Colorado Code
Part 5 - Collection of Documentary Drafts
§ 4-4-503. Responsibility of Presenting Bank for Documents and Goods - Report of Reason for Dishonor - Referee in Case of Need

Unless otherwise instructed and except as provided in article 5 of this title, a bank presenting a documentary draft:

However the presenting bank is under no obligation with respect to goods represented by the documents except to follow any reasonable instructions seasonably received; it has a right to reimbursement for any expense incurred in following instructions and to prepayment of or indemnity for those expenses.

Source: L. 94: Entire article amended with relocations, p. 903, § 2, effective January 1, 1995.

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Structure Colorado Code

Colorado Code

Title 4 - Uniform Commercial Code

Article 4 - Bank Deposits and Collections

Part 5 - Collection of Documentary Drafts

§ 4-4-501. Handling of Documentary Drafts - Duty to Send for Presentment and to Notify Customer of Dishonor

§ 4-4-502. Presentment of "On Arrival" Drafts

§ 4-4-503. Responsibility of Presenting Bank for Documents and Goods - Report of Reason for Dishonor - Referee in Case of Need

§ 4-4-504. Privilege of Presenting Bank to Deal With Goods - Security Interest for Expenses