HomeMy WebLinkAbout2021-01Repealing and Reenacting Vail Town Code Procedures for Disposing of Unclaimed Property in the Town of Vail12/28/2020
S:\TOWN COUNCIL AGENDA ITEMS\2021\010521\UNCLAIMED PROPERTY-O122320.DOCX
ORDINANCE NO. 1
SERIES 2021
AN ORDINANCE REPEALING AND REENACTING CHAPTER 2 OF
TITLE 6 OF THE VAIL TOWN CODE REGARDING PROCEDURES FOR
DISPOSING OF UNCLAIMED PROPERTY IN THE TOWN
NOW BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO, THAT:
Section 1. Chapter 2 of Title 6 of the Vail Town Code is hereby repealed in its
entirety and reenacted as follows:
6-2-1: DEFINITIONS:
For purposes of this Chapter, the following terms shall have the following
meanings:
ABANDONED INTANGIBLE PROPERTY: Any fixed and certain interest in
intangible property held, issued, or owned in the ordinary course of the
Town's business, including without limitation cash, checks, drafts, deposits,
interest, dividends, income, credit balances, customer overpayments, gift
cards, refunds, unpaid wages or pension benefits, reimbursements, stocks,
unpaid wages, and interest or income derived therefrom that is held by or
under the control of the Town that has not been claimed by its owner for a
period of more than one (1) year after the property became distributable.
OWNER: A person that owns unclaimed property held by the Town or their
duly authorized legal representative or successor in interest.
UNCLAIMED PROPERTY: Any tangible or intangible property, except
abandoned intangible property, that is held by or under the control of the
Town that has not been claimed by its owner for a period of more than one
hundred and eighty (180) days after the Town took possession of the
property.
6-2-2: PROCEDURES:
A. Personal Notice: Prior to disposition of any unclaimed property
having an estimated value of one thousand dollars ($1,000) or more or any
abandoned intangible property regardless of value, the Police Department
shall give written notice by certified mail, return receipt requested, to the last
known address of a known owner of the unclaimed property or the
abandoned intangible property. The notice shall include a description of the
property, the estimated value of the property, and the location where the
owner may pick up the property. The notice shall also state that if the owner
fails to provide the Police Department with a written claim for the return of
any unclaimed property within thirty (30) days of the date of the notice for
19th
January
4
12/28/2020
S:\TOWN COUNCIL AGENDA ITEMS\2021\010521\UNCLAIMED PROPERTY-O122320.DOCX
READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED
this 19th day of January, 2021.
_____________________________
Dave Chapin, Mayor
ATTEST:
____________________________
Tammy Nagel, Town Clerk