Liability for false statement in certificate

7-61-107. Liability for false statement in certificate. (1) If the certificate contains a false statement, one who suffers loss by reliance on such statement may hold liable any party to the certificate who knew the statement to be false: (a) At the time such party signed the certificate; or (b) Subsequently but within a sufficient time before the statement was relied upon to enable such party to cancel or amend the certificate or to file a petition for its cancellation or amendment as provided in section 7-61-126 (3). Source: L. 31: p. 629, � 6. CSA: C. 123, � 49. CRS 53: � 104-2-6. C.R.S. 1963: � 104-2-6. L. 2004: Entire section amended, p. 1436, � 111, effective July 1.