CO HB1213

Enacts the "Uniform Asset-freezing Orders Act" creating a uniform process for Colorado courts to issue orders freezing a defendant's assets and restraining nonparties to preserve assets before judgment.

Requires a party seeking an asset-freezing order to prove there is a substantial likelihood the defendant's assets will be dissipated and the party will be unable to collect a judgment, and that harm to the defendant is outweighed by risk to the moving party.

Allows courts to issue orders with notice and expedited hearing, or without notice if supported by affidavit or verified pleading, with orders issued without notice expiring within 14 days unless extended or consented to.

Obligates nonparties served with an asset-freezing order to freeze the defendant's assets and prohibits knowingly assisting in violations, with exceptions for good faith beliefs that compliance would violate foreign law.

Permits Colorado courts to recognize and enforce asset-freezing orders from other states and foreign courts unless recognition violates public policy or procedural requirements were not substantially similar to Colorado's standards; takes effect September 1, 2013.