reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-509 - Persons entitled to file a record

(a)
A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:
(1)
The debtor authorizes the filing in a signed record or pursuant to subsection (b) or (c) of this section; or
(2)
The person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(b)
By signing or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:
(1)
The collateral described in the security agreement; and
(2)
Property that becomes collateral under section
4-9-315 (a)(2)
, whether or not the security agreement expressly covers proceeds.
(c)
By acquiring collateral in which a security interest or agricultural lien continues under section
4-9-315 (a)(1)
, a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under section
4-9-315 (a)(2)
.
(d)
A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:
(1)
The secured party of record authorizes the filing; or
(2)
The amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by section
4-9-513 (a) or (c)
, the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
(e)
If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d) of this section.
Amended by 2023 Ch. 136,§ 74, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1383, § 1, effective July 1.
Colorado legislative change:
Colorado added the phrase "or pursuant to subsection (b) or (c) of this section" to subsection (a)(1).
2023 Ch. 136, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-510 - Effectiveness of filed record

(a)
A filed record is effective only to the extent that it was filed by a person that may file it under section
4-9-509
.
(b)
A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record.
(c)
Subject to section
4-9-528
and subsection (d) of this section, a continuation statement that is not filed within the six-month period prescribed by section
4-9-515(d)
is ineffective.
(d)
Any continuation statement filed on or after July 1, 1996, and before January 1, 1998, including one that was perfected by filing with both the offices of the secretary of state and a county clerk and recorder, continues the perfection in all of the collateral listed on the filing. With respect to continuation statements filed on or after July 1, 1996, and before January 1, 1998, the filing of a single continuation statement shall maintain the effectiveness of financing statements that name identical collateral but have been filed in multiple locations.
(e)
No continuation statement filed on or after July 1, 1995, shall be ineffective solely because it failed to include a statement that the original financing statement is still effective.
L. 2001: Entire article R&RE, p. 1383, § 1, effective July 1.
Colorado legislative change:
Colorado added the phrase "Subject to section
4-9-528
and subsection (d) of this section," to subsection (c) and added subsections (d) and (e).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-511 - Secured party of record

(a)
A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under section
4-9-514(a)
, the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b)
If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under section
4-9-514(b)
, the assignee named in the amendment is a secured party of record.
(c)
A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.
L. 2001: Entire article R&RE, p. 1384, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-512 - Amendment of financing statement

(a)
Subject to section
4-9-509
, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that:
(1)
Identifies, by file number, the initial financing statement to which the amendment relates; and
(2)
Provides the date that the initial financing statement was filed or recorded.
(b)
Except as otherwise provided in section
4-9-515
, the filing of an amendment does not extend the period of effectiveness of the financing statement.
(c)
A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.
(d)
A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.
(e)
An amendment is ineffective to the extent it:
(1)
Purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
(2)
Purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
L. 2001: Entire article R&RE, p. 1384, § 1, effective July 1.
(1) This section is similar to former § 4-9-402 (4) as it existed prior to 2001.
(2)
Colorado legislative change:
Subsection (a)(2) of the uniform act states: "if the amendment relates to an initial financing statement filed [or recorded] in a filing office described in Section 9-501(a)(1), provides the date and time that the initial financing statement was filed or recorded and the information specified in Section 9-502 (b)."
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-513 - Termination statement

(a)
A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:
(1)
There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2)
The debtor did not authorize the filing of the initial financing statement.
(b)
To comply with subsection (a) of this section, a secured party shall cause the secured party of record to file the termination statement:
(1)
Within one month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2)
If earlier, within twenty days after the secured party receives a signed demand from a debtor.
(c)
In cases not governed by subsection (a) of this section, within twenty days after a secured party receives a signed demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:
(1)
Except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
(2)
The financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(3)
The financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or
(4)
The debtor did not authorize the filing of the initial financing statement.
(d)
Except as otherwise provided in section
4-9-510
, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in section
4-9-510
, for purposes of sections
4-9-519 (g)
,
4-9-522 (a)
, and
4-9-523 (c)
, the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
Amended by 2023 Ch. 136,§ 75, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1385, § 1, effective July 1.
(1) This section is similar to former § 4-9-404 as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado added the last sentence of subsection (d).
2023 Ch. 136, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-514 - Assignment of powers of secured party of record

