Title 4, Uniform Commercial Code
0 chapters · 527 sections in this title.
Colo. Rev. Stat. § 4-9-101 Short title
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This article may be cited as the Uniform Commercial Code - Secured Transactions. Source: L. 2001: Entire article R&RE, p. 1313, � 1, effective July 1. Editor's note: This section is similar to former � 4-9-101 as it existed prior to 2001.
Colo. Rev. Stat. § 4-9-102 Definitions and index of definitions
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(a) In this article 9: (1) Accession means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. (2) Account, except as used in account for, account statement, account to, commodity account in subsection (a)(14) of…
Colo. Rev. Stat. § 4-9-103 Purchase-money security interest - application of payments - burden of establishing - definitions
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(a) In this section: (1) “Purchase-money collateral” means goods or software that secures a purchase-money obligation incurred with respect to that collateral; and (2) “Purchase-money obligation” means an obligation of an obligor incurred as all or part of the price of the collat…
Colo. Rev. Stat. § 4-9-104 Control of deposit account
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(a) A secured party has control of a deposit account if: (1) The secured party is the bank with which the deposit account is maintained; (2) The debtor, secured party, and bank have agreed in a signed record that the bank will comply with instructions originated by the secured pa…
Colo. Rev. Stat. § 4-9-105 Control of electronic copy of record evidencing chattel paper
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(a) A purchaser has control of an authoritative electronic copy of a record evidencing chattel paper if a system employed for evidencing the assignment of interests in the chattel paper reliably establishes the purchaser as the person to which the authoritative electronic copy wa…
Colo. Rev. Stat. § 4-9-106 Control of investment property
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(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 4-8-106. (b) A secured party has control of a commodity contract if: (1) The secured party is the commodity intermediary with which the commodity contract …
Colo. Rev. Stat. § 4-9-107 Control of letter-of-credit right
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A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under section 4-5-114 (c) or oth…
Colo. Rev. Stat. § 4-9-107.5 Control of controllable electronic record, controllable account, or controllable payment intangible
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(a) A secured party has control of a controllable electronic record as provided in section 4-12-105. (b) A secured party has control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences …
Colo. Rev. Stat. § 4-9-108 Sufficiency of description
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(a) Except as otherwise provided in subsections (c), (d), (e), and (f) of this section, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described. (b) Except as otherwise provided in subsection (d) of th…
Colo. Rev. Stat. § 4-9-109 Scope
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(a) Except as otherwise provided in subsections (c), (d), and (e) of this section, this article applies to: (1) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (2) An agricultural lien; (3) A sale of accounts, …
Colo. Rev. Stat. § 4-9-110 Security interests arising under article 2 or 2.5
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A security interest arising under section 4-2-401, 4-2-505, 4-2-711 (3), or 4-2.5-508 (5) is subject to this article. However, until the debtor obtains possession of the goods: (1) The security interest is enforceable, even if section 4-9-203 (b)(3) has not been satisfied; (2) Fi…
Colo. Rev. Stat. § 4-9-201 General effectiveness of security agreement
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(a) Except as otherwise provided by this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) A transaction subject to this article 9 is subject to any applicable rule of law that est…
Colo. Rev. Stat. § 4-9-202 Title to collateral immaterial
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Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. S…
Colo. Rev. Stat. § 4-9-203 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites
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(a) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment. (b) Except as otherwise provided in subsections (c) to (i) of this section, a security int…
Colo. Rev. Stat. § 4-9-204 After-acquired property - future advances
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(a) Except as otherwise provided in subsection (b) of this section, a security agreement may create or provide for a security interest in after-acquired collateral. (b) Subject to subsection (b.1) of this section, a security interest does not attach under a term constituting an a…
Colo. Rev. Stat. § 4-9-205 Use or disposition of collateral permissible
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(a) A security interest is not invalid or fraudulent against creditors solely because: (1) The debtor has the right or ability to: (A) Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (B) Collect, compromise, enforce, or otherw…
Colo. Rev. Stat. § 4-9-206 Security interest arising in purchase or delivery of financial asset
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(a) A security interest in favor of a securities intermediary attaches to a person's security entitlement if: (1) The person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities in…
