§ 4-4-104 — Definitions and index of definitions

Colorado § 4-4-104

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Bank Deposits and Collections

Text

(a) In this article, unless the
context otherwise requires:

(1) Account means any deposit or credit account with a bank, including a
demand, time, savings, passbook, share draft, or like account, other than an account
evidenced by a certificate of deposit;

(2) Afternoon means the period of a day between noon and midnight;

(3) Banking day means the part of a day, excluding Saturday, Sunday, and
holidays, on which a bank is open to the public for carrying on substantially all of its
banking functions;

(4) Clearing-house means an association of banks or other payors regularly
clearing items;

(5) Customer means a person having an account with a bank or for whom a
bank has agreed to collect items, including a bank that maintains an account at
another bank;

(6) Documentary draft means a draft to be presented for acceptance or
payment if specified documents, certificated securities (section 4-8-102) or
instruction for uncertificated securities (section 4-8-102), or other certificates,
statements, or the like are to be received by the drawee or other payor before
acceptance or payment of the draft;

(7) Draft means a draft as defined in section 4-3-104 or an item, other than
an instrument, that is an order;

(8) Drawee means a person ordered in a draft to make payment;

(9) Item means an instrument or a promise or order to pay money handled
by a bank for collection or payment. The term does not include a payment order
governed by article 4.5 of this title or a credit or debit card slip;

(10) Midnight deadline with respect to a bank is midnight on its next
banking day following the banking day on which it receives the relevant item or
notice or from which the time for taking action commences to run, whichever is
later;

(11) Settle means to pay in cash, by clearing-house settlement, in a charge
or credit, or by remittance, or otherwise as agreed. A settlement may be either
provisional or final;

(12) Suspends payments with respect to a bank means that it has been
closed by order of the supervisory authorities, that a public officer has been
appointed to take it over or that it ceases or refuses to make payments in the
ordinary course of business.

(b) Other definitions applying to this article and the sections in which they
appear are:

Agreement for electronic presentmentSection 4-4-110

BankSection 4-4-105

Collecting bankSection 4-4-105

Depositary bankSection 4-4-105

Intermediary bankSection 4-4-105

Payor bankSection 4-4-105

Presenting bankSection 4-4-105

Presentment noticeSection 4-4-110

(c) Control as provided in section 4-7-106 and the following definitions in
other articles of this title apply to this article:

AcceptanceSection 4-3-409

AlterationSection 4-3-407

Cashier's checkSection 4-3-104

Certificate of depositSection 4-3-104

Certified checkSection 4-3-409

CheckSection 4-3-104

Good faithSection 4-3-103

Holder in due courseSection 4-3-302

InstrumentSection 4-3-104

Notice of dishonorSection 4-3-503

OrderSection 4-3-103

Ordinary careSection 4-3-103

Person entitled to enforceSection 4-3-301

PresentmentSection 4-3-501

PromiseSection 4-3-103

ProveSection 4-3-103

Teller's checkSection 4-3-104

Unauthorized signatureSection 4-3-403

(d) In addition, article 1 of this title contains general definitions and
principles of construction and interpretation applicable throughout this article.

Legislative History

Source: L. 94: Entire article amended with relocations, p. 880, � 2, effective January 1, 1995. L. 96: (a)(6) amended, p. 234, � 6, effective July 1. L. 2006: (c) amended, p. 496, � 26, effective September 1. L. 2007: (c) amended, p. 375, � 28, effective August 3.