(a)
Except as otherwise provided in subsection (c) of this section, an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(b)
Except as otherwise provided in subsection (c) of this section, a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement that:
(1)
Identifies, by its file number, the initial financing statement to which it relates;
(1.5)
Provides the date that the initial financing statement was filed or recorded;
(2)
Provides the name of the assignor; and
(3)
Provides the name and mailing address of the assignee.
(c)
An assignment of record of a security interest in a fixture covered by a record of a mortgage which is effective as a financing statement filed as a fixture filing under section
4-9-502(c)
may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than this title.
(d)
An assignment that was filed in accordance with this section prior to August 5, 2009, and that is on file in the filing office as of August 5, 2009, whether or not it provides the date that the initial financing statement was filed or recorded, shall be deemed to have been filed pursuant to and in accordance with this section as amended and shall have the same effect as if filed pursuant to this section as amended.
L. 2001: Entire article R&RE, p. 1386, § 1, effective July 1. L. 2009: IP(b) and (b)(2) amended and (b)(1.5) and (d) added, (SB 09-084), ch. 141, p. 602, §§ 1, 2, effective August 5.
(1) This section is similar to former § 4-9-405 as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado added the phrase "and the name of one of the debtors" to subsection (b)(2).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-517 - Effect of indexing errors

The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record.
L. 2001: Entire article R&RE, p. 1389, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-518 - Claim concerning inaccurate or wrongfully filed record

(a)
(1)
Any person named as a debtor may file in the filing office an information statement with respect to a record indexed there under the debtor's name if the person believes that the record is inaccurate or was wrongfully filed.
(2) and (3)
Repealed.
(b)
An information statement under subsection (a) of this section must:
(1)
Identify the record to which it relates by:
(A)
The file number assigned to the initial financing statement to which the record relates; and
(B)
If the information statement relates to a record filed or recorded in a filing office described in section
4-9-501 (a)(1)
, the date that the initial financing statement was filed or recorded;
(2)
Indicate that it is an information statement; and
(3)
Provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.
(c)
A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under section
4-9-509 (d)
.
(d)
An information statement under subsection (c) of this section must:
(1)
Identify the record to which it relates by:
(A)
The file number assigned to the initial financing statement to which the record relates; and
(B)
If the information statement relates to a record filed or recorded in a filing office described in section
4-9-501 (a)(1)
, the date that the initial financing statement was filed or recorded;
(2)
Indicate that it is an information statement; and
(3)
Provide the basis for the person's belief that the person that filed the record was not entitled to do so under section
4-9-509 (d)
.
(e)
The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
(f)
Repealed.
Amended by 2013 Ch. 379, §2, eff. 7/1/2013.
L. 2001: Entire article R&RE, p. 1389, § 1, effective July 1. L. 2008: (a) amended and (d) added, p. 266, § 1, effective August 5. L. 2010: (a)(2) amended, (HB 10 -1422), ch. 419, p. 2063, §6, effective August 11. L. 2012: Entire section amended, (HB 12-1262), ch. 170, p. 603, § 14, effective 7/1/2013. L. 2013: (a)(2), (a)(3), and (f) repealed, (HB 13-1284), ch. 379, p. 2222, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-520 - Acceptance and refusal to accept record