Colo. Rev. Stat. § 4-9-207 Rights and duties of secured party having possession or control of collateral
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(a) Except as otherwise provided in subsection (d) of this section, a secured party shall use reasonable care in the custody and preservation of collateral in the secured party’s possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary …
Colo. Rev. Stat. § 4-9-208 Additional duties of secured party having control of collateral
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(a) This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Within five business days after receiving a signed demand by the debtor: (1) A secured pa…
Colo. Rev. Stat. § 4-9-209 Duties of secured party if account debtor has been notified of assignment
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(a) Except as otherwise provided in subsection (c) of this section, this section applies if: (1) There is no outstanding secured obligation; and (2) The secured party is not committed to make advances, incur obligations, or otherwise give value. (1) There is no outstanding secure…
Colo. Rev. Stat. § 4-9-210 Request for accounting - request regarding list of collateral or statement of account - definitions
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(a) In this section: (1) “Request” means a record of a type described in paragraph (2), (3), or (4) of this subsection (a). (2) “Request for an accounting” means a record signed by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by c…
Colo. Rev. Stat. § 4-9-301 Law governing perfection and priority of security interests
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Except as otherwise provided in sections 4-9-303 to 4-9-306.7, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral: (1) Except as otherwise provided in this section, while a d…
Colo. Rev. Stat. § 4-9-302 Law governing perfection and priority of agricultural liens
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While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products. Source: L. 2001: Entire article R&RE, p. 1342, � 1, effective July 1…
Colo. Rev. Stat. § 4-9-303 Law governing perfection and priority of security interests in goods covered by a certificate of title
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(a) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods or the debtor. (b) Goods become covered by a certificate of title when a valid…
Colo. Rev. Stat. § 4-9-304 Law governing perfection and priority of security interests in deposit accounts
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(a) The local law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank even if the transaction does not bear any relation to the bank’s jurisdiction. (b) The …
Colo. Rev. Stat. § 4-9-305 Law governing perfection and priority of security interests in investment property
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(a) Except as otherwise provided in subsection (c) of this section, the following rules apply: (1) While a security certificate is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a se…
Colo. Rev. Stat. § 4-9-306 Law governing perfection and priority of security interests in letter-of-credit rights
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(a) Subject to subsection (c) of this section, the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer’s jurisd…
Colo. Rev. Stat. § 4-9-306.5 Law governing perfection and priority of security interests in chattel paper
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(a) Except as provided in subsection (d) of this section, if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and an authoritative tangible copy, the local law of the chattel paper’s juris…
Colo. Rev. Stat. § 4-9-306.7 Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles
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(a) Except as provided in subsection (b) of this section, the local law of the controllable electronic record’s jurisdiction specified in section 4-12-107 (c) and (d) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a contr…
Colo. Rev. Stat. § 4-9-307 Location of debtor
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(a) In this section, place of business means a place where a debtor conducts its affairs. (b) Except as otherwise provided in this section, the following rules determine a debtor's location: (1) A debtor who is an individual is located at the individual's principal residence. (2)…
Colo. Rev. Stat. § 4-9-308 When security interest or agricultural lien is perfected - continuity of perfection
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(a) Except as otherwise provided in this section and section 4-9-309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in sections 4-9-310 to 4-9-316 have been satisfied. A security interest is perfected when it attaches if…
Colo. Rev. Stat. § 4-9-309 Security interest perfected upon attachment
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The following security interests are perfected when they attach: (1) A purchase-money security interest in consumer goods, except as otherwise provided in section 4-9-311 (b) with respect to consumer goods that are subject to a statute or treaty described in section 4-9-311 (a); …
Colo. Rev. Stat. § 4-9-310 When filing required to perfect security interest or agricultural lien - security interests and agricultural liens to which filing provisions do not apply
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(a) Except as otherwise provided in subsection (b) of this section and section 4-9-312 (b), a financing statement must be filed to perfect all security interests and agricultural liens. (b) The filing of a financing statement is not necessary to perfect a security interest: (1) T…
