Colorado § 4-4-301 - Deferred posting - recovery of payment by return of items - time of dishonor - return of items by payor bank.
Full text of Colorado Colorado Revised Statutes § 4-4-301 — Deferred posting - recovery of payment by return of items - time of dishonor - return of items by payor bank., with citation guidance and answers to common questions.
§ 4-4-301. Deferred posting - recovery of payment by return of items - time of dishonor - return of items by payor bank.
(a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover the settlement if, before it has made final payment and before its midnight deadline, it:
(1) Returns the item; or
(2) Sends written notice of dishonor or nonpayment if the item is unavailable for return.
(b) If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and may revoke any credit given or recover the amount thereof withdrawn by its customer, if it acts within the time limit and in the manner specified in subsection (a) of this section.
(c) Unless previous notice of dishonor has been sent, an item is dishonored at the time when for the purposes of dishonor it is returned or notice sent in accordance with this section.
(d) An item is returned:
(1) As to an item presented through a clearing house, when it is delivered to the presenting or last collecting bank or to the clearing house or is sent or delivered in accordance with clearing-house rules; or
(2) In all other cases, when it is sent or delivered to the bank's customer or transferor or pursuant to instructions.
Source: L. 94: Entire article amended with relocations, p. 897, § 2, effective January 1, 1995.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 4-4-301
What does Colorado Revised Statutes § 4-4-301 cover?
Section 4-4-301 ("Deferred posting - recovery of payment by return of items - time of dishonor - return of items by payor bank.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 4-4-301?
A common citation format is "Colorado Revised Statutes § 4-4-301" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 4-4-301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.