(a)
A filing office shall refuse to accept a record for filing for a reason set forth in section
4-9-516(b)
and may refuse to accept a record for filing only for a reason set forth in section
4-9-516(b)
.
(b)
If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing-office rule but in no event more than five business days after the filing office receives the record.
(c)
A filed financing statement satisfying section
4-9-502(a) and (b)
is effective, even if the filing office is required to refuse to accept it for filing under subsection (a) of this section. However, section
4-9-338
applies to a filed financing statement providing information described in section
4-9-516(b)(5)
which is incorrect at the time the financing statement is filed.
(d)
If a record communicated to a filing office provides information that relates to more than one debtor, this part 5 applies as to each debtor separately.
L. 2001: Entire article R&RE, p. 1391, § 1, effective July 1.
Colorado legislative change:
In subsection (b), Colorado did not adopt the phrase "in the case of a filing office described in section
4-9-501(a)(2)
," after the word "but" and changed "two" to "five".
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-521 - Uniform form of written financing statement and amendment

(a)
A filing office that accepts written records may not refuse to accept a written initial financing statement in the form and format adopted from time to time by the secretary of state, except for a reason set forth in section
4-9-516(b)
.
(b)
A filing office that accepts written records may not refuse to accept a written record in the form and format adopted from time to time by the secretary of state, except for a reason set forth in section
4-9-516(b)
.
L. 2001: Entire article R&RE, p. 1392, § 1, effective July 1.
Colorado legislative change:
Colorado substituted the phrase "form and format adopted from time to time by the secretary of state," for the phrase "following form and format" in subsections (a) and (b).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-522 - Maintenance and destruction of records

(a)
The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under section
4-9-515
with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and the file number assigned to the initial financing statement to which the record relates and the date that the record was filed or recorded.
(b)
Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (a) of this section.
L. 2001: Entire article R&RE, p. 1392, § 1, effective July 1.
(1) This section is similar to former § 4-9-403 (3) as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado did not adopt the phrase "by using" after the phrase "debtor and" and added the phrase "and the date that the record was filed or recorded" in subsection (a).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-524 - Delay by filing office

Delay by the filing office beyond a time limit prescribed by this part 5 is excused if:
(1)
The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; and
(2)
The filing office exercises reasonable diligence under the circumstances.
L. 2001: Entire article R&RE, p. 1393, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-525 - Fees

(a)
Except as otherwise provided in subsection (f) of this section and subject to section
24-75-402
, C.R.S., fees for services rendered by the secretary of state under this part 5 shall be determined and collected pursuant to section
24-21-104
, C.R.S.
(b)
Except as otherwise provided in subsection (f) of this section, the fee for filing and indexing a record under this part 5 in a filing office described in section
4-9-501(a)(1)
shall not exceed:
(1)
Ten dollars if the record is communicated in writing and consists of one or two pages;
(2)
Fifteen dollars if the record is communicated in writing and consists of more than two pages; and
(3)
Five dollars if the record is communicated by another medium authorized by filing-office rule.
(c)
The number of names required to be indexed does not affect the amount of the fee in subsections (a) and (b) of this section.
(d)
The secretary of state must set the fee for responding to a request for information from the secretary of state, including the fee for issuing a certificate showing whether there is on file any financing statement naming a particular debtor. The secretary of state need not set a fee for remote access to the secretary of state's data base.
(e)
The fee for responding to a request for information from a filing office described in section
4-9-501(a)(1)
, including for issuing a certificate showing whether there is on file any financing statement naming a particular debtor, shall not exceed:
(1)
Five dollars if the request is communicated in writing; and
(2)
Three dollars if the request is communicated by another medium authorized by filing-office rule.
(f)
This section does not require a fee with respect to a record of a mortgage which is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under section
4-9-502(c)
. However, the recording and satisfaction fees that otherwise would be applicable to the record of the mortgage apply.
L. 2001: Entire article R&RE, p. 1393, § 1, effective July 1. L. 2008: (a) amended, p. 267, § 3, effective August 5.
Colorado legislative change:
This section contains numerous alterations from the uniform act.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-526 - Filing-office rules

