C.R.S. Section 4-3-304
Overdue instrument

(a)

An instrument payable on demand becomes overdue at the earliest of the following times:

(1)

On the day after the day demand for payment is duly made;

(2)

If the instrument is a check, 90 days after its date; or

(3)

If the instrument is not a check, when the instrument has been outstanding for a period of time after its date which is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and usage of the trade.

(b)

With respect to an instrument payable at a definite time the following rules apply:

(1)

If the principal is payable in installments and a due date has not been accelerated, the instrument becomes overdue upon default under the instrument for nonpayment of an installment, and the instrument remains overdue until the default is cured.

(2)

If the principal is not payable in installments and the due date has not been accelerated, the instrument becomes overdue on the day after the due date.

(3)

If a due date with respect to principal has been accelerated, the instrument becomes overdue on the day after the accelerated due date.

(c)

Unless the due date of principal has been accelerated, an instrument does not become overdue if there is default in payment of interest but no default in payment of principal.

Source: Section 4-3-304 — Overdue instrument, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-04.­pdf (accessed Oct. 20, 2023).

4‑3‑101
Short title 4‑3‑102
Subject matter 4‑3‑103
Definitions 4‑3‑104
Negotiable instrument 4‑3‑105
Issue of instrument 4‑3‑106
Unconditional promise or order 4‑3‑107
Instrument payable in foreign money 4‑3‑108
Payable on demand or at definite time 4‑3‑109
Payable to bearer or to order 4‑3‑110
Identification of person to whom instrument is payable 4‑3‑111
Place of payment 4‑3‑112
Interest 4‑3‑113
Date of instrument 4‑3‑114
Contradictory terms of instrument 4‑3‑115
Incomplete instrument 4‑3‑116
Joint and several liability 4‑3‑117
Other agreements affecting instrument 4‑3‑118
Statute of limitations 4‑3‑119
Notice of right to defend action 4‑3‑201
Negotiation 4‑3‑202
Negotiation subject to rescission 4‑3‑203
Transfer of instrument 4‑3‑204
Indorsement 4‑3‑205
Special indorsement 4‑3‑206
Restrictive indorsement 4‑3‑207
Reacquisition 4‑3‑301
Person entitled to enforce instrument 4‑3‑302
Holder in due course 4‑3‑303
Value and consideration 4‑3‑304
Overdue instrument 4‑3‑305
Defenses and claims in recoupment 4‑3‑306
Claims to an instrument 4‑3‑307
Notice of breach of fiduciary duty 4‑3‑308
Proof of signatures and status as holder in due course 4‑3‑309
Enforcement of lost, destroyed, or stolen instrument 4‑3‑310
Effect of instrument on obligation for which taken 4‑3‑311
Accord and satisfaction by use of instrument 4‑3‑312
Lost, destroyed, or stolen cashier’s check, teller’s check, or certified check 4‑3‑401
Signature necessary for liability on instrument 4‑3‑402
Signature by representative 4‑3‑403
Unauthorized signature 4‑3‑404
Impostors 4‑3‑405
Employer’s responsibility for fraudulent indorsement by employee 4‑3‑406
Negligence contributing to forged signature or alteration of instrument 4‑3‑407
Alteration 4‑3‑408
Drawee not liable on unaccepted draft 4‑3‑409
Acceptance of draft 4‑3‑410
Acceptance of varying draft 4‑3‑411
Refusal to pay cashier’s checks, teller’s checks, and certified checks 4‑3‑412
Obligation of issuer of note or cashier’s check 4‑3‑413
Obligation of acceptor 4‑3‑414
Obligation of drawer 4‑3‑415
Obligation of indorser 4‑3‑416
Transfer warranties 4‑3‑417
Presentment warranties 4‑3‑418
Payment or acceptance by mistake 4‑3‑419
Instruments signed for accommodation 4‑3‑420
Conversion of instrument 4‑3‑501
Presentment 4‑3‑502
Dishonor 4‑3‑503
Notice of dishonor 4‑3‑504
Excused presentment and notice of dishonor 4‑3‑505
Evidence of dishonor 4‑3‑506
Recording credit card or social security numbers prohibited 4‑3‑601
Discharge and effect of discharge 4‑3‑602
Payment 4‑3‑603
Tender of payment 4‑3‑604
Discharge by cancellation or renunciation 4‑3‑605
Discharge of indorsers and accommodation parties
Green check means up to date. Up to date

Current through Fall 2024

§ 4-3-304’s source at colorado​.gov