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95EC01C345CC25FD8725837F00714CA3 Hearing Summary




PUBLIC
BILL SUMMARY For LLS 19-0158: REVISED UNCLAIMED PROPERTY ACT

JOINT COMMITTEE COMMITTEE ON COLORADO COMMISSION ON UNIFORM STATE LAWS
Date Jan 11, 2019      
Location HCR 0112



LLS 19-0158: Revised Unclaimed Property Act - Public Testimony & Commission Discussion


01:37:36 PM  

    John Burrus, Independent Bankers of Colorado, stated that most of his concerns had been addressed during the drafting process. His two remaining concerns deal with reasonable determination language in a couple of sections and contingency fee arrangements. He thanked the commission for working with him.

    The commission noted that the Treasurer's office has used contingency fee auditors for out-of-state audits for some time and that the commission will need to keep the contingency fee arrangements in the act but will consider changes regarding his other concern. Commissioner Gardner, as the bill's sponsor, indicated that he will continue to work with stakeholders and that the bill could continue to change after introduction during the legislative process. The commission thanked Commissioners Gardner and Levy and Mr. Burrus for their work on the act.