(a)
The secretary of state shall adopt and publish rules to implement this article. The filing-office rules must be:
(1)
Consistent with this article; and
(2)
Adopted and published in accordance with the "State Administrative Procedure Act", article
4
of title
24
, C.R.S.
(b)
To keep the filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially this part 5, and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions that enact substantially this part 5, the secretary of state, so far as is consistent with the purposes, policies, and provisions of this article, in adopting, amending, and repealing filing-office rules, shall:
(1)
Consult with filing offices in other jurisdictions that enact substantially this part 5; and
(2)
Consult the most recent version of the model rules promulgated by the international association of commercial administrators or any successor organization; and
(3)
Take into consideration the rules and practices of, and the technology used by, filing offices in other jurisdictions that enact substantially this part 5.
L. 2001: Entire article R&RE, p. 1394, § 1, effective July 1. L. 2008: (b)(2) amended, p. 267, § 4, effective August 5.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-527 - [Repealed]

Repealed by 2017 Ch. 75,§1, eff. 3/23/2017.
L. 2001: Entire article R&RE, p. 1395, § 1, effective July 1. L. 2008: (2) amended, p. 267, § 5, effective August 5. L. 2017: Entire section repealed, (HB 17-1133), ch. 75, p. 236, § 1, effective March 23.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-528 - Refiling required

(a)
(1)
The effectiveness of a financing statement that was filed before July 1, 1996, and that has not otherwise lapsed by December 31, 1997, shall lapse in the manner provided in section
4-9-403(2)
of former article
9
of this title on December 31, 1997, unless a continuation statement was filed on or after July 1, 1996, but on or before December 31, 1997, that identified the original statement by filing office, file number, and date of filing and contains a statement indicating the types or describing the items of collateral indicated in the financing statement. If a continuation statement was filed in accordance with this paragraph (1), the effectiveness of the original financing statement is continued for five years after the last date to which the filing would otherwise have been effective, whereupon it lapses in the manner provided in section
4-9-515
unless another continuation statement is filed pursuant to section
4-9-515
prior to such lapse.
(2)
No continuation statement filed pursuant to this subsection (a) on or after July 1, 1996, shall be ineffective solely because it:
(A)
Failed to identify the original statement by county, if the filing office was the office of the secretary of state and the statement so stated, or by time of filing;
(B)
Indicated the types or described the items of the collateral indicated in the financing statement instead of listing the collateral of the original filing; or
(C)
Failed to include a statement that the original financing statement is still effective.
(b)
For purposes of the refiling provisions of this section only, a continuation statement does not have to be filed during the period beginning July 1, 1996, to December 31, 1997, when the only collateral on a financing statement is timber to be cut; minerals or other substances of value which may be extracted from the earth; fixtures; a mortgage or deed of trust effective as a fixture filing; collateral, including fixtures, of a transmitting utility; or accounts subject to section
4-9-103(5)
of former article
9
of this title.
(c)
References in this section to "former article
9
of this title" are to article
9
of this title as in effect immediately before July 1, 2001.
L. 2001: Entire article R&RE, p. 1395, § 1, effective July 1.
Colorado legislative change:
Colorado added this section.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-529 - Electronic and other filings

(a)
(Deleted by amendment, L. 2008, p. 268, § 6.)
(b)
The secretary of state shall ensure that presentation for filing may be accomplished electronically, without the necessity for the presentation of a physical original document or the image thereof, if all required information is included and readily retrievable from the data transmitted. All electronic filings shall be retained in a form that facilitates location of the information so filed and production of a true and accurate physical printout or other representation of the information so filed.
(c)
The secretary of state is hereby specifically authorized to establish prepaid accounts, an electronic debit system, a system for the acceptance of credit cards or electronic funds transfers, or any combination thereof.
(d)
To facilitate the filing of documents in the office of the secretary of state electronically, the secretary of state is hereby specifically authorized to adopt, by rule, technical standards governing such filings and to reject documents that do not comply with such standards. Such standards may include, without limitation, the specification of commercially available software or the dissemination of software compatible with the secretary of state's reception, storage, and retrieval system. Where national standards are available and have been promulgated by a recognized professional organization, the secretary of state shall consider and may use such national standards as the basis for the rules.
(e)
(Deleted by amendment, L. 2008, p. 268, § 6.)
L. 2001: Entire article R&RE, p. 1396, § 1, effective July 1. L. 2008: (a), (d), and (e) amended, p. 268, § 6, effective 2/29/2012.
Colorado legislative change:
Colorado added this section.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-530 - [Repealed]

