Colorado § 4-4.5-201 Security procedure

Colorado Statutes

§ 4-4.5-201 — Security procedure

Colorado § 4-4.5-201

Title 04Uniform

Art.Funds Transfers

This text of Colorado § 4-4.5-201 (Security procedure) 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. § 4-4.5-201 (2026).

Text

Security procedure means a procedure
established by agreement of a customer and a receiving bank for the purpose of (i)
verifying that a payment order or communication amending or canceling a payment
order is that of the customer or (ii) detecting error in the transmission or the content
of the payment order or communication. A security procedure may impose an
obligation on the receiving bank or the customer and may require the use of
algorithms or other codes, identifying words, numbers, symbols, sounds, biometrics,
encryption, callback procedures, or similar security devices. Comparison of a
signature on a payment order or communication with an authorized specimen
signature of the customer or requiring a payment order to be sent from a known e-mail address, IP address, or teleph

Free access — add to your briefcase to read the full text and ask questions with AI

Security procedure means a procedure
established by agreement of a customer and a receiving bank for the purpose of (i)
verifying that a payment order or communication amending or canceling a payment
order is that of the customer or (ii) detecting error in the transmission or the content
of the payment order or communication. A security procedure may impose an
obligation on the receiving bank or the customer and may require the use of
algorithms or other codes, identifying words, numbers, symbols, sounds, biometrics,
encryption, callback procedures, or similar security devices. Comparison of a
signature on a payment order or communication with an authorized specimen
signature of the customer or requiring a payment order to be sent from a known e-mail address, IP address, or telephone number is not by itself a security procedure.

Legislative History

Source: L. 90: Entire article added, p. 345, � 1, effective January 1, 1991. L. 2023: Entire section amended, (SB 23-090), ch. 136, p. 532, � 25, effective August 7.