Colorado Code
Part 1 - General Provisions and Definitions
§ 4-4-104. Definitions and Index of Definitions

"Agreement for electronic presentment" Section 4-4-110
"Bank" Section 4-4-105
"Collecting bank" Section 4-4-105
"Depositary bank" Section 4-4-105
"Intermediary bank" Section 4-4-105
"Payor bank" Section 4-4-105
"Presenting bank" Section 4-4-105
"Presentment notice" Section 4-4-110

"Acceptance" Section 4-3-409
"Alteration" Section 4-3-407
"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
"Good faith" Section 4-3-103
"Holder in due course" Section 4-3-302
"Instrument" Section 4-3-104
"Notice of dishonor" Section 4-3-503
"Order" Section 4-3-103
"Ordinary care" Section 4-3-103
"Person entitled to enforce" Section 4-3-301
"Presentment" Section 4-3-501
"Promise" Section 4-3-103
"Prove" Section 4-3-103
"Teller's check" Section 4-3-104
"Unauthorized signature" Section 4-3-403

Source: L. 94: Entire article amended with relocations, p. 880, § 2, effective January 1, 1995. L. 96: (a)(6) amended, p. 234, § 6, effective July 1. L. 2006: (c) amended, p. 496, § 26, effective September 1. L. 2007: (c) amended, p. 375, § 28, effective August 3.
Editor's note - Colorado legislative change. In subsection (a)(3), Colorado added the words "excluding Saturday, Sunday, and holidays".
Cross references: For the conduct of banking business on Saturday, see § 11-105-103; for legal holidays, see § 24-11-101.

The term "settle" is used as a convenient term to characterize a broad variety of conditional, provisional, tentative and also final payments of items. Such a comprehensive term is needed because it is frequently difficult or unnecessary to determine whether a particular action is tentative or final or when a particular credit shifts from the tentative class to the final class. Therefore, its use throughout the Article indicates that in that particular context it is unnecessary or unwise to determine whether the debit or the credit or the payment is tentative or final. However, if qualified by the adjective "provisional" its tentative nature is intended, and if qualified by the adjective "final" its permanent nature is intended.
Examples of the various types of settlement contemplated by the term include payments in cash; the efficient but somewhat complicated process of payment through the adjustment and offsetting of balances through clearing houses; debit or credit entries in accounts between banks; the forwarding of various types of remittance instruments, sometimes to cover a particular item but more frequently to cover an entire group of items received on a particular day.