Source: L. 94: Entire article R&RE, p. 867, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 4-3-413 as it existed prior to 1994.
Subsection (a) is consistent with former Section 3-413(1). Subsection (b) has primary importance with respect to certified checks. It protects the holder in due course of a certified check that was altered after certification and before negotiation to the holder in due course. A bank can avoid liability for the altered amount by stating on the check the amount the bank agrees to pay. The subsection applies to other accepted drafts as well.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 3 - Negotiable Instruments
§ 4-3-402. Signature by Representative
§ 4-3-403. Unauthorized Signature
§ 4-3-404. Impostors; Fictitious Payees
§ 4-3-405. Employer's Responsibility for Fraudulent Indorsement by Employee
§ 4-3-406. Negligence Contributing to Forged Signature or Alteration of Instrument
§ 4-3-408. Drawee Not Liable on Unaccepted Draft
§ 4-3-409. Acceptance of Draft; Certified Check
§ 4-3-410. Acceptance of Varying Draft
§ 4-3-411. Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks
§ 4-3-412. Obligation of Issuer of Note or Cashier's Check
§ 4-3-413. Obligation of Acceptor
§ 4-3-414. Obligation of Drawer
§ 4-3-415. Obligation of Indorser
§ 4-3-416. Transfer Warranties
§ 4-3-417. Presentment Warranties
§ 4-3-418. Payment or Acceptance by Mistake