Colo. Rev. Stat. » Title 15
Colorado Revised Statutes

Colo. Rev. Stat. § 15-15-201 (2026)

Definitions

✓ current as of July 2026
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In this part 2:

(1) "Account" means a contract of deposit between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, and share account.

(2) "Agent" means a person authorized to make account transactions for a party.

(3) "Beneficiary" means a person named as one to whom sums on deposit in an account are payable on request after death of all parties or for whom a party is named as trustee.

(4) "Financial institution" means an organization authorized to do business under state or federal laws relating to financial institutions, and includes a bank, trust company, savings bank, building and loan association, savings and loan company or association, and credit union.

(5) "Multiple-party account" means an account payable on request to one or more of two or more parties, whether or not a right of survivorship is mentioned.

(6) "Party" means a person who, by the terms of an account, has a present right, subject to request, to payment from the account other than as a beneficiary or agent.

(7) "Payment" of sums on deposit includes withdrawal, payment to a party or third person pursuant to check or other request, and a pledge of sums on deposit by a party, or a set- off, reduction, or other disposition of all or part of an account pursuant to a pledge.

(8) "POD designation" means the designation of (i) a beneficiary in an account payable on request to one party during the party's lifetime and on the party's death to one or more beneficiaries, or to one or more parties during their lifetimes and on death of all of them to one or more beneficiaries, or (ii) a beneficiary in an account in the name of one or more parties as trustee for one or more beneficiaries if the relationship is established by the terms of the account and there is no subject of the trust other than the sums on deposit in the account, whether or not payment to the beneficiary is mentioned.

(9) "Receive", as it relates to notice to a financial institution, means receipt in the office or branch office of the financial institution in which the account is established, but if the terms of the account require notice at a particular place, in the place required.

(10) "Request" means a request for payment complying with all terms of the account, including special requirements concerning necessary signatures and regulations of the financial institution; but, for purposes of this part 2, if terms of the account condition payment on advance notice, a request for payment is treated as immediately effective and a notice of intent to withdraw is treated as a request for payment.

(11) "Sums on deposit" means the balance payable on an account, including interest and dividends earned, whether or not included in the current balance, and any deposit life insurance proceeds added to the account by reason of death of a party.

(12) "Terms of the account" includes the deposit agreement and other terms and conditions, including the form, of the contract of deposit.

Source: L. 90: Entire article R&RE, p. 910, § 1, effective July 1.

Editor's note: This section is similar to former § 15-15-101 as it existed prior to 1990.

Notes of Decisions
Cited in 7 cases (2 in the last 5 years), 1981–2023 · leading case: of Treviño, 2020 COA 125 (Colo. Ct. App. 2020).
Sort: Relevance Newest Treatment
of Treviño, 2020 COA 125 (Colo. Ct. App. 2020). · cites it 3× “in an account payable on request to one party during the party’s lifetime and on the party’s death to one or more beneficiaries . . . .” ¶ 16 A POD account is not ordinarily an asset of the estate or subject to probate because, by operation of law, at the instant of the account…”
In re Est. of Owens, 2017 COA 53 (Colo. Ct. App. 2017). · cites it 2× “§ 15-15-201(8), C.R.S. 2016. In Colorado, POD accounts are not considered a part of the probate estate, although the probate code does permit POD designations.”
Sandstead-Corona v. Sandstead—Implied Trusts—, 2018 CO 26 (Colo. 2018). “She asserted that (1) she had no fiduciary relationship with either her mother or her sister that could have given rise to an implied trust and (2) the proceeds from the farm passed outside of probate pursuant to the multi-party account statute, §§ 15-15-201 to - 227, C.R.S.…”
Matter of Est. of Daniels, 643 P.2d 788 (Colo. Ct. App. 1982). · cites it 3× “Sections 15-15-201(2) and 15-11-511(1), C.”
Ayres v. King, 643 P.2d 788 (Colo. Ct. App. 1981). · cites it 3× “Sections 15-15-201(2) and 15-11-511(1), C.”
Linton v. Embry (D. Colo. 2023). · cites it 2× “) Plaintiff alleges that, upon her father’s death on January 3, 2022, she became the exclusive owner of those funds, by operation of law, pursuant to Colorado’s multi-party account statute, Colo. Rev. Stat. §§ 15-15-201 et seq.. (Id.”
Linton v. Embry (D. Colo. 2023). · cites it 2× “) Plaintiff informed Defendant of her position that, upon their father’s death, Plaintiff became the exclusive owner of the funds in the Wells Fargo accounts by operation of law, pursuant to Colorado’s multi-party account statute, Colo. Rev. Stat. §§ 15-15-201 et seq. (Id.”
Colo. Rev. Stat. § 15-15-201(2): 2 cases
Matter of Est. of Daniels, 643 P.2d 788 (Colo. Ct. App. 1982). “Sections 15-15-201(2) and 15-11-511(1), C.”
Ayres v. King, 643 P.2d 788 (Colo. