Colorado Code § 38-10-114

No delivery or change of possession - effect. Except as otherwise provided
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in section 4-2-402 or 4-2.5-308, C.R.S., or except where evidence of the transaction is included
in the central registry maintained with respect to transactions relating to title to such goods and
chattels, or is duly noted on the certificate of title to such goods and chattels by the authority
issuing such certificate, or is included in the records of the proper filing office for a security
interest in such goods and chattels under section 4-9-501, C.R.S., or is a transaction described in
section 4-9-309 or 4-9-310, C.R.S., every sale made by a vendor of goods and chattels in his or
her possession or under his or her control and every assignment of goods and chattels, unless
each shall be accompanied by an immediate delivery and followed by an actual and continued
change of possession of things sold or assigned, shall be presumed to be fraudulent and void as
against the creditors of the vendor, or the creditors of the person making such assignment, or
subsequent purchasers in good faith, unless the party opposed to the effect of the presumption
shall establish that it is more probable than not that such sale or assignment was made by the
seller or assignor in good faith and without any actual intent to hinder, delay, or defraud
creditors or subsequent purchasers.

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