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 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-609 - Secured party's right to take possession after default

(a)
After default, a secured party:
(1)
May take possession of the collateral; and
(2)
Without removal, may render equipment unusable and dispose of collateral on a debtor's premises under section
4-9-610
.
(b)
A secured party may proceed under subsection (a) of this section:
(1)
Pursuant to judicial process; or
(2)
Without judicial process, if it proceeds without breach of the peace.
(c)
If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.
(d)
If the collateral is a manufactured home, as defined in section
42-1-102
(48.8), or a trailer coach, as defined in section
42-1-102
(106), and is used and occupied by the debtor as a place of residence, the secured party may take possession of the collateral pursuant to this section without judicial process only if there is clear and convincing evidence that the debtor has vacated or abandoned the collateral or the debtor voluntarily surrenders the collateral to the secured party.
(e)
In exercising its rights under paragraph (2) of subsection (a) of this section with respect to collateral, a secured party may not disable or render unusable any computer program or other similar device embedded in the collateral if immediate injury to any person or property is a reasonably foreseeable consequence of such action. Any secured party who disables or renders unusable such a computer program or other similar device in such circumstances shall be liable in accordance with applicable rules of law to any person who sustains an injury to person or property as a reasonably foreseeable result of the secured party's action.
Amended by 2022 Ch. 421, §11, eff. 8/10/2022.
L. 2001: Entire article R&RE, p. 1403, § 1, effective July 1.
(1) This section is similar to former § 4-9-503 as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado added subsections (d) and (e).
2022 Ch. 421, 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 4-9-610 - Disposition of collateral after default

(a)
After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.
(b)
Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms.
(c)
A secured party may purchase collateral:
(1)
At a public disposition; or
(2)
At a private disposition only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations.
(d)
A contract for sale, lease, license, or other disposition includes the warranties relating to title, possession, quiet enjoyment, and the like which by operation of law accompany a voluntary disposition of property of the kind subject to the contract.
(e)
A secured party may disclaim or modify warranties under subsection (d) of this section:
(1)
In a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition; or
(2)
By communicating to the purchaser, prior to completion of the transaction, a record evidencing the contract for disposition and including an express disclaimer or modification of the warranties.
(f)
A record is sufficient to disclaim warranties under subsection (e) of this section if it indicates "There is no warranty relating to title, possession, quiet enjoyment, or the like in this disposition" or uses words of similar import.
L. 2001: Entire article R&RE, p. 1403, § 1, effective July 1.
(1) This section is similar to former § 4-9-504 as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado added the phrase "prior to completion of the transaction," to subsection (e)(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 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-612 - Timeliness of notification before disposition of collateral

(a)
Except as otherwise provided in subsection (b) of this section, whether a notification is sent within a reasonable time is a question of fact.
(b)
In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.
L. 2001: Entire article R&RE, p. 1405, § 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 4-9-617 - Rights of transferee of collateral

(a)
A secured party's disposition of collateral after default:
(1)
Transfers to a transferee for value all of the debtor's rights in the collateral;
(2)
Discharges the security interest under which the disposition is made; and
(3)
Discharges any subordinate security interest or other subordinate lien.
(b)
A transferee that acts in good faith takes free of the rights and interests described in subsection (a) of this section, even if the secured party fails to comply with this article or the requirements of any judicial proceeding.
(c)
If a transferee does not take free of the rights and interests described in subsection (a) of this section, the transferee takes the collateral subject to:
(1)
The debtor's rights in the collateral;
(2)
The security interest or agricultural lien under which the disposition is made; and
(3)
Any other security interest or other lien.
L. 2001: Entire article R&RE, p. 1412, § 1, effective July 1.
This section is similar to former § 4-9-504 (4) 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 4-9-618 - Rights and duties of certain secondary obligors

