Source: L. 94: Entire article amended with relocations, p. 887, § 2, effective January 1, 1995. L. 2001: (a) amended and (f) added, p. 868, § 6, effective August 8.
Cross references: For the legislative declaration contained in the 2001 act amending subsection (a) and enacting subsection (f), see section 1 of chapter 244, Session Laws of Colorado 2001.
Except for subsection (b), this section conforms to Section 3-416 and extends its coverage to items. The substance of this section is discussed in the Comment to Section 3-416. Subsection (b) provides that customers or collecting banks that transfer items, whether by indorsement or not, undertake to pay the item if the item is dishonored. This obligation cannot be disclaimed by a "without recourse" indorsement or otherwise. With respect to checks, Regulation CC Section 229.34 states the warranties made by paying and returning banks.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 4 - Bank Deposits and Collections
Part 2 - Collection of Items - Depositary and Collecting Banks
§ 4-4-202. Responsibility for Collection or Return - When Action Timely
§ 4-4-203. Effect of Instructions
§ 4-4-204. Methods of Sending and Presenting - Sending Directly to Payor Bank
§ 4-4-205. Depositary Bank Holder of Unindorsed Item
§ 4-4-206. Transfer Between Banks
§ 4-4-207. Transfer Warranties
§ 4-4-208. Presentment Warranties
§ 4-4-209. Encoding and Retention Warranties
§ 4-4-210. Security Interest of Collecting Bank in Items, Accompanying Documents, and Proceeds
§ 4-4-211. When Bank Gives Value for Purposes of Holder in Due Course
§ 4-4-213. Medium and Time of Settlement by Bank
§ 4-4-214. Right of Charge-Back or Refund - Liability of Collecting Bank - Return of Item