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Colorado statute

C.R.S. § 18-5-505 — Failure to pay over proceeds unlawful.

Current through 2025 Regular Session

Part of Part 5: OFFENSES RELATING TO THE UNIFORM COMMERCIAL CODE, Colorado Revised Statutes.

Criminal charges under this statute

Full text of C.R.S. § 18-5-505

Statutory text current through the 2025 Regular Session. This is an officially sanctioned publication using the official text of the Colorado Revised Statutes; it is not the official statutes of the State of Colorado.

C.R.S. § 18-5-505Primary source, current through the 2025 Regular Session
(1) When, under the terms of an instrument creating a security interest in personal property, as security interest is defined in section 4-1-201 (b)(35), the person giving the security interest and retaining possession of the encumbered property and having liberty of sale or other disposition, is required to account to the secured creditor for the proceeds of the sale or other disposition, and willfully and wrongfully fails to pay to the secured creditor the amounts due on account thereof, the person giving the security interest commits failure to pay over proceeds. (2) Failure to pay over proceeds is: (a) A petty offense if the amount is less than three hundred dollars; (b) A class 2 misdemeanor if the amount is three hundred dollars or more but less than one thousand dollars; (c) A class 1 misdemeanor if the amount is one thousand dollars or more but less than two thousand dollars; (d) A class 6 felony if the amount is more than two thousand dollars but less than five thousand dollars; (e) A class 5 felony if the amount is five thousand dollars or more but less than twenty thousand dollars; (f) A class 4 felony if the amount is twenty thousand dollars or more but less than one hundred thousand dollars; (g) A class 3 felony if the amount is one hundred thousand dollars or more but less than one million dollars; and (h) A class 2 felony if the amount is one million dollars or more.

Official sources

Legal terms used in this section

Questions this section answers

Is failure to pay over proceeds unlawful a felony or a misdemeanor in Colorado?

It depends on the circumstances: failure to pay over proceeds unlawful ranges from a petty offense to a class 2 felony in Colorado under C.R.S. § 18-5-505.

Failure to pay over proceeds (< $300): petty offense (C.R.S. § 18-5-505(2)(a)) · Failure to pay over proceeds ($300–$1,000): class 2 misdemeanor (C.R.S. § 18-5-505(2)(b)) · Failure to pay over proceeds ($1,000–$2,000): class 1 misdemeanor (C.R.S. § 18-5-505(2)(c)) · Failure to pay over proceeds ($2,000–$5,000): class 6 felony (C.R.S. § 18-5-505(2)(d)) · Failure to pay over proceeds ($5,000–$20,000): class 5 felony (C.R.S. § 18-5-505(2)(e)) · Failure to pay over proceeds ($20,000–$100,000): class 4 felony (C.R.S. § 18-5-505(2)(f)) · Failure to pay over proceeds ($100,000–$1,000,000): class 3 felony (C.R.S. § 18-5-505(2)(g)) · Failure to pay over proceeds (≥ $1,000,000): class 2 felony (C.R.S. § 18-5-505(2)(h))

Which Colorado statute covers failure to pay over proceeds unlawful?

Failure to pay over proceeds unlawful is governed by C.R.S. § 18-5-505 (Failure to pay over proceeds unlawful).

This reference is informational and is not legal advice.