Title

The operator of each public livestock market in the state shall warrant to the purchaser of such a public livestock market the title of all livestock sold through the operator's public livestock market and is liable to the rightful owner of the public livestock market for the net proceeds in cash received for such livestock so sold. If such an operator is notified by the authorized brand inspector that there is a question as to whether any designated livestock sold through the public livestock market is lawfully owned by the consignor of the public livestock market, the operator shall hold the proceeds received from the sale of the livestock for a reasonable time, not to exceed thirty days, to permit the consignor to establish ownership. If, at the expiration of that time, the consignor fails to establish the consignor's lawful ownership of the livestock, the operator shall release the proceeds to the state board of stock inspection commissioners, which board may dispose of the proceeds in accordance with Colorado's estray laws relating to the distribution of estray money, and the board's receipt of the proceeds relieves the operator from further responsibility for the proceeds. The authorized brand inspector shall transmit to the state board of stock inspection commissioners proof of ownership and an account of all sales of livestock.