Colorado § 4-4.5-106 Time payment order is received

Colorado Statutes

§ 4-4.5-106 — Time payment order is received

Colorado § 4-4.5-106

Title 04Uniform

Art.Funds Transfers

This text of Colorado § 4-4.5-106 (Time payment order is received) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 4-4.5-106 (2026).

Text

(a)The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in section 4-1-202. A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications canceling or amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication canceling or amending a payment order is received after the close of a funds-transfe

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(a) The time of receipt of a
payment order or communication canceling or amending a payment order is
determined by the rules applicable to receipt of a notice stated in section 4-1-202.
A receiving bank may fix a cut-off time or times on a funds-transfer business day
for the receipt and processing of payment orders and communications canceling or
amending payment orders. Different cut-off times may apply to payment orders,
cancellations, or amendments, or to different categories of payment orders,
cancellations, or amendments. A cut-off time may apply to senders generally or
different cut-off times may apply to different senders or categories of payment
orders. If a payment order or communication canceling or amending a payment
order is received after the close of a funds-transfer business day or after the
appropriate cut-off time on a funds-transfer business day, the receiving bank may
treat the payment order or communication as received at the opening of the next
funds-transfer business day.

(b) If this article refers to an execution date or payment date or states a day
on which a receiving bank is required to take action, and the date or day does not
fall on a funds-transfer business day, the next day that is a funds-transfer business
day is treated as the date or day stated, unless the contrary is stated in this article.