Colo. Rev. Stat. § 4-3-408

Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session

Section 4-3-408 - Drawee not liable on unaccepted draft

A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.

C.R.S. § 4-3-408

L. 94: Entire article R&RE, p. 865, § 1, effective 1/1/1995.

This section is similar to former § 4-3-409 as it existed prior to 1994.