Colorado § 4-4.5-201 - Security procedure.
Full text of Colorado Colorado Revised Statutes § 4-4.5-201 — Security procedure., with citation guidance and answers to common questions.
§ 4-4.5-201. Security procedure.
"Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment order or communication amending or canceling a payment order is that of the customer or (ii) detecting error in the transmission or the content of the payment order or communication. A security procedure may impose an obligation on the receiving bank or the customer and may require the use of algorithms or other codes, identifying words, numbers, symbols, sounds, biometrics, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer or requiring a payment order to be sent from a known email address, IP address, or telephone number is not by itself a security procedure.
Source: L. 90: Entire article added, p. 345, § 1, effective January 1, 1991. L. 2023: Entire section amended, (SB 23-090), ch. 136, p. 532, § 25, effective August 7.
Frequently Asked Questions About Colorado § 4-4.5-201
What does Colorado Revised Statutes § 4-4.5-201 cover?
Section 4-4.5-201 ("Security procedure.") 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 § 4-4.5-201?
A common citation format is "Colorado Revised Statutes § 4-4.5-201" (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 § 4-4.5-201 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.