliver this property to the administrator if a penalty or forfeiture in the payment of interest would result from the delivery of the property. With respect to the administrator's reporting of information about an apparent owner, the act:Repeals the requirement that the administrator's record of persons, which includes the apparent owner's name and last-known address, be available for inspection; and Repeals the administrator's authority to identify the physical address of an apparent owner in published notices and on the website.(Note: This summary applies to this bill as enacted.)
A board of county commissioners is authorized to require the registration of businesses in the unincorporated portions of the county.(Note: This summary applies to this bill as enacted.)
An entity is not liable for any damages that result from exposure, loss, damage, injury, or death arising out of COVID-19 unless: A claimant proves by clear and convincing evidence that the exposure, loss, damage, injury, or death was caused by the entity's failure to comply with public health guidelines; or The exposure, loss, damage, injury, or death was caused by gross negligence or a willful and wanton act or omission of the entity. The bill is repealed 2 years after the date the governor terminates the state of disaster emergency declared on March 11, 2020. (Note: This summary applies to this bill as introduced.)
The During a declared public health disaster emergency, the bill authorizes counties and municipalities to enact ordinances and resolutions that: Limit the amount of the fee , excluding a fee related to credit card processing, that a third-party delivery service may charge to a retail food establishment in a county or municipality where indoor dining is prohibited at a capacity of at least 50% or below at the discretion of the county or municipality ; Restrict the ability of a third-party food delivery service to reduce the compensation rate or tips paid to a delivery driver or retail food establishment to offset revenue reductions resulting from a fee limit; Require that any fee or commission charged to a retail food establishment be disclosed by the third-party food delivery service to the customer; and Restrict a third-party food delivery service's ability to service, or disclose any information about, service a retail food establishment without the retail food establishment's consent; and consent. Impose civil penalties for a violation of any ordinance or resolution enacted. The bill also immunizes any county or municipality that enacts an ordinance or a resolution as authorized by the bill from liability for economic damage suffered as a result of the ordinance or resolution. (Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.) (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
The act allows county clerk and recorders to receive and preserve original plats for recording in an electronic format. The act also specifies the conditions for properly submitting plats to county clerk and recorders in both electronic and original formats. (Note: This summary applies to this bill as enacted.)