Colorado statute

C.R.S. § 18-5-502 — Failure to pay over assigned accounts.

Current through 2025 Regular Session

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

Criminal charges under this statute

Failure to pay over assigned accounts

Full text of C.R.S. § 18-5-502

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. § 18-5-502Primary source, current through the 2025 Regular Session

(1) When, under the terms of an assignment of an account, as defined in section 4-9-102 (a)(2), the assignor, being permitted to collect the proceeds from the debtor, is to pay over to the assignee any of the proceeds and, after collection thereof, the assignor willfully and wrongfully fails to pay over to the assignee the proceeds, the person commits failure to pay over assigned accounts. (2) Failure to pay over assigned accounts 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 assigned accounts a felony or a misdemeanor in Colorado?

It depends on the circumstances: failure to pay over assigned accounts ranges from a petty offense to a class 2 felony in Colorado under C.R.S. § 18-5-502.

Failure to pay over assigned accounts (<$300): petty offense (C.R.S. § 18-5-502(2)(a)) · Failure to pay over assigned accounts ($300–$1,000): class 2 misdemeanor (C.R.S. § 18-5-502(2)(b)) · Failure to pay over assigned accounts ($1,000–$2,000): class 1 misdemeanor (C.R.S. § 18-5-502(2)(c)) · Failure to pay over assigned accounts ($2,000–$5,000): class 6 felony (C.R.S. § 18-5-502(2)(d)) · Failure to pay over assigned accounts ($5,000–$20,000): class 5 felony (C.R.S. § 18-5-502(2)(e)) · Failure to pay over assigned accounts ($20,000–$100,000): class 4 felony (C.R.S. § 18-5-502(2)(f)) · Failure to pay over assigned accounts ($100,000–$1,000,000): class 3 felony (C.R.S. § 18-5-502(2)(g)) · Failure to pay over assigned accounts (≥$1,000,000): class 2 felony (C.R.S. § 18-5-502(2)(h))

Which Colorado statute covers failure to pay over assigned accounts?

Failure to pay over assigned accounts is governed by C.R.S. § 18-5-502 (Failure to pay over assigned accounts).

This reference is informational and is not legal advice.