Colorado § 4-9-304 - Law governing perfection and priority of security interests in deposit accounts.
Full text of Colorado Colorado Revised Statutes § 4-9-304 — Law governing perfection and priority of security interests in deposit accounts., with citation guidance and answers to common questions.
§ 4-9-304. Law governing perfection and priority of security interests in deposit accounts.
(a) The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank even if the transaction does not bear any relation to the bank's jurisdiction.
(b) The following rules determine a bank's jurisdiction for purposes of this part 3:
(1) If an agreement between the bank and its customer governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for purposes of this part 3, this article, or this title, that jurisdiction is the bank's jurisdiction.
(2) If paragraph (1) of this subsection (b) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank's jurisdiction.
(3) If neither paragraph (1) nor paragraph (2) of this subsection (b) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank's jurisdiction.
(4) If none of paragraphs (1), (2), and (3) of this subsection (b) applies, the bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located.
(5) If none of paragraphs (1), (2), (3), and (4) of this subsection (b) applies, the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.
Source: L. 2001: Entire article R&RE, p. 1343, § 1, effective July 1. L. 2002: (b)(1) amended, p. 938, § 3, effective August 7. L. 2023: (a) amended, (SB 23-090), ch. 136, p. 550, § 53, effective August 7.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 4-9-304
What does Colorado Revised Statutes § 4-9-304 cover?
Section 4-9-304 ("Law governing perfection and priority of security interests in deposit accounts.") 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 § 4-9-304?
A common citation format is "Colorado Revised Statutes § 4-9-304" (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 § 4-9-304 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.