If a payor bank has paid an item over the order of the drawer or maker to stop payment, or after an account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payor bank is subrogated to the rights:
Source: L. 94: Entire article amended with relocations, p. 903, § 2, effective January 1, 1995.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 4 - Bank Deposits and Collections
Part 4 - Relationship Between Payor Bank and Its Customer
§ 4-4-401. When Bank May Charge Customer's Account
§ 4-4-403. Customer's Right to Stop Payment - Burden of Proof of Loss
§ 4-4-404. Bank Not Obligated to Pay Check More Than Six Months Old
§ 4-4-405. Death or Incompetence of Customer
§ 4-4-406. Customer's Duty to Discover and Report Unauthorized Signature or Alteration
§ 4-4-407. Payor Bank's Right to Subrogation on Improper Payment