(1) Unless an estate is insolvent, or would thereby be rendered insolvent, the personal representative, with the consent of all successors whose interests would be affected, may waive any defense of limitations available to the estate. If the defense is not waived, no claim which was barred by any statute of limitations at the time of the decedent's death shall be allowed or paid.
The running of any statute of limitations measured from some event other than deathor the giving of notice to creditors for claims against a decedent is suspended during the four months following the decedent's death but resumes thereafter as to claims not barred pursuant to the provisions of this part 8.
For purposes of any statute of limitations other than those time periods specified insections 15-12-801, 15-12-803, 15-12-804, and 15-12-806, the proper presentation of a claim under section 15-12-804 is equivalent to commencement of a proceeding on the claim.
Source: L. 73: R&RE, p. 1592, § 1. C.R.S. 1963: § 153-3-802. L. 75: Entire section amended, p. 598, § 33, effective July 1. L. 90: Entire section amended, p. 905, § 2, effective July 1.