Title 4, Uniform Commercial Code
0 chapters · 527 sections in this title.
Colo. Rev. Stat. § 4-9-326.5 Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible
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A security interest in a controllable account, controllable electronic record, or controllable payment intangible held by a secured party having control of the account, electronic record, or payment intangible has priority over a conflicting security interest held by a secured pa…
Colo. Rev. Stat. § 4-9-327 Priority of security interests in deposit account
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The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having control of the deposit account under section 4-9-104 has priority over a conflicting security interest held by a secured pa…
Colo. Rev. Stat. § 4-9-328 Priority of security interests in investment property
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The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest held by a secured party having control of investment property under section 4-9-106 has priority over a security interest held by a secured party that…
Colo. Rev. Stat. § 4-9-329 Priority of security interests in letter-of-credit right
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The following rules govern priority among conflicting security interests in the same letter-of-credit right: (1) A security interest held by a secured party having control of the letter-of-credit right under section 4-9-107 has priority to the extent of its control over a conflic…
Colo. Rev. Stat. § 4-9-330 Priority of purchaser of chattel paper or instrument
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(a) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to a security interest if: (1) In good faith and in the ordinary course of the purchaser's business, the purchaser gives new value,…
Colo. Rev. Stat. § 4-9-331 Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments, and securities under other articles - priority of interests in financial assets and security entitlements and protection against assertion of claim under articles 8 and 12
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(a) This article 9 does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, a protected purchaser of a security, or a qualifying purchaser of a controllable account, controllable ele…
Colo. Rev. Stat. § 4-9-332 Transfer of money - transfer of funds from deposit account
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(a) A transferee of money takes the money free of a security interest if the transferee receives possession of the money without acting in collusion with the debtor in violating the rights of the secured party. (b) A transferee of funds from a deposit account takes the funds free…
Colo. Rev. Stat. § 4-9-333 Priority of certain liens arising by operation of law
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(a) In this section, possessory lien means an interest, other than a security interest or an agricultural lien: (1) Which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's b…
Colo. Rev. Stat. § 4-9-334 Priority of security interests in fixtures and crops
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(a) A security interest under this article may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under this article in ordinary building materials incorporated into an improvement on land. (b) This article does…
Colo. Rev. Stat. § 4-9-335 Accessions
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(a) A security interest may be created in an accession and continues in collateral that becomes an accession. (b) If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral. (c) Except as otherwise provi…
Colo. Rev. Stat. § 4-9-336 Commingled goods
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(a) In this section, commingled goods means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. (b) A security interest does not exist in commingled goods as such. However, a security interest may attach to a produc…
Colo. Rev. Stat. § 4-9-337 Priority of security interests in goods covered by certificate of title
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(1) If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security…
Colo. Rev. Stat. § 4-9-338 Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
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(1) If a security interest or agricultural lien is perfected by a filed financing statement providing information described in section 4-9-516 (b)(5) which is incorrect at the time the financing statement is filed: (1) The security interest or agricultural lien is subordinate to …
Colo. Rev. Stat. § 4-9-339 Priority subject to subordination
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This article does not preclude subordination by agreement by a person entitled to priority. Source: L. 2001: Entire article R&RE, p. 1370, � 1, effective July 1. Editor's note: This section is similar to former � 4-9-316 as it existed prior to 2001. 4-9-340. Effectiveness of righ…
Colo. Rev. Stat. § 4-9-340 Effectiveness of right of recoupment or set-off against deposit account
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(a) Except as otherwise provided in subsection (c) of this section, a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account. (b) Except as otherwise provided in…
Colo. Rev. Stat. § 4-9-341 Bank's rights and duties with respect to deposit account
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Except as otherwise provided in section 4-9-340 (c), and unless the bank otherwise agrees in a signed record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by: (1) The creation, attachment, or perf…
Colo. Rev. Stat. § 4-9-342 Bank’s right to refuse to enter into or disclose existence of control agreement
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This article does not require a bank to enter into an agreement of the kind described in section 4-9-104 (a)(2), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person…
Colo. Rev. Stat. § 4-9-401 Alienability of debtor's rights
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(a) Except as otherwise provided in subsection (b) of this section and sections 4-9-406, 4-9-407, 4-9-408, and 4-9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article. (b) An agreement between the…
Colo. Rev. Stat. § 4-9-402 Secured party not obligated on contract of debtor or in tort
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The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions. Source: L. 2001: Entire article R&RE, p. 13…
Colo. Rev. Stat. § 4-9-403 Agreement not to assert defenses against assignee
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(a) In this section, value has the meaning provided in section 4-3-303 (a). (b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the…
Colo. Rev. Stat. § 4-9-404 Rights acquired by assignee; claims and defenses against assignee
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(a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b) to (e) of this section, the rights of an assignee are subject to: (1) All terms of the agreement between the account debtor and assignor and any defense…
Colo. Rev. Stat. § 4-9-405 Modification of assigned contract
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(a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a brea…
Colo. Rev. Stat. § 4-9-406 Discharge of account debtor - notification of assignment - identification and proof of assignment - restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective
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(a) Subject to subsections (b) to (i) and (m) of this section, an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, signed by the assignor or t…
Colo. Rev. Stat. § 4-9-407 Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest
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(a) Except as otherwise provided in subsection (b) of this section, a term in a lease agreement is ineffective to the extent that it: (1) Prohibits, restricts, or requires the consent of a party to the lease to the assignment or transfer of, or the creation, attachment, perfectio…
Colo. Rev. Stat. § 4-9-408 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective
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(a) Except as otherwise provided in subsection (b) of this section, a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health-care-insurance receivable or a general intangible, including a contract, permit, license, or franchi…
Colo. Rev. Stat. § 4-9-409 Restrictions on assignment of letter-of-credit rights ineffective
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(a) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit which prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a securi…
Colo. Rev. Stat. § 4-9-501 Filing office
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(a) Except as otherwise provided in subsection (b) of this section, if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is: (1) The o…
Colo. Rev. Stat. § 4-9-502 Contents of financing statement - record of mortgage as financing statement - time of filing financing statement
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(a) Subject to subsection (b) of this section, a financing statement is sufficient only if it: (1) Provides the name of the debtor; (2) Provides the name of the secured party or a representative of the secured party; and (3) Indicates the collateral covered by the financing state…
Colo. Rev. Stat. § 4-9-503 Name of debtor and secured party
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(a) A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in paragraph (3) of this subsection (a), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financi…
Colo. Rev. Stat. § 4-9-504 Indication of collateral
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A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (1) A description of the collateral pursuant to section 4-9-108; or (2) An indication that the financing statement covers all assets or all personal property. Source: L…
Colo. Rev. Stat. § 4-9-505 Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions
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(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in section 4-9-311 (a), using the terms “consignor”, “consignee”, “lessor”, ”lesse…
Colo. Rev. Stat. § 4-9-506 Effect of errors or omissions
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(a) A financing statement substantially satisfying the requirements of this part 5 is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading. (b) Except as otherwise provided in subsection (c) of this …
Colo. Rev. Stat. § 4-9-507 Effect of certain events on effectiveness of financing statement
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(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. (b)…
Colo. Rev. Stat. § 4-9-508 Effectiveness of financing statement if new debtor becomes bound by security agreement
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(a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had …
Colo. Rev. Stat. § 4-9-509 Persons entitled to file a record
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(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if: (1) The debtor authorizes the filing in a signed record or pursuant to subsection (b) or (c) of…
Colo. Rev. Stat. § 4-9-510 Effectiveness of filed record
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(a) A filed record is effective only to the extent that it was filed by a person that may file it under section 4-9-509. (b) A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record. (c) Subject to …
Colo. Rev. Stat. § 4-9-511 Secured party of record
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(a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under…
Colo. Rev. Stat. § 4-9-512 Amendment of financing statement
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(a) Subject to section 4-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that: (1) Identif…
Colo. Rev. Stat. § 4-9-513 Termination statement
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(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (1) There is no obligation secured by the collateral covered by the financing st…
Colo. Rev. Stat. § 4-9-514 Assignment of powers of secured party of record
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(a) Except as otherwise provided in subsection (c) of this section, an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the n…
Colo. Rev. Stat. § 4-9-515 Duration and effectiveness of financing statement - effect of lapsed financing statement
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(a) Except as otherwise provided in subsections (b), (e), (f), and (g) of this section and section 4-9-528, a filed financing statement is effective for a period of five years after the date of filing. (b) Except as otherwise provided in subsections (e), (f), and (g) of this sect…
Colo. Rev. Stat. § 4-9-516 What constitutes filing - effectiveness of filing
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(a) Except as otherwise provided in subsection (b) of this section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing. (b) Filing does not occur with respect to a record that a filing offi…
Colo. Rev. Stat. § 4-9-517 Effect of indexing errors
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The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. Source: L. 2001: Entire article R&RE, p. 1389, � 1, effective July 1.
Colo. Rev. Stat. § 4-9-518 Claim concerning inaccurate or wrongfully filed record
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(a) (1) Any person named as a debtor may file in the filing office an information statement with respect to a record indexed there under the debtor's name if the person believes that the record is inaccurate or was wrongfully filed. (2) and (3) Repealed. (b) An information statem…
Colo. Rev. Stat. § 4-9-519 Numbering, maintaining, and indexing records - communicating information provided in records
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(a) For each record filed in a filing office, the filing office shall: (1) Assign a unique number to the filed record; (2) Create a record that bears the number assigned to the filed record and the date and time of filing; (3) Maintain the filed record for public inspection; and …
Colo. Rev. Stat. § 4-9-520 Acceptance and refusal to accept record
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(a) A filing office shall refuse to accept a record for filing for a reason set forth in section 4-9-516 (b) and may refuse to accept a record for filing only for a reason set forth in section 4-9-516 (b). (b) If a filing office refuses to accept a record for filing, it shall com…
Colo. Rev. Stat. § 4-9-521 Uniform form of written financing statement and amendment
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(a) A filing office that accepts written records may not refuse to accept a written initial financing statement in the form and format adopted from time to time by the secretary of state, except for a reason set forth in section 4-9-516 (b). (b) A filing office that accepts writt…
Colo. Rev. Stat. § 4-9-522 Maintenance and destruction of records
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(a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under section 4-9-515 with respect to all secured parties of record. The record must be ret…
Colo. Rev. Stat. § 4-9-523 Information from filing office - sale or license of records
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(a) If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record pursuant to section 4-9-519 (a)(1), the name of the debtor and the date and time of th…
Colo. Rev. Stat. § 4-9-524 Delay by filing office
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Delay by the filing office beyond a time limit prescribed by this part 5 is excused if: (1) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; an…