Colo. Rev. Stat. § 4-9-311 Perfection of security interests in property subject to certain statutes, regulations, and treaties
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(a) Except as otherwise provided in subsection (d) of this section, the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to: (1) A statute, regulation, or treaty of the United States whose requirements for a security…
Colo. Rev. Stat. § 4-9-312 Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money - perfection by permissive filing - temporary perfection without filing or transfer of possession
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(a) A security interest in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, instruments, investment property, or negotiable documents may be perfected by filing. (b) Except as otherwise provided in section 4-9-315 (c) and (d…
Colo. Rev. Stat. § 4-9-313 When possession by or delivery to secured party perfects security interest without filing
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(a) Except as otherwise provided in subsection (b) of this section, a secured party may perfect a security interest in goods, instruments, negotiable tangible documents, or money by taking possession of the collateral. A secured party may perfect a security interest in certificat…
Colo. Rev. Stat. § 4-9-314 Perfection by control
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(a) A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property, or letter-of-credit rights may be perfected by control of the collateral under section 4-7-106, 4-9-10…
Colo. Rev. Stat. § 4-9-314.5 Perfection by possession and control of chattel paper
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(a) A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritative electronic copy of the electronic record evidencing the chattel pap…
Colo. Rev. Stat. § 4-9-315 Secured party’s rights on disposition of collateral and in proceeds
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(a) Except as otherwise provided in this article and in section 4-2-403 (2): (1) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free …
Colo. Rev. Stat. § 4-9-316 Continued perfection of security interest following change in governing law
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(a) A security interest perfected pursuant to the law of the jurisdiction designated in section 4-9-301 (1), 4-9-305 (c), 4-9-306.5 (d), or 4-9-306.7 (b) remains perfected until the earliest of: (1) The time perfection would have ceased under the law of that jurisdiction; (2) The…
Colo. Rev. Stat. § 4-9-317 Interests that take priority over or take free of security interest or agricultural lien
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(a) A security interest or agricultural lien is subordinate to the rights of: (1) A person entitled to priority under section 4-9-322; and (2) Except as otherwise provided in subsection (e) of this section, a person that becomes a lien creditor before the security interest or agr…
Colo. Rev. Stat. § 4-9-318 No interest retained in right to payment that is sold - rights and title of seller of account or chattel paper with respect to creditors and purchasers
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(a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold. (b) For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper f…
Colo. Rev. Stat. § 4-9-319 Rights and title of consignee with respect to creditors and purchasers
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(a) Except as otherwise provided in subsection (b) of this section, for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and titl…
Colo. Rev. Stat. § 4-9-320 Buyer of goods
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(a) Except as otherwise provided in subsection (e) of this section, a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer's seller, even if the security …
Colo. Rev. Stat. § 4-9-321 Licensee of general intangible and lessee of goods in ordinary course of business
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(a) In this section, “licensee in ordinary course of business ” means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a pers…
Colo. Rev. Stat. § 4-9-322 Priorities among conflicting security interests in and agricultural liens on same collateral
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(a) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following rules: (1) Conflicting perfected security interests and agricultural liens rank according to prio…
Colo. Rev. Stat. § 4-9-323 Future advances
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(a) Except as otherwise provided in subsection (c) of this section, for purposes of determining the priority of a perfected security interest under section 4-9-322 (a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security i…
Colo. Rev. Stat. § 4-9-324 Priority of purchase-money security interests
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(a) Except as otherwise provided in subsection (g) of this section, a perfected purchase-money security interest in goods other than inventory or livestock has priority over a conflicting security interest in the same goods, and, except as otherwise provided in section 4-9-327, a…
Colo. Rev. Stat. § 4-9-325 Priority of security interests in transferred collateral
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(a) Except as otherwise provided in subsection (b) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (1) The debtor acquired the collateral subject to the security interest created b…
Colo. Rev. Stat. § 4-9-326 Priority of security interests created by new debtor
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(a) Subject to subsection (b) of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but fo…