8 Colo. Code Regs. § 1205-5, pt. 4.00
Current through Register Vol. 47, No. 24, December 25, 2024
Part 4.00 - Sale proceduresA. As to any brand advertised for sale as abandoned based upon assessments prior to the 1997 assessment, the last legal owner or the owner's heirs have the first right of refusal upon payment of all back assessments and fees. In order to exercise this right, the last legal owner or the owner's heirs must reinstate the abandoned brand and pay all applicable fees at least seven (7) days prior to the advertised sale date.B. Any abandoned brand sold by the Board may be sold by public auction, sealed bid or at a flat-rate minimum, at the discretion of the Board.C. The minimum bid for any abandoned brand offered for sale by the Board shall not be less than the current assessment fee and the recording fee authorized by the Board. The Board may also impose a research and sales fee to be added to the minimum bid.D. Any person purchasing an abandoned brand offered for sale by the Board shall provide payment in full at the time of purchase.E. If a check offered as payment of an abandoned brand is not honored upon presentation to the issuing bank for full payment, the brand purchased shall be forfeited and the brand shall be sold at the next published sale.F. All costs associated with the sale of an abandoned brand shall paid to the Board from the net proceeds of the sale, as required by § 35-43-115.5(4), HB 98-1101.