LEG00267

• Bill Number: SB05-246
• Year: 2005
• Title: Concerning environmental covenants, and, in connection therewith, establishing conformity with the "Uniform Environmental Covenants Act" with respect to the role of holders of enforcement rights, the
• Legislation - Doc Type: Other CWCB Related Bills - Killed

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RECORD THE RIGHT TO CONSENT TO AMENDMENTS.
(4) EXCEPT FOR AN ASSIGNMENT UNDERTAKEN PURSUANT TO A
GOVERNMENTAL REORGANIZATION, ASSIGNMENT OF AN ENVIRONMENTAL
COVENANT TO A NEW HOLDER IS A MODIFICATION.
(5) EXCEPT AS OTHERWISE PROVIDED IN AN ENVIRONMENTAL
COVENANT:
(a) A HOLDER MAY NOT ASSIGN ITS INTEREST WITHOUT CONSENT
OF THE OTHER PARTIES;
(b) A HOLDER MAY BE REMOVED AND REPLACED BY AGREEMENT
OF THE OTHER PARTIES SPECIFIED IN PARAGRAPH ( a) OF THIS SUBSECTION
(5); AND
(c) A COURT OF COMPETENT JURISDICTION MAY FILL A VACANCY
IN THE POSITION OF HOLDER,
25-15-328. Uniformity of application and construction. IN
APPLYING AND CONSTRUING THIS SUBPART 2, CONSIDERATION SHALL BE
GIVEN TO THE NEED TO PROMOTE UNIFORMITY OF THE LAW WITH RESPECT
TO ITS SUBJECT MATTER AMONG STATES THAT ENACT THE UNIFORM ACT
UPON WHICH IT IS BASED.
SECTION 3. 25-15-318, Colorado Revised Statutes, is amended
to read:
25-15-318. Nature of environmental covenants. (I) (a) An.
environmental covenant shall be perpetual unless by its terms it is:
(I) Limited to a specific duration nnkss the def1/'ut..uent apPIO,CS
aleqtlest to tc,llnlnate- 01 modify it pmsull:llt to se-aion 25-15-319 (I) (h),
vI unless It is tc,rroinated hy ll: e-owl of c,onlpc,t<-nt jmisdiGtior., AI.
en,UOll1hC,ltal e-O~(,j]ant maY not be cAtMga13hed, limited, OJ impaiIed
tluough issaance- vfa tax deed 01 tlnough adverse posscssion, hOI may an

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SB05-246