Colorado § 4-4.5-505 Preclusions of objection to debit of customer's account

Colorado Statutes

§ 4-4.5-505 — Preclusions of objection to debit of customer's account

Colorado § 4-4.5-505

Title 04Uniform

Art.Funds Transfers

This text of Colorado § 4-4.5-505 (Preclusions of objection to debit of customer's account) 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. § 4-4.5-505 (2026).

Text

If a
receiving bank has received payment from its customer with respect to a payment
order issued in the name of the customer as sender and accepted by the bank, and
the customer received notification reasonably identifying the order, the customer is
precluded from asserting that the bank is not entitled to retain the payment unless
the customer notifies the bank of the customer's objection to the payment within
one year after the notification was received by the customer.

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If a
receiving bank has received payment from its customer with respect to a payment
order issued in the name of the customer as sender and accepted by the bank, and
the customer received notification reasonably identifying the order, the customer is
precluded from asserting that the bank is not entitled to retain the payment unless
the customer notifies the bank of the customer's objection to the payment within
one year after the notification was received by the customer.