Title 4, Uniform Commercial Code

(a) A person may file an initial financing statement or a continuation statement under this part 8 if: (1) The secured party of record authorizes the filing; and (2) The filing is necessary under this part 8: (A) To continue the effectiveness of a financing statement filed before…

House Bill 12-1262, enacted in 2012, determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2013, this article, as it existed before July 1, 2013, determines priority. Source: L. 2012: Entire …

This article 12 may be cited as the "Uniform Commercial Code-Controllable Electronic Records". Source: L. 2023: Entire section added, (SB 23-090), ch. 136, p. 569, § 89, effective August 7.

(a) In this article 12: (1) "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under section 4-12-105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electroni…

(a) If there is conflict between this article 12 and article 9 of this title 4, article 9 of this title 4 governs. (b) A transaction subject to this article 12 is subject to any applicable rule of law that establishes a different rule for consumers and any other state law. Source…

(a) This section applies to the acquisition and purchase of rights in a controllable account or controllable payment intangible, including the rights and benefits under subsections (c), (d), (e), (g), and (h) of this section of a purchaser and qualifying purchaser, in the same ma…

(a) A person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record, or a system in which the electronic record is recorded: (1) Gives the person: (A) Power to avail itself of substantially…

(a) An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying: (1) The person having control of the controllable electronic record that evidences the controllable account or controllable payment intangible; or (2) Except…

(a) Except as provided in subsection (b) of this section, the local law of a controllable electronic record's jurisdiction governs a matter covered by this article 12. (b) For a controllable electronic record that evidences a controllable account or controllable payment intangibl…

This article 13 may be cited as "Transitional Provisions for Uniform Commercial Code Amendments (2022)". Source: L. 2023: Entire section added, (SB 23-090), ch. 136, p. 569, § 89, effective August 7.

(a) In this article 13: (1) "Adjustment date" means July 1, 2025, or the date that is one year after the effective date of this article 13, whichever is later. (2) "Article 12" means article 12 of this title 4. (3) "Article 12 property" means a controllable account, controllable …

Except as provided in part 3 of this article 13, a transaction validly entered into before the effective date of this article 13 and the rights, duties, and interests flowing from the transaction remain valid thereafter and may be terminated, completed, consummated, or enforced a…

(a) Except as provided in this part 3, article 9, as amended by Senate Bill 23-090, enacted in 2023, and article 12 of this title 4, as enacted by Senate Bill 23-090, enacted in 2023, apply to a transaction, lien, or other interest in property, even if the transaction, lien, or i…

(a) A security interest that is enforceable and perfected immediately before the effective date of this article 13 is a perfected security interest under this title 4 if, on the effective date of this article 13, the requirements for enforceability and perfection under this title…

A security interest that is enforceable immediately before the effective date of this article 13 but is unperfected at that time: (1) Remains an enforceable security interest until the adjustment date; (2) Remains enforceable thereafter if the security interest becomes enforceabl…

(a) If action, other than the filing of a financing statement, is taken before the effective date of this article 13 and the action would have resulted in perfection of the security interest had the security interest become enforceable before the effective date of this article 13…

(a) Subject to subsections (b) and (c) of this section, this title 4 determines the priority of conflicting claims to collateral. (b) Subject to subsection (c) of this section, if the priorities of claims to collateral were established before the effective date of this article 13…

(a) Subject to subsections (b) and (c) of this section, article 12 of this title 4, as enacted by Senate Bill 23-090, enacted in 2023, determines the priority of conflicting claims to article 12 property when the priority rules of article 9 of this title 4, as amended by Senate B…

This article shall be known and may be cited as the "Uniform Commercial Code - Leases". Source: L. 91: Entire article added, p. 272, § 1, effective July 1, 1992. ANNOTATION Law reviews. For article, "Personal Property Leases and the New UCC Article 2.5", see 21 Colo. Law. 1101 (1…

(1) This article 2.5 applies to any transaction, regardless of form, that creates a lease, and, in the case of a hybrid lease, this article 2.5 applies to the extent provided in subsection (2) of this section. (2) In a hybrid lease: (a) If the lease-of-goods aspects do not predom…

(1) In this article 2.5, unless the context otherwise requires: (a) "Buyer in ordinary course of business" means a person who in good faith and without knowledge that the sale to him or her is in violation of the ownership rights or security interest or leasehold interest of a th…

(1) A lease, although subject to this article, is also subject to any applicable: (a) Certificate of title statute of this state (including vessels under article 13 of title 33, C.R.S., snowmobiles under article 14 of title 33, C.R.S., mobile homes under article 29 of title 38, C…

