Colorado Statutes
§ 4-4-213 — Medium and time of settlement by bank
(a)With respect to
settlement by a bank, the medium and time of settlement may be prescribed by
federal reserve regulations or circulars, clearing-house rules, and the like, or
agreement. In the absence of such prescription:
(1)The medium of settlement is cash or credit to an account in a federal
reserve bank of or specified by the person to receive settlement; and
(2)The time of settlement is:
(i)With respect to tender of settlement by cash, a cashier's check, or teller's
check, when the cash or check is sent or delivered;
(ii)With respect to tender of settlement by credit in an account in a federal
reserve bank, when the credit is made;
(iii)With respect to tender of settlement by a credit or debit to an account in
a bank, when the credit or debit is made or, in the cas
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Legislative History
Source: L. 94: Entire article amended with relocations, p. 892, � 2, effective
January 1, 1995.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of article§ 4-1-104
Construction against implied repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - gender§ 4-1-107
Captions§ 4-1-201
General definitions§ 4-1-202
Notice - knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - seasonableness§ 4-1-302
Variation by agreement§ 4-1-304
Obligation of good faith