Colorado § 11-111-106 Permissible purpose

Colorado Statutes

§ 11-111-106 — Permissible purpose

Colorado § 11-111-106

Title 11Financial

Art.Uniform Special Deposits Act

This text of Colorado § 11-111-106 (Permissible purpose) 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. § 11-111-106 (2026).

Text

(1)A special deposit must serve at least one permissible purpose stated in the account agreement from the time the special deposit is created in the account agreement until termination of the special deposit.

(2)If, before termination of the special deposit, the bank or a court determines the special deposit no longer satisfies subsection (1) of this section, sections 11-111-108 to 11-111-111 cease to apply to any funds deposited in the special deposit after the special deposit ceases to satisfy subsection (1) of this section.

(3)If, before termination of a special deposit, the bank determines the special deposit no longer satisfies subsection (1) of this section, the bank may take action it believes is necessary under the circumstances, including terminating the special depos

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(1) A special deposit must serve at least
one permissible purpose stated in the account agreement from the time the special
deposit is created in the account agreement until termination of the special deposit.

(2) If, before termination of the special deposit, the bank or a court
determines the special deposit no longer satisfies subsection (1) of this section,
sections 11-111-108 to 11-111-111 cease to apply to any funds deposited in the special
deposit after the special deposit ceases to satisfy subsection (1) of this section.

(3) If, before termination of a special deposit, the bank determines the
special deposit no longer satisfies subsection (1) of this section, the bank may take
action it believes is necessary under the circumstances, including terminating the
special deposit.