Colorado Code
Part 1 - General Provisions and Definitions
§ 4-3-103. Definitions

"Acceptance" Section 4-3-409
"Accommodated party" Section 4-3-419
"Accommodation party" Section 4-3-419
"Alteration" Section 4-3-407
"Anomalous indorsement" Section 4-3-205
"Blank indorsement" Section 4-3-205
"Cashier's check" Section 4-3-104
"Certificate of deposit" Section 4-3-104
"Certified check" Section 4-3-409
"Check" Section 4-3-104
"Consideration" Section 4-3-303
"Demand draft" Section 4-3-104
"Draft" Section 4-3-104
"Holder in due course" Section 4-3-302
"Incomplete instrument" Section 4-3-115
"Indorsement" Section 4-3-204
"Indorser" Section 4-3-204
"Instrument" Section 4-3-104
"Issue" Section 4-3-105
"Issuer" Section 4-3-105
"Negotiable instrument" Section 4-3-104
"Negotiation" Section 4-3-201
"Note" Section 4-3-104
"Payable at a definite time" Section 4-3-108
"Payable on demand" Section 4-3-108
"Payable to bearer" Section 4-3-109
"Payable to order" Section 4-3-109
"Payment" Section 4-3-602
"Person entitled to enforce" Section 4-3-301
"Presentment" Section 4-3-501
"Reacquisition" Section 4-3-207
"Special indorsement" Section 4-3-205
"Teller's check" Section 4-3-104
"Transfer of instrument" Section 4-3-203
"Traveler's check" Section 4-3-104
"Value" Section 4-3-303

"Bank" Section 4-4-105
"Banking day" Section 4-4-104
"Clearing house" Section 4-4-104
"Collecting bank" Section 4-4-105
"Depositary bank" Section 4-4-105
"Documentary draft" Section 4-4-104
"Intermediary bank" Section 4-4-105
"Item" Section 4-4-104
"Payor bank" Section 4-4-105
"Suspends payments" Section 4-4-104

Source: L. 94: Entire article R&RE, p. 840, § 1, effective January 1, 1995. L. 2001: (b) amended, p. 865, § 2, effective August 8. L. 2006: (a)(10) amended, p. 496, § 25, effective September 1.
Editor's note: This section is similar to former § 4-3-102 as it existed prior to 1994.
Cross references: For the legislative declaration contained in the 2001 act amending subsection (b), see section 1 of chapter 244, Session Laws of Colorado 2001.

An order may be addressed to more than one person as drawee either jointly or in the alternative. The authorization of alternative drawees follows former Section 3-102(1)(b) and recognizes the practice of drawers, such as corporations issuing dividend checks, who for commercial convenience name a number of drawees, usually in different parts of the country. Section 3-501(b)(1) provides that presentment may be made to any one of multiple drawees. Drawees in succession are not permitted because the holder should not be required to make more than one presentment. Dishonor by any drawee named in the draft entitles the holder to rights of recourse against the drawer or indorsers.