L. 2001: Entire article R&RE, p. 1397, § 1, effective July 1. L. 2002: Entire section repealed, p. 938, § 7, effective August 7.
Colorado legislative change:
Colorado added this section.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 5 - FILING (§§ 4-9-501 — 4-9-531) › Section 4-9-531 - Removal of social security numbers from financing statements in the custody of the secretary of state

(a)
As soon as feasible, but no later than July 1, 2003, the secretary of state shall remove social security numbers from the publicly accessible electronic records of all financing statements in the custody of the secretary that were filed with a filing office on or after April 6, 1989, and before July 1, 2001, pursuant to repealed provisions of this article that required that any such financing statement contain a social security number.
(b)
A financing statement from which the secretary of state removes a social security number pursuant to subsection (a) of this section shall not be rendered insufficient or ineffective by such removal.
(c)
Repealed.
L. 2002: Entire section added, p. 661, § 1, effective May 28. L. 2009: (c) repealed, (SB 09-283), ch. 336, p. 1779, §2, effective June 1.
Section 3 of chapter 336, Session Laws of Colorado 2009, provides that the act repealing subsection (c) applies to any secured transaction record in the possession of the secretary of state before, on, or after June 1, 2009.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-601 - Rights after default - judicial enforcement - consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes

(a)
After default, a secured party has the rights provided in this part 6 and, except as otherwise provided in section
4-9-602
, those provided by agreement of the parties. A secured party:
(1)
May reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure; and
(2)
If the collateral is documents, may proceed either as to the documents or as to the goods they cover.
(b)
A secured party in possession of collateral or control of collateral under section
4-7-106
,
4-9-104
,
4-9-105
,
4-9-106
,
4-9-107
, or
4-9-107.5
has the rights and duties provided in section
4-9-207
.
(c)
The rights under subsections (a) and (b) of this section are cumulative and may be exercised simultaneously.
(d)
Except as otherwise provided in subsection (g) of this section and section
4-9-605
, after default, a debtor and an obligor have the rights provided in this part 6 and by agreement of the parties.
(e)
If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
(1)
The date of perfection of the security interest or agricultural lien in the collateral;
(2)
The date of filing a financing statement covering the collateral; or
(3)
Any date specified in a statute under which the agricultural lien was created.
(f)
A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this article.
(g)
Except as otherwise provided in section
4-9-607 (c)
, this part 6 imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
(h)
For purposes of this part 6, in taking possession of collateral by self-help, "breach of the peace" includes, but is not limited to, engaging in the following actions without the contemporaneous permission of the debtor:
(1)
Entering a locked or unlocked residence or residential garage;
(2)
Breaking, opening, or moving any lock, gate, or other barrier to enter enclosed real property; or
(3)
Using or threatening to use violent means.
Amended by 2023 Ch. 136,§ 76, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1397, § 1, effective July 1. L. 2006: (b) amended, p. 503, § 44, effective September 1.
(1) This section is similar to former § 4-9-501 as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado added subsection (h).
2023 Ch. 136, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-602 - Waiver and variance of rights and duties