(a)
A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor:
(1)
Receives an assignment of a secured obligation from the secured party;
(2)
Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or
(3)
Is subrogated to the rights of a secured party with respect to collateral.
(b)
An assignment, transfer, or subrogation described in subsection (a) of this section:
(1)
Is not a disposition of collateral under section
4-9-610
; and
(2)
Relieves the secured party of further duties under this article.
L. 2001: Entire article R&RE, p. 1413, § 1, effective July 1.
This section is similar to former § 4-9-504 (5) 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 4-9-619 - Transfer of record or legal title

(a)
In this section, "transfer statement" means a record signed by a secured party stating:
(1)
That the debtor has defaulted in connection with an obligation secured by specified collateral;
(2)
That the secured party has exercised its post-default remedies with respect to the collateral;
(3)
That, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and
(4)
The name and mailing address of the secured party, debtor, and transferee.
(b)
A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:
(1)
Accept the transfer statement;
(2)
Promptly amend its records to reflect the transfer; and
(3)
If applicable, issue a new appropriate certificate of title in the name of the transferee.
(c)
A transfer of the record or legal title to collateral to a secured party under subsection (b) of this section or otherwise is not of itself a disposition of collateral under this article and does not of itself relieve the secured party of its duties under this article.
Amended by 2023 Ch. 136,§ 84, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1413, § 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 4-9-621 - Notification of proposal to accept collateral

(a)
A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:
(1)
Any person from which the secured party has received, before the debtor consented to the acceptance, a signed notification of a claim of an interest in the collateral;
(2)
Any other secured party or lienholder that, ten days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:
(A)
Identified the collateral;
(B)
Was indexed under the debtor's name as of that date; and
(C)
Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and
(3)
Any other secured party that, ten days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in section
4-9-311 (a)
.
(b)
A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a) of this section.
Amended by 2023 Ch. 136,§ 86, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1415, § 1, effective July 1.
This section is similar to former § 4-9-505 as it existed prior to 2001.
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 4-9-622 - Effect of acceptance of collateral

(a)
A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures:
(1)
Discharges the obligation to the extent consented to by the debtor;
(2)
Transfers to the secured party all of a debtor's rights in the collateral;
(3)
Discharges the security interest or agricultural lien that is the subject of the debtor's consent and any subordinate security interest or other subordinate lien; and
(4)
Terminates any other subordinate interest.
(b)
A subordinate interest is discharged or terminated under subsection (a) of this section, even if the secured party fails to comply with this article.
L. 2001: Entire article R&RE, p. 1416, § 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 4-9-623 - Right to redeem collateral

(a)
A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(b)
To redeem collateral, a person shall tender:
(1)
Fulfillment of all obligations secured by the collateral; and
(2)
The reasonable expenses and reasonable attorney's fees described in section
4-9-615(a)(1)
.
(c)
A redemption may occur at any time before a secured party:
(1)
Has collected collateral under section
4-9-607
;
(2)
Has disposed of collateral or entered into a contract for its disposition under section
4-9-610
; or
(3)
Has accepted collateral in full or partial satisfaction of the obligation it secures under section
4-9-622
.
L. 2001: Entire article R&RE, p. 1416, § 1, effective July 1.
(1) This section is similar to former § 4-9-506 as it existed prior to 2001.
(2)
Colorado legislative change:
Colorado added the word "reasonable" before the word "attorney's" in 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 6 - DEFAULT (§§ 4-9-601 — 4-9-629) › Section 4-9-624 - Waiver

(a)
A debtor or secondary obligor may waive the right to notification of disposition of collateral under section
4-9-611
only by an agreement to that effect entered into and signed after default.
(b)
A debtor may waive the right to require disposition of collateral under section
4-9-620 (e)
only by an agreement to that effect entered into and signed after default.
(c)
Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under section
4-9-623
. Any such waiver must be by an agreement to that effect entered into and signed after default.
Amended by 2023 Ch. 136,§ 87, eff. 8/7/2023.
L. 2001: Entire article R&RE, p. 1417, § 1, effective July 1.
(1) The provisions of this section are similar to provisions of several former sections as they existed prior to 2001.
(2)
Colorado legislative change:
Colorado added the phrase "Any such waiver must be" in subsection (c).
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 4-9-626 - Action in which deficiency or surplus is in issue

(a)
In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply:
(1)
A secured party need not prove compliance with the provisions of this part 6 relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party's compliance in issue.
(2)
If the secured party's compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this part 6.
(3)
Except as otherwise provided in section
4-9-628
, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this part 6 relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, reasonable expenses, and reasonable attorney's fees exceeds the greater of:
(A)
The proceeds of the collection, enforcement, disposition, or acceptance; or
(B)
The amount of proceeds that would have been realized had the noncomplying secured party proceeded in accordance with the provisions of this part 6 relating to collection, enforcement, disposition, or acceptance.
(4)
For purposes of subparagraph (B) of paragraph (3) of this subsection (a), the amount of proceeds that would have been realized is equal to the sum of the secured obligation, reasonable expenses, and reasonable attorney's fees unless the secured party proves that the amount is less than that sum.
(5)
If a deficiency or surplus is calculated under section
4-9-615(f)
, the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.
(b)
Subject to section
5-5-103
, C.R.S., the limitation of the rules in subsection (a) of this section to transactions other than consumer transactions is intended to leave to the court the determination of the proper rules in consumer transactions. The court may not infer from that limitation the nature of the proper rule in consumer transactions and may continue to apply established approaches.
L. 2001: Entire article R&RE, p. 1419, § 1, effective July 1.
Colorado legislative change:
Colorado added the word "reasonable" to subsections (a)(3) and (a)(4) and added the phrase "Subject to section
5-5-103
, C.R.S.," to 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 4-9-627 - Determination of whether conduct was commercially reasonable

(a)
The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner.
(b)
A disposition of collateral is made in a commercially reasonable manner if the disposition is made:
(1)
In the usual manner on any recognized market;
(2)
At the price current in any recognized market at the time of the disposition; or
(3)
Otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.
(c)
A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved:
(1)
In a judicial proceeding;
(2)
By a bona fide creditors' committee;
(3)
By a representative of creditors; or
(4)
By an assignee for the benefit of creditors.
(d)
Approval under subsection (c) of this section need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.
L. 2001: Entire article R&RE, p. 1420, § 1, effective July 1.
This section is similar to former § 4-9-507 (2) 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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-701 - Effective date

This act takes effect on July 1, 2001. References in this part 7 to "this act" refer to the repealed and reenacted article
9
of this title as contained in Senate Bill 01-240, enacted at the first regular session of the sixty-third general assembly. References in this part 7 to "former article 9" are to article
9
of this title as in effect immediately before July 1, 2001.
L. 2001: Entire article R&RE, p. 1423, § 1, effective July 1.
Colorado legislative change:
The uniform act (e) states: "This act takes effect on July 1, 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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-702 - Saving clause

(a)
Except as otherwise provided in this part 7, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001.
(b)
Except as otherwise provided in subsection (c) of this section and sections
4-9-703
to
4-9-710
:
(1)
Transactions and liens that were not governed by former article 9, were validly entered into or created before July 1, 2001, and would be subject to this act if they had been entered into or created on or after July 1, 2001, and the rights, duties, and interests flowing from those transactions and liens remain valid on or after July 1, 2001; and
(2)
The transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this act or by the law that otherwise would apply if this act had not taken effect.
(c)
This act does not affect an action, case, or proceeding commenced before July 1, 2001.
L. 2001: Entire article R&RE, p. 1423, § 1, effective July 1. L. 2002: IP(b) amended, p. 940, § 11, effective August 7.
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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-703 - Security interest perfected before effective date

(a)
A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if, on July 1, 2001, the applicable requirements for enforceability and perfection under this act are satisfied without further action.
(b)
Except as otherwise provided in section
4-9-705
, if, immediately before July 1, 2001, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this act are not satisfied on July 1, 2001, the security interest:
(1)
Is a perfected security interest for one year after July 1, 2001;
(2)
Remains enforceable after June 30, 2002, only if the security interest becomes enforceable under section
4-9-203
before July 1, 2002; and
(3)
Remains perfected after June 30, 2002, only if the applicable requirements for perfection under this act are satisfied before July 1, 2002.
(c)
Notwithstanding subsections (a) and (b) of this section, a lien, pledge, or security interest granted by a governmental unit prior to July 1, 2001, that is enforceable immediately before July 1, 2001, and that would have priority over the rights of a person that becomes a lien creditor at that time, shall remain enforceable and continue to have such priority on or after July 1, 2001.
L. 2001: Entire article R&RE, p. 1423, § 1, effective July 1.
Colorado legislative change:
Colorado added subsection (c).
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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-704 - Security interest unperfected before effective date

A security interest that is enforceable immediately before July 1, 2001, but that would be subordinate to the rights of a person that becomes a lien creditor at that time:
(1)
Remains an enforceable security interest for one year after July 1, 2001;
(2)
Remains enforceable after June 30, 2002, only if the security interest becomes enforceable under section
4-9-203
on or before June 30, 2002; and
(3)
Becomes perfected:
(A)
Without further action, on July 1, 2001, if the applicable requirements for perfection under this act are satisfied on or before July 1, 2001; or
(B)
When the applicable requirements for perfection are satisfied if the requirements are satisfied after July 1, 2001.
L. 2001: Entire article R&RE, p. 1424, § 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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-705 - Effectiveness of action taken before effective date

(a)
If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable before July 1, 2001, the action is effective to perfect a security interest that attaches under this act on or before June 30, 2002. An attached security interest becomes unperfected on July 1, 2002, unless the security interest becomes a perfected security interest under this act on or before June 30, 2002.
(b)
The filing of a financing statement before July 1, 2001, is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this act.
(c)
This act does not render ineffective an effective financing statement that, before July 1, 2001, is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in former section
4-9-103
. However, except as otherwise provided in subsections (d) and (e) of this section and section
4-9-706
, the financing statement ceases to be effective at the earlier of:
(1)
The time the financing statement would have ceased to be effective under the law of the jurisdiction in which it is filed; or
(2)
June 30, 2006.
(d)
The filing of a continuation statement after July 1, 2001, does not continue the effectiveness of the financing statement filed before said date. However, upon the timely filing of a continuation statement after July 1, 2001, and in accordance with the law of the jurisdiction governing perfection as provided in part 3 of this article, the effectiveness of a financing statement filed in the same office in that jurisdiction before said date continues for the period provided by the law of that jurisdiction.
(e)
Paragraph (2) of subsection (c) of this section applies to a financing statement that, before July 1, 2001, is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in former section
4-9-103
only to the extent that part 3 of this article provides that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.
(f)
A financing statement that includes a financing statement filed before July 1, 2001, and a continuation statement filed after said date is effective only to the extent that it satisfies the requirements of part 5 of this article for an initial financing statement.
L. 2001: Entire article R&RE, p. 1424, § 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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-706 - When initial financing statement suffices to continue effectiveness of financing statement

(a)
The filing of an initial financing statement in the office specified in section
4-9-501
continues the effectiveness of a financing statement filed before July 1, 2001, if:
(1)
The filing of an initial financing statement in that office would be effective to perfect a security interest under this act;
(2)
The pre-effective-date financing statement was filed in an office in another state, another office in this state, or in the office of any clerk and recorder in this state; and
(3)
The initial financing statement satisfies subsection (c) of this section.
(b)
The filing of an initial financing statement under subsection (a) of this section continues the effectiveness of the pre-effective-date financing statement:
(1)
If the initial financing statement is filed before July 1, 2001, for the period provided in former section
4-9-403
with respect to a financing statement; and
(2)
If the initial financing statement is filed after July 1, 2001, for the period provided in section
4-9-515
with respect to an initial financing statement.
(c)
To be effective for purposes of subsection (a) of this section, an initial financing statement must:
(1)
Satisfy the requirements of part 5 of this article for an initial financing statement;
(2)
Identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3)
Indicate that the pre-effective-date financing statement remains effective.
L. 2001: Entire article R&RE, p. 1425, § 1, effective July 1. L. 2002: (a)(2) amended, p. 940, § 12, effective August 7.
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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-707 - Amendment of pre-effective-date financing statement

(a)
As used in this part 7, "pre-effective-date financing statement" means a financing statement filed before July 1, 2001.
(b)
After July 1, 2001, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in part 3 of this article. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c)
Except as otherwise provided in subsection (d) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after July 1, 2001, only if:
(1)
The pre-effective-date financing statement and an amendment are filed in the office specified in section
4-9-501
;
(2)
An amendment is filed in the office specified in section
4-9-501
concurrently with, or after the filing in that office of, an initial financing statement that satisfies section
4-9-706(c)
; or
(3)
An initial financing statement that provides the information as amended and satisfies section
4-9-706(c)
is filed in the office specified in section
4-9-501
.
(d)
If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under section
4-9-705(d) and (f)
or
4-9-706
.
(e)
Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after July 1, 2001, by filing a termination statement in the office in which the pre-effective date financing statement is filed, unless an initial financing statement that satisfies section
4-9-706(c)
has been filed in the office specified by the law of the jurisdiction governing perfection as provided in part 3 of this article as the office in which to file a financing statement.
L. 2001: Entire article R&RE, p. 1426, § 1, effective July 1.
Colorado legislative change:
Colorado added this section; the uniform act's section 707 is codified at section
4-9-708
.
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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-708 - Persons entitled to file initial financing statement or continuation statement

A person may file an initial financing statement or a continuation statement under this part 7 if:
(1)
The secured party of record authorizes the filing; and
(2)
The filing is necessary under this part 7:
(A)
To continue the effectiveness of a financing statement filed before July 1, 2001; or
(B)
To perfect or continue the perfection of a security interest.
L. 2001: Entire article R&RE, p. 1427, § 1, effective July 1.
Colorado legislative change:
The uniform act codified this section as section 707.
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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-709 - Priority

(a)
This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former article 9 determines priority.
(b)
For purposes of section
4-9-322(a)
, the priority of a security interest that becomes enforceable under section
4-9-203
of this act dates from July 1, 2001, if the security interest is perfected under this act by the filing of a financing statement before said date which would not have been effective to perfect the security interest under former article 9. This subsection (b) does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.
L. 2001: Entire article R&RE, p. 1427, § 1, effective July 1.
Colorado legislative change:
The uniform act codified this section as section 708.
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 7 - TRANSITION (§§ 4-9-701 — 4-9-710) › Section 4-9-710 - Effectiveness of filing in clerk and recorders' offices

Except as provided in this section, a pre-effective-date financing statement filed with respect to a security interest in the office of any clerk and recorder in this state shall be treated as if it had been filed in the office of the secretary of state. The preceding sentence does not apply to a financing statement to the extent that the financing statement:
(1)
Covers timber to be cut or as-extracted collateral; or
(2)
Was filed as a fixture filing.
L. 2002: Entire section added, p. 940, § 13, effective August 7.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-801 - Effective date

House Bill 12-1262, enacted in 2012, takes effect on July 1, 2013.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 604, § 16, effective 7/1/2013.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-802 - Saving clause

(a)
Except as otherwise provided in this part 8, House Bill 12-1262, enacted in 2012, applies to a transaction or lien within its scope even if the transaction or lien was entered into or created before July 1, 2013.
(b)
House Bill 12-1262, enacted in 2012, does not affect an action, case, or proceeding commenced before July 1, 2013.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 605, § 16, effective 7/1/2013.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-803 - Security interest perfected before effective date

