Colorado Code
Part 5 - Filing
§ 4-9-505. Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions

Source: L. 2001: Entire article R&RE, p. 1381, § 1, effective July 1.
Editor's note: This section is similar to former § 4-9-408 as it existed prior to 2001.




As did former Section 1-201, former Article 9 referred to transactions, including leases and consignments, "intended as security." This misleading phrase created the erroneous impression that the parties to a transaction can dictate how the law will classify it (e.g., as a bailment or as a security interest) and thus affect the rights of third parties. This Article deletes the phrase wherever it appears. Subsection (b) expresses the principle more precisely by referring to a security interest that "secures an obligation."

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