Colorado Code
Part 5 - Performance
§ 4-2-505. Seller's Shipment Under Reservation

Source: L. 65: p. 1323, § 1. C.R.S. 1963: § 155-2-505. L. 2006: (1)(b) and (2) amended, p. 492, § 11, effective September 1.
Prior Uniform Statutory Provision: Section 20(2), (3), (4), Uniform Sales Act.
Changes: Completely rephrased, the "powers" of the parties in cases of reservation being emphasized primarily rather than the "rightfulness" of reservation.
Purposes of Changes: To continue in general the policy of the prior uniform statutory provision with certain modifications of emphasis and language, so that:

This Article does not attempt to regulate local procedure in regard to the effective maintenance of the seller's security interest when the action is in replevin by the buyer against the carrier.
It is frequently convenient for the seller to make the bill of lading to the order of a nominee such as his agent at destination, the financing agency to which he expects to negotiate the document or the bank issuing a credit to him. In many instances, also, the buyer is made the order party. This Article does not deal directly with the question as to whether a bill of lading made out by the seller to the order of a nominee gives the carrier notice of any rights which the nominee may have so as to limit its freedom or obligation to honor the bill of lading in the hands of the seller as the original shipper if the expected negotiation fails. This is dealt with in the Article on Documents of Title (Article 7).
Cross References:
Point 1: Section 4-1-201.
Point 2: Article 7.
Point 3: Sections 4-2-501(2) and 4-2-504.
Point 4: Sections 4-2-403, 4-2-507(2) and 4-2-705.
Point 5: Sections 4-2-310, 4-2-319(4), 4-2-320(4), 4-2-501 and 4-2-502 and Article 7.
Definitional Cross References:
"Bill of lading". Section 4-1-201.
"Buyer". Section 4-2-103.
"Consignee". Section 7-102.
"Contract". Section 4-1-201.
"Contract for sale". Section 4-2-106.
"Delivery". Section 4-1-201.
"Financing agency". Section 4-2-104.
"Goods". Section 4-2-105.
"Holder". Section 4-1-201.
"Person". Section 4-1-201.
"Security interest". Section 4-1-201.
"Seller". Section 4-2-103.