AC Excavating, Inc. v. Yale

Opinion by

Judge LICHTENSTEIN.

Plaintiff, AC Excavating, Inc., appeals the trial court's judgment in favor of defendant, Donald A. Yale, on an alleged violation of the Trust Fund Statute, section 38-22-127, C.R.S.2009, and the civil theft statute, section 18-4-401, C.R.S.2009. We reverse and remand.

I. Background

This case primarily involves interpretation of Colorado's Trust Fund Statute, section 38-22-127, Specifically, does the Trust Fund Statute limit the source or intended use of funds that must be held in trust for the payment of subcontractors?

A. Antelope Development, LLC

In the late 1990s,…