Below is a section of the Colorado State Statutes that we believe apply to recording phone conversations. This information is not intended as a substitute for legal counsel.
From the Colorado State Code
Colo. Rev. Stat. § 18-9-303: Recording or overhearing a telephone conversation, or any electronic communication, without the consent of a party to the conversation is a felony punishable by a fine of between $1,000 and $100,000 and one year to 18 months in jail. Recording of a communication from a cordless telephone, however, is a misdemeanor. Colo. Rev. Stat. § 18-1.3-401.
Using or disclosing information obtained through illegal wiretapping is prohibited if there is reason to know the information was obtained illegally. Anyone who is not "visibly present" during a conversation who overhears or records the conversation without the consent of at least one of the parties commits a felony carrying the same punishment as a telephone interception, as does anyone who discloses the contents of such a conversation. Colo. Rev. Stat § 18-9-304.
However, nothing in these statutes "shall be interpreted to prevent a news agency, or an employee thereof, from using the accepted tools and equipment of that news medium in the course of reporting or investigating a public and newsworthy event." Colo. Rev. Stat. § 18-9-305.
It is always best to talk with an attorney if you have questions about the legal implications of recording calls in your state. We hope this information will serve as a general guide, and is not intended to substitute for expert legal counsel.