(a)
A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this article, as amended, if, when House Bill 12-1262, enacted in 2012, takes effect, the applicable requirements for attachment and perfection under this article, as amended by House Bill 12-1262, enacted in 2012, are satisfied without further action.
(b)
Except as otherwise provided in section
4-9-805
, which controls with respect to security interests perfected by the filing of a financing statement pursuant to part 5 of this article as it existed before July 1, 2013, if, immediately before July 1, 2013, a security interest is a perfected security interest but the applicable requirements for perfection under this article, as amended by House Bill 12-1262, enacted in 2012, are not satisfied by July 1, 2013, the security interest remains perfected thereafter only if the applicable requirements for perfection under this article, as amended by House Bill 12-1262, enacted in 2012, are satisfied within one year after July 1, 2013.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 605, § 16, effective 7/1/2013.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-804 - Security interest unperfected before effective date

(a)
A security interest that is an unperfected security interest immediately before July 1, 2013, becomes a perfected security interest:
(1)
Without further action, on July 1, 2013, if the applicable requirements for perfection under this article, as amended by House Bill 12-1262, enacted in 2012, are satisfied on or before July 1, 2013; or
(2)
When the applicable requirements for perfection are satisfied if the requirements are satisfied after July 1, 2013.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 605, § 16, effective 7/1/2013.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-806 - When initial financing statement suffices to continue effectiveness of financing statement

(a)
The filing of an initial financing statement in the office specified in section
4-9-501
continues the effectiveness of a financing statement filed before July 1, 2013, if:
(1)
The filing of an initial financing statement in that office would be effective to perfect a security interest under this article, as amended by House Bill 12-1262, enacted in 2012;
(2)
The pre-effective-date financing statement was filed in an office in another state; and
(3)
The initial financing statement satisfies subsection (c) of this section.
(b)
The filing of an initial financing statement under subsection (a) of this section continues the effectiveness of the pre-effective-date financing statement:
(1)
If the initial financing statement is filed before July 1, 2013, for the period provided in section
4-9-515
, as it existed before July 1, 2013, with respect to an initial financing statement; and
(2)
If the initial financing statement is filed after July 1, 2013, for the period provided in section
4-9-515
, as amended by House Bill 12-1262, enacted in 2012, with respect to an initial financing statement.
(c)
To be effective for purposes of subsection (a) of this section, an initial financing statement must:
(1)
Satisfy the requirements of part 5 of this article, as amended by House Bill 12-1262, enacted in 2012, for an initial financing statement;
(2)
Identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3)
Indicate that the pre-effective-date financing statement remains effective.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 607, § 16, effective 7/1/2013.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-807 - Amendment of pre-effective-date financing statement

(a)
In this section, "pre-effective-date financing statement" means a financing statement filed before July 1, 2013.
(b)
On or after July 1, 2013, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in this article, as amended by House Bill 12-1262, enacted in 2012. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c)
Except as otherwise provided in subsection (d) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended on or after July 1, 2013, only if:
(1)
The pre-effective-date financing statement and an amendment are filed in the office specified in section
4-9-501
;
(2)
An amendment is filed in the office specified in section
4-9-501
concurrently with, or after the filing in that office of, an initial financing statement that satisfies section
4-9-806 (c)
; or
(3)
An initial financing statement that provides the information as amended and satisfies section
4-9-806 (c)
is filed in the office specified in section
4-9-501
.
(d)
If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under section
4-9-805 (c) and (e)
or
4-9-806
.
(e)
Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after July 1, 2013, by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies section
4-9-806 (c)
has been filed in the office specified by the law of the jurisdiction governing perfection as provided in this article, as amended by House Bill 12-1262, enacted in 2012, as the office in which to file a financing statement.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 607, § 16, effective 7/1/2013.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-808 - Person entitled to file initial financing statement or continuation statement

