(1) Livestock shall be presumed abandoned if:
(a) The owner or owner's agent has failed to contact the lienor within ten days after service of notice under section 38-20-206;
(b) The lienor, in good faith, has no reasonable grounds to believe that the owner does not intend to abandon the livestock; and
(c) The agistor has sent written notice of abandonment pursuant to the publication procedures in this article.
(2) The board shall care for and dispose of any abandoned livestock pursuant to section 35-44-112, C.R.S.
(3) After paying all expenses incurred, the board shall pay the agistor for the cost of herding or caring for such livestock, not to exceed the fair market value of the actual cost of such herding or caring or five hundred dollars per head, whichever is less.
(4) (a) Any surplus funds forwarded to the state board of stock inspection commissioners shall be deposited in the estray fund of said board in the manner described in section 38-20-206.
(b) If the owner of livestock presumed to be abandoned is found within three years after the date of the sale of such livestock, the net amount received from the sale shall be paid to the owner, less the following amounts, upon said owner proving ownership to the satisfaction of the board:
(I) A sum determined by the board by rule for each abandoned animal, to be retained by the state board of stock inspection commissioners;
(II) The amount of any judgment awarded the lienor; and
(III) Any amounts owed to a secured party that has filed a lien against the livestock presumed to be abandoned and submitted a claim to the board.
(c) A current livestock inspection certificate shall be prima facie evidence of ownership.
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