Subject to the provisions of sections 4-2.5-304 (3) and 4-2.5-305 (3), with respect to goods covered by a certificate of title issued under a statute of this state or of another jurisdiction, compliance and the effect of compliance or noncompliance with a certificate of title sta…

(1) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time the lease agreement becomes enforceable or within thirty days thereafter or in which the goods are to be used, the choice is not en…

Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a waiver or renunciation in a signed record delivered by the aggrieved party. Source: L. 91: Entire article added, p. 278, § 1, effective July…

(1) If the court as a matter of law finds a lease contract or any clause of a lease contract to have been unconscionable at the time it was made the court may refuse to enforce the lease contract, or it may enforce the remainder of the lease contract without the unconscionable cl…

(1) A term providing that one party or his or her successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or "when he or she deems himself or herself insecure" or in words of similar import must be construed to mean tha…

(1) A lease contract is not enforceable by way of action or defense unless: (a) The total payments to be made under the lease contract, excluding payments for options to renew or buy, are less than one thousand dollars; or (b) There is a record, signed by the party against whom e…

(1) Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a record intended by the parties as a final expression of their agreement with respect to such terms as are included therein may not be contradicted by evidence of …

The affixing of a seal to a record evidencing a lease contract or an offer to enter into a lease contract does not render the record a sealed instrument and the law with respect to sealed instruments does not apply to the lease contract or offer. Source: L. 91: Entire article add…

(1) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of a lease contract. (2) An agreement sufficient to constitute a lease contract may be found although the moment of its making is undeterm…

An offer by a merchant to lease goods to or from another person in a signed record that by its terms gives assurance it will be held open is not revocable, for lack of consideration, during the time stated or, if no time is stated, for a reasonable time, but in no event may the p…

(1) Unless otherwise unambiguously indicated by the language or circumstances, an offer to make a lease contract must be construed as inviting acceptance in any manner and by any medium reasonable in the circumstances. (2) If the beginning of a requested performance is a reasonab…

(1) If a lease contract involves repeated occasions for performance by either party with knowledge of the nature of the performance and opportunity for objection to it by the other, any course of performance accepted or acquiesced in without objection is relevant to determine the…

(1) An agreement modifying a lease contract needs no consideration to be binding. (2) A signed lease agreement that excludes modification or rescission except by a signed record may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a …

(1) The benefit of the supplier's promises to the lessor under the supply contract and of all warranties, whether express or implied, including those of any third party provided in connection with or as a part of the supply contract, extends to the lessee to the extent of the les…

(1) Express warranties by the lessor are created as follows: (a) Any affirmation of fact or promise made by the lessor to the lessee which relates to the goods and becomes part of the basis of the bargain creates an express warranty that the goods will conform to the affirmation …

(1) There is in a lease contract a warranty that for the lease term no person holds a claim to or interest in the goods that arose from an act or omission of the lessor, other than a claim by way of infringement or the like, which will interfere with the lessee's enjoyment of its…

(1) Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect to goods of that kind. (2) Goods to be merchantable must be at least such as (a) pass without objection in the trade under the des…

Except in a finance lease, if the lessor at the time the lease contract is made has reason to know of any particular purpose for which the goods are required and that the lessee is relying on the lessor's skill or judgment to select or furnish suitable goods, there is in the leas…

(1) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit a warranty must be construed wherever reasonable as consistent with each other; but, subject to the provisions of section 4-2.5-202 on parol or extrinsic evidence,…

Warranties, whether express or implied, must be construed as consistent with each other and as cumulative, but if that construction is unreasonable, the intention of the parties determines which warranty is dominant. In ascertaining that intention the following rules apply: (a) E…

A warranty to or for the benefit of a lessee under this article, whether express or implied, extends to any person who may reasonably be expected to use, consume, or be affected by the goods and who is injured by breach of the warranty. The operation of this section may not be ex…

Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs: (a) When the lease contract is made if the lease contract is for a lease o…

(1) A lessee obtains an insurable interest when existing goods are identified to the lease contract even though the goods identified are nonconforming and the lessee has an option to reject them. (2) If a lessee has an insurable interest only by reason of the lessor's identificat…

(1) Except in the case of a finance lease, risk of loss is retained by the lessor and does not pass to the lessee. In the case of a finance lease, risk of loss passes to the lessee. (2) Subject to the provisions of this article on the effect of default on risk of loss (section 4-…