(a)
A person may file an initial financing statement or a continuation statement under this part 8 if:
(1)
The secured party of record authorizes the filing; and
(2)
The filing is necessary under this part 8:
(A)
To continue the effectiveness of a financing statement filed before July 1, 2013; or
(B)
To perfect or continue the perfection of a security interest.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 608, § 16, effective 7/1/2013.
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 8 - TRANSITION PROVISIONS FOR 2010 AMENDMENTS (§§ 4-9-801 — 4-9-809) › Section 4-9-809 - Priority

House Bill 12-1262, enacted in 2012, determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2013, this article, as it existed before July 1, 2013, determines priority.
L. 2012: Entire part added, (HB 12-1262), ch. 170, p. 609, § 16, effective 7/1/2013.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9.3 - [Repealed] CENTRAL INFORMATION SYSTEM (§ 4-9.3-101) › Section 4-9.3-101 - to 4-9.3-108 - [Repealed]

L. 2003: Entire article repealed, p. 1669, § 1, effective July 1.
This article was added in 1995.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9.5 - CENTRAL FILING OF EFFECTIVE FINANCING STATEMENTS (§§ 4-9.5-101 — 4-9.5-113) › Section 4-9.5-101 - Short title

This article shall be known and may be cited as the "Central Filing of Effective Financing Statement Act".
L. 88: Entire article added, p. 325, § 1, effective May 29.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9.5 - CENTRAL FILING OF EFFECTIVE FINANCING STATEMENTS (§§ 4-9.5-101 — 4-9.5-113) › Section 4-9.5-102 - Legislative declaration

The general assembly finds, determines, and declares its intent to adopt a central filing system for security interests relating to farm products pursuant to section 1324 of the federal "Food Security Act of 1985", Pub.L. 99-198. The general assembly further finds, determines, and declares that upon the certification and operation of this central filing system, security interest holders shall use such system in lieu of any other notice provided by section 1324 of the federal "Food Security Act of 1985" for farm products used or produced in the state of Colorado which are included in the central filing system, except as otherwise allowed by this article or required by law.
L. 88: Entire article added, p. 325, § 1, effective May 29.
2023 Colorado Revised Statutes › Title 4 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-13-306) › Article 9.5 - CENTRAL FILING OF EFFECTIVE FINANCING STATEMENTS (§§ 4-9.5-101 — 4-9.5-113) › Section 4-9.5-104 - Central filing system

(1)
The central filing officer shall be responsible for the design, implementation, and operation of a central filing system for effective financing statements. The system shall provide a means for filing effective financing statements with the central filing officer. The system shall include requirements:
(a)
That an effective financing statement be filed in the office of the central filing officer;
(b)
That the central filing officer record the date and hour of the filing of effective financing statements; and
(c)
That the central filing officer assign a file number to each effective financing statement.
(2) to (6)
Repealed.
(7)
(Deleted by amendment, L. 99, p. 747, § 15, effective January 1, 2000.)
(8) and (9)
Repealed.
L. 88: Entire article added, p. 328, §1, effective May 29. L. 91: (5)(a) amended, p. 323, § 2, effective May 24. L. 94: (1) and (5)(a) amended, p. 1552, § 4, effective July 1. L. 95: (5)(a) amended, p. 1139, § 13, effective 7/1/1996. L. 99: (1), (4), (5)(a), and (7) amended, p. 747, § 15, effective 1/1/2000. L. 2003: IP(1), IP(2), IP(3)(a), (4), (5), and (6) amended and (8) added, p. 1670, § 3, effective July 1. L. 2004: (5)(a) amended, p. 1172, § 2, effective July 1. L. 2006: (9) added by revision, pp. 1144, 1154, §§ 2, 12, effective 5/29/2012.
Subsection (9) provided for the repeal of subsections (2), (3), (4), (5), (6), (8), and (9) effective ninety days following certification in writing by the secretary of state to the revisor of statutes. The revisor of statutes received certification from the secretary of state on February 29, 2012.