(1) Is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary;
(2) Imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary; and
Source: L. 2001: Entire article R&RE, p. 1377, § 1, effective July 1.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 9 - Secured Transactions
Part 4 - Rights of Third Parties
§ 4-9-401. Alienability of Debtor's Rights
§ 4-9-402. Secured Party Not Obligated on Contract of Debtor or in Tort
§ 4-9-403. Agreement Not to Assert Defenses Against Assignee
§ 4-9-404. Rights Acquired by Assignee; Claims and Defenses Against Assignee
§ 4-9-405. Modification of Assigned Contract
§ 4-9-409. Restrictions on Assignment of Letter-of-Credit Rights Ineffective