j_ccu_2017a_2017-09-22t13:35:00z3 Hearing Summary

Date: 09/22/2017

Location: SCR 352

03:11 PM -- Acts previously adopted by the Uniform Law Commission



4. b. Acts previously adopted by the Uniform Law Commission:

i. Revised Uniform Unclaimed Property Act - John Burrus, Independent Bankers of Colorado,stated that, if the act proceeds to introduction, the effective date should be far enough in the future to allow for the adequate retraining of personnel. He also expressed concerns regarding the act allowing the state to subcontract with non-state entities in the examination of records. The commission suggested that there may be interest in proceeding with the act this year and should the act move forward, the commission would certainly continue to involve interested parties.

ii. Uniform Wage Garnishment Act – Tom Romola, Associated Collection Agencies of Colorado, Wyoming, and New Mexico, feels that Colorado already has some of the best wage garnishment statutes in the nation and does not need this act. Concerns with the act include some of the notice requirements, the additional information required from employers on forms, and the increase in time needed for employers to respond to the additional questions. Scott Allely, Associated Collection Agencies of Colorado, Wyoming, and New Mexico and as a local business owner, stated that although this act may benefit large payroll processing companies, it would be more burdensome and costly to employers doing their own payroll, to creditors, and to consumers. There are more notices, calculations, and tracking required on the multiple writs the act would allow. The commission noted that there are also bigger picture items to be considered in the act, including notifying debtors of the garnishment amounts and allowing service in Colorado to debtors living in another state.

iii. 2016 amendment to RULONA regarding electronic notarization - Charles Calvin, CBA Real Estate Section. The Secretary of State’s (SOS) office has a task force working on a bill draft in the process and that the ULC act may no longer be necessary. The CBA does have some concerns with the SOS’s bill and are addressing them with the SOS. The commission noted that the ULC is also making amendments to the act, technology demands are moving this act forward very quickly, and that the three-year process of the ULC may be a problem with regard to these issues.