As used in this article 8, unless the context otherwise requires:

1. (1) Affiliate means:

   1. (a) A person that directly or indirectly owns, controls, or holds with power to vote twenty percent or more of the outstanding voting securities of the debtor, other than a person that holds the securities:

      1. (I) As a fiduciary or agent without sole discretionary power to vote the securities; or
      2. (II) Solely to secure a debt, if the person has not in fact exercised the power to vote;

   2. (b) A corporation, twenty percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person that directly or indirectly owns, controls, or holds with power to vote, twenty percent or more of the outstanding voting securities of the debtor, other than a person that holds the securities:

      1. (I) As a fiduciary or agent without sole discretionary power to vote the securities; or
      2. (II) Solely to secure a debt, if the person has not in fact exercised the power to vote;
   3. (c) A person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or
   4. (d) A person that operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets.

2. (2) Asset means property of a debtor. Asset shall not include:

   1. (a) Property to the extent it is encumbered by a valid lien;
   2. (b) Property to the extent it is generally exempt immediately prior to the time of transfer under nonbankruptcy law; or
   3. (c) An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
3. (3) Claim, except as the term is used in claim for relief, means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured.
4. (4) Control of a debtor or debtor's property by another person does not include conduct undertaken by the other person to enforce rights existing under a valid agreement, entered into in good faith and not primarily for the purpose of obtaining control of the debtor or the debtor's property, including without limitation a lease of such property.
5. (5) Creditor means a person who has a claim.
6. (6) Debt means liability on a claim.
7. (7) Debtor means a person who is liable on a claim.
8. (7.5) Electronic means technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
9. (7.7) Entity has the same meaning as set forth in section 7-90-102 (20).

10. (8) Insider includes:

    1. (a) If the debtor is an individual:

       1. (I) A relative of the debtor or of a general partner of the debtor;
       2. (II) A partnership in which the debtor is a general partner;
       3. (III) A general partner in a partnership described in subparagraph (II) of this paragraph (a); or
       4. (IV) A corporation of which the debtor is a director, officer, or person in control;

    2. (b) If the debtor is a corporation:

       1. (I) A director of the debtor;
       2. (II) An officer of the debtor;
       3. (III) A person in control of the debtor;
       4. (IV) A partnership in which the debtor is a general partner;
       5. (V) A general partner in a partnership described in subparagraph (IV) of this paragraph (b); or
       6. (VI) A relative of a general partner, director, officer, or person in control of the debtor;

    3. (c) If the debtor is a partnership:

       1. (I) A general partner in the debtor;
       2. (II) A relative of a general partner in, or a general partner of, or a person in control of the debtor;
       3. (III) Another partnership in which the debtor is a general partner;
       4. (IV) A general partner in a partnership described in subparagraph (III) of this paragraph (c); or
       5. (V) A person in control of the debtor;
    4. (d) An affiliate, or an insider of an affiliate as if the affiliate were the debtor; or
    5. (e) A managing agent of the debtor.
11. (9) Lien means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien.
12. (10) Person has the meaning set forth in section 7-90-102 (49).
13. (11) Property means anything that may be the subject of ownership.
14. (11.5) Record means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
15. (12) Relative means an individual related by consanguinity within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, and includes an individual in an adoptive relationship within the third degree.
16. (12.5) Sign or signature has the meaning set forth in section 7-90-102 (60.5).
17. (13) Transfer means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance.
18. (14) Valid lien means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings.

Source: L. 91: Entire article added, p. 1681, § 1, effective July 1. L. 2025: IP, IP(1)(a), (1)(a)(II), IP(1)(b), (1)(b)(I), (1)(d), (3), IP(8), and (10) amended and (7.5), (7.7), (11.5), and (12.5) added, (SB 25-133), ch. 57, p. 237, § 2, effective August 6.

Editor's note: (1) Colorado legislative change: This section was numbered as section 1 in the uniform act. In the introductory portion to this section, after the word article, Colorado added a comma and the words unless the context otherwise requires. In the introductory portion to subsection (2), Colorado replaced a comma with a period and changed the words but the term does not include to 'Asset' shall not include. In subsection (2)(b), after exempt, Colorado added immediately prior to the time of transfer. The definition of control in subsection (4) has been added and subsequent definitions renumbered accordingly. In subsection (8), the word means has been substituted for includes.

(2) Section 12 of chapter 57 (SB 25-133), Session Laws of Colorado 2025, provides that the act changing this section applies to claims filed on or after August 6, 2025.