C.R.S. Section 4-4-104
Definitions and index of definitions


In this article, unless the context otherwise requires:


“Account” means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;


“Afternoon” means the period of a day between noon and midnight;


“Banking day” means the part of a day, excluding Saturday, Sunday, and holidays, on which a bank is open to the public for carrying on substantially all of its banking functions;


“Clearing-house” means an association of banks or other payors regularly clearing items;


“Customer” means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank;


“Documentary draft” means a draft to be presented for acceptance or payment if specified documents, certificated securities (section 4-8-102) or instruction for uncertificated securities (section 4-8-102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;


“Draft” means a draft as defined in section 4-3-104 or an item, other than an instrument, that is an order;


“Drawee” means a person ordered in a draft to make payment;


“Item” means an instrument or a promise or order to pay money handled by a bank for collection or payment. The term does not include a payment order governed by article 4.5 of this title or a credit or debit card slip;


“Midnight deadline” with respect to a bank is midnight on its next banking day following the banking day on which it receives the relevant item or notice or from which the time for taking action commences to run, whichever is later;


“Settle” means to pay in cash, by clearing-house settlement, in a charge or credit, or by remittance, or otherwise as agreed. A settlement may be either provisional or final;


“Suspends payments” with respect to a bank means that it has been closed by order of the supervisory authorities, that a public officer has been appointed to take it over or that it ceases or refuses to make payments in the ordinary course of business.


Other definitions applying to this article and the sections in which they appear are:
“Agreement for electronic presentment”
Section 4-4-110
Section 4-4-105
“Collecting bank”
Section 4-4-105
“Depositary bank”
Section 4-4-105
“Intermediary bank”
Section 4-4-105
“Payor bank”
Section 4-4-105
“Presenting bank”
Section 4-4-105
“Presentment notice”
Section 4-4-110


“Control” as provided in section 4-7-106 and the following definitions in other articles of this title apply to this article:
Section 4-3-409
Section 4-3-407
“Cashier’s check”
Section 4-3-104
“Certificate of deposit”
Section 4-3-104
“Certified check”
Section 4-3-409
Section 4-3-104
“Good faith”
Section 4-3-103
“Holder in due course”
Section 4-3-302
Section 4-3-104
“Notice of dishonor”
Section 4-3-503
Section 4-3-103
“Ordinary care”
Section 4-3-103
“Person entitled to enforce”
Section 4-3-301
Section 4-3-501
Section 4-3-103
Section 4-3-103
“Teller’s check”
Section 4-3-104
“Unauthorized signature”
Section 4-3-403


In addition, article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.

Source: Section 4-4-104 — Definitions and index of definitions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-04.­pdf (accessed Oct. 20, 2023).

Short title
Variation by agreement - measure of damages - action constituting ordinary care
Definitions and index of definitions
“Bank” - “depositary bank” - “intermediary bank” - “collecting bank” - “payor bank” - “presenting bank”
Payable through or payable at bank - collecting bank
Separate office of bank
Time of receipt of items
Electronic presentment
Statute of limitations
Status of collecting banks as agent and provisional status of credits - applicability of article - item indorsed “pay any bank”
Responsibility for collection or return - when action timely
Effect of instructions
Methods of sending and presenting - sending directly to payor bank
Depositary bank holder of unindorsed item
Transfer between banks
Transfer warranties
Presentment warranties
Encoding and retention warranties
Security interest of collecting bank in items, accompanying documents, and proceeds
When bank gives value for purposes of holder in due course
Presentment by notice of item not payable by, through, or at a bank - liability of drawer or indorser
Medium and time of settlement by bank
Right of charge-back or refund - liability of collecting bank - return of item
Final payment of item by payor bank - when provisional debits and credits become final - when certain credits become available for withdrawal
Insolvency and preference
Deferred posting - recovery of payment by return of items - time of dishonor - return of items by payor bank
Payor bank’s responsibility for late return of item
When items subject to notice, stop-payment order, legal process, or setoff - order in which items may be charged or certified
When bank may charge customer’s account
Bank’s liability to customer for wrongful dishonor - time of determining insufficiency of account
Customer’s right to stop payment - burden of proof of loss
Bank not obligated to pay check more than six months old
Death or incompetence of customer
Customer’s duty to discover and report unauthorized signature or alteration
Payor bank’s right to subrogation on improper payment
Handling of documentary drafts - duty to send for presentment and to notify customer of dishonor
Presentment of “on arrival” drafts
Responsibility of presenting bank for documents and goods - report of reason for dishonor - referee in case of need
Privilege of presenting bank to deal with goods - security interest for expenses
Green check means up to date. Up to date

Current through Fall 2024

§ 4-4-104’s source at colorado​.gov