Colorado § 38-37-108 Payments to public trustee - electronic transfers - definition

Colorado Statutes

§ 38-37-108 — Payments to public trustee - electronic transfers - definition

Colorado·Title 38 Property -·Art. Office of Public Trustee

(1)All moneys payable to a public trustee at any foreclosure sale under the provisions of this article or upon redemption or cure pursuant to article 38 of this title shall be in the form of cash, electronic transfer to an account of the public trustee available for such purpose and in compliance with the conditions placed on the account by the public trustee for such electronic transfer, or certified check, cashier's check, teller's check, or draft denominated as an official check that is a teller's check or a cashier's check as those terms are defined in and governed by the Uniform Commercial Code, title 4, C.R.S., made payable to the public trustee, and certified or issued by a state-chartered bank, savings and loan association, or credit union licensed to do business in the s

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(1) All moneys payable to a public trustee at any foreclosure sale under the
provisions of this article or upon redemption or cure pursuant to article 38 of this
title shall be in the form of cash, electronic transfer to an account of the public
trustee available for such purpose and in compliance with the conditions placed on
the account by the public trustee for such electronic transfer, or certified check,
cashier's check, teller's check, or draft denominated as an official check that is a
teller's check or a cashier's check as those terms are defined in and governed by
the Uniform Commercial Code, title 4, C.R.S., made payable to the public trustee,
and certified or issued by a state-chartered bank, savings and loan association, or
credit union licensed to do business in the state of Colorado or a federally
chartered bank, savings bank, or credit union.

(2) As used in this section, electronic transfer means a transfer of funds
initiated by using an electronic terminal, telephonic instrument, or computer or
magnetic tape to order or authorize a financial institution to credit or debit an
account. Electronic transfer payments do not include transactions originated by
check, draft, or similar paper instrument.

Colorado § 38-37-108 (Payments to public trustee - electronic transfers - definition) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 90: Entire article R&RE, p. 1652, � 1, effective October 1; entire section amended, p. 1849, � 50, effective October 1. L. 91: Entire section amended, p. 1921, � 51, effective June 1. L. 2002: Entire section amended, p. 1332, � 4, effective July 1. L. 2006: Entire section amended, p. 1437, � 3, effective July 1. L. 2012: Entire section amended, (SB 12-030), ch. 96, p. 314, � 2, effective September 1. L. 2015: Entire section amended, (HB 15-1142), ch. 113, p. 337, � 2, effective September 1.