Colorado § 4-9.5-107 Termination statement

Colorado Statutes

§ 4-9.5-107 — Termination statement

Colorado § 4-9.5-107

Title 04Uniform

Art.Central Filing of Effective

This text of Colorado § 4-9.5-107 (Termination statement) 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. § 4-9.5-107 (2026).

Text

(1)The secured party identified in an effective financing statement may at any time, and without regard to whether there is any outstanding secured obligation or commitment to make advances, incur obligations, or otherwise give value, file with the central filing officer a termination statement with respect to such effective financing statement pursuant to this section and provide notice to the debtor of such filing. (1.3) (a) Unless the debtor otherwise requests, whenever there is no outstanding secured obligation and no commitment to make advances, incur obligations, or otherwise give value, the secured party identified in an effective financing statement relating to such obligation or commitment shall, within thirty days, terminate such effective financing statement by filing

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(1) The secured party identified in an
effective financing statement may at any time, and without regard to whether there
is any outstanding secured obligation or commitment to make advances, incur
obligations, or otherwise give value, file with the central filing officer a termination
statement with respect to such effective financing statement pursuant to this
section and provide notice to the debtor of such filing.

(1.3) (a) Unless the debtor otherwise requests, whenever there is no
outstanding secured obligation and no commitment to make advances, incur
obligations, or otherwise give value, the secured party identified in an effective
financing statement relating to such obligation or commitment shall, within thirty
days, terminate such effective financing statement by filing with the central filing
officer either:

(I) A termination statement pursuant to this section; or

(II) A termination statement pursuant to article 9 of this title.

(b) If a termination statement is filed pursuant to either subparagraph (I) or
(II) of paragraph (a) of this subsection (1.3), the secured party shall provide notice to
the debtor of such filing. If the secured party fails to file a required termination
statement within the thirty-day period, the secured party shall be liable to the
debtor for one thousand dollars, and, in addition, for any loss caused to the debtor
by such failure.

(1.5) A termination statement filed pursuant to either subsection (1) or
subparagraph (I) of paragraph (a) of subsection (1.3) of this section does not
terminate or otherwise impair the perfection of any security interest perfected by
the effective financing statement for purposes of article 9 of this title.

(2) (a) The termination statement shall:

(I) Be signed, authorized, or otherwise authenticated by the secured party,
and if such notice is filed by electronic transmission it shall be signed
electronically, pursuant to section 24-71-101, C.R.S.;

(II) Identify the effective financing statement, the effectiveness of which is
to be terminated, by file number, filing office where originally filed, and date filed;
and

(III) State that the effective financing statement is to be removed from the
master list.

(b) The effectiveness of a terminated effective financing statement shall
cease as of the date and hour of filing the termination statement by the central
filing officer.

Legislative History

Source: L. 88: Entire article added, p. 331, � 1, effective May 29. L. 97: (2) amended, p. 551, � 10, effective April 24. L. 99: (1) and (2)(b) amended, p. 749, � 17, effective January 1, 2000. L. 2001: (1) and (2)(a)(I) amended, p. 1430, � 9, effective July 1. L. 2004: (2)(a)(I) amended, p. 1172, � 3, effective July 1. L. 2006: (1) and (2) amended and (1.3) and (1.5) added, p. 1150, � 7, effective (see editor's note). L. 2008: (1.5) amended, p. 268, � 7, effective May 29, 2012.