Except as otherwise provided in section
4-9-624
, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections:
(1)
Section
4-9-207(b)(4)(C)
, which deals with use and operation of the collateral by the secured party;
(2)
Section
4-9-210
, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3)
Section
4-9-607(c)
, which deals with collection and enforcement of collateral;
(4)
Sections
4-9-608(a)
and
4-9-615(c)
to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5)
Sections
4-9-608(a)
and
4-9-615(d)
to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6)
Section
4-9-609
to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(7)
Sections
4-9-610(b)
,
4-9-611
,
4-9-613
, and
4-9-614
, which deal with disposition of collateral;
(8)
Section
4-9-615(f)
, which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(9)
Section
4-9-616
, which deals with explanation of the calculation of a surplus or deficiency;
(10)
Section
4-9-620
,
4-9-621
, and
4-9-622
, which deal with acceptance of collateral in satisfaction of obligation;
(11)
Section
4-9-623
, which deals with redemption of collateral;
(12)
Section
4-9-624
, which deals with permissible waivers; and
(13)
Sections
4-9-625
and
4-9-626
, which deal with the secured party's liability for failure to comply with this article.
L. 2001: Entire article R&RE, p. 1398, § 1, effective July 1.
This section is similar to former § 4-9-501 (3) as it existed prior to 2001.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-603 - Agreement on standards concerning rights and duties

(a)
The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in section
4-9-602
if the standards are not unreasonable.
(b)
Subsection (a) of this section does not empower the parties to set standards affecting the duty under section
4-9-609
to refrain from breaching the peace.
L. 2001: Entire article R&RE, p. 1399, § 1, effective July 1.
(1) This section is similar to former § 4-9-501 (3) as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado did not adopt the word "manifestly" before the word "unreasonable" in subsection (a) and substituted the phrase "empower the parties to set standards affecting" for the phrase "apply to" in subsection (b).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-604 - Procedure if security agreement covers real property or fixtures

(a)
If a security agreement covers both personal and real property, a secured party may proceed:
(1)
Under this part 6 as to the personal property without prejudicing any rights with respect to the real property; or
(2)
As to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this part 6 do not apply.
(b)
Subject to subsection (c) of this section, if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(1)
Under this part 6; or
(2)
In accordance with the rights with respect to real property, in which case the other provisions of this part 6 do not apply.
(c)
Subject to the other provisions of this part 6, if a secured party holding a security interest in fixtures has priority over all owners and encumbrancers of the real property, the secured party, after default, may remove the collateral from the real property.
(d)
A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property for the cost of repair of any physical injury caused by the removal. The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.
L. 2001: Entire article R&RE, p. 1400, § 1, effective July 1.
(1) The provisions of this section are similar to former §§ 4-9-313 (8) and 4-9-501 (4) as they existed prior to 2001.
(2)
Colorado legislative change:
Colorado did not adopt the phrase "other than the debtor" after the word "property" in the first sentence in subsection (d).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-605 - Unknown debtor or secondary obligor

(a)
Except as provided in subsection (b) of this section, a secured party does not owe a duty based on its status as secured party:
(1)
To a person that is a debtor or obligor, unless the secured party knows:
(A)
That the person is a debtor or obligor;
(B)
The identity of the person; and
(C)
How to communicate with the person; or
(2)
To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
(A)
That the person is a debtor; and
(B)
The identity of the person.
(b)
A secured party owes a duty based on its status as a secured party to a person if, at the time the secured party obtains control of collateral that is a controllable account, controllable electronic record, or controllable payment intangible or at the time the security interest attaches to the collateral, whichever is later:
(1)
The person is a debtor or obligor; and
(2)
The secured party knows that the information in subsection (a)(1)(A), (a)(1)(B), or (a)(1)(C) of this section relating to the person is not provided by the collateral, a record attached to or logically associated with the collateral, or the system in which the collateral is recorded.
Amended by 2023 Ch. 136,§ 77, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1400, § 1, effective July 1.
2023 Ch. 136, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-606 - Time of default for agricultural lien

For purposes of this part 6, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
L. 2001: Entire article R&RE, p. 1401, § 1, effective July 1.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-607 - Collection and enforcement by secured party

(a)
If so agreed, and in any event after default, a secured party:
(1)
May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party;
(2)
May take any proceeds to which the secured party is entitled under section
4-9-315
;
(3)
May enforce the obligations of an account debtor or other person obligated on collateral and exercise the rights of the debtor with respect to the obligation of the account debtor or other person obligated on collateral to make payment or otherwise render performance to the debtor, and with respect to any property that secures the obligations of the account debtor or other person obligated on the collateral;
(4)
If it holds a security interest in a deposit account perfected by control under section
4-9-104 (a)(1)
, may apply the balance of the deposit account to the obligation secured by the deposit account; and
(5)
If it holds a security interest in a deposit account perfected by control under section
4-9-104 (a)(2) or (3)
, may instruct the bank to pay the balance of the deposit account to or for the benefit of the secured party.
(b)
If necessary to enable a secured party to exercise under paragraph (3) of subsection (a) of this section the right of a debtor to enforce a mortgage nonjudicially, the secured party may record in the office in which a record of the mortgage is recorded:
(1)
A copy of the security agreement that creates or provides for a security interest in the obligation secured by the mortgage; and
(2)
The secured party's sworn affidavit in recordable form stating that:
(A)
A default has occurred with respect to the obligation secured by the mortgage; and
(B)
The secured party is entitled to enforce the mortgage nonjudicially.
(c)
A secured party shall proceed in a commercially reasonable manner if the secured party:
(1)
Undertakes to collect from or enforce an obligation of an account debtor or other person obligated on collateral; and
(2)
Is entitled to charge back uncollected collateral or otherwise to full or limited recourse against the debtor or a secondary obligor.
(d)
A secured party may deduct from the collections made pursuant to subsection (c) of this section reasonable expenses of collection and enforcement, including reasonable attorney's fees and reasonable legal expenses incurred by the secured party.
(e)
This section does not determine whether an account debtor, bank, or other person obligated on collateral owes a duty to a secured party.
L. 2001: Entire article R&RE, p. 1401, § 1, effective July 1. L. 2012: (b)(2)(A) amended, (HB 12-1262), ch. 170, p. 604, § 15, effective 7/1/2013.
This section is similar to former § 4-9-502 as it existed prior to 2001.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9 - SECURED TRANSACTIONS (§§ 4-9-101 — 4-9-809) › Part 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-608 - Application of proceeds of collection or enforcement - liability for deficiency and right to surplus

(a)
If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply:
(1)
A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under section
4-9-607
in the following order to:
(A)
The reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and reasonable legal expenses incurred by the secured party;
(B)
The satisfaction of obligations secured by the security interest or agricultural lien under which the collection or enforcement is made; and
(C)
The satisfaction of obligations secured by any subordinate security interest in or other lien on the collateral subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party receives a signed demand for proceeds before distribution of the proceeds is completed.
(2)
If requested by a secured party, a holder of a subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time. Unless the holder complies, the secured party need not comply with the holder's demand under subparagraph (C) of paragraph (1) of this subsection (a).
(3)
A secured party need not apply or pay over for application noncash proceeds of collection and enforcement under section
4-9-607
unless the failure to do so would be commercially unreasonable. A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner.
(4)
A secured party shall account to and pay a debtor for any surplus, and the obligor is liable for any deficiency.
(b)
If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes, the debtor is not entitled to any surplus, and the obligor is not liable for any deficiency.
Amended by 2023 Ch. 136,§ 78, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1402, § 1, effective July 1.
Colorado legislative change:
Colorado substituted the phrase "section
4-9-607
" for the phrase "this section" in subsections (a)(1) and (a)(3) and added the word "reasonable" in subsection (a)(1)(A).
2023 Ch. 136, was passed without a safety clause. See Colo. Const. art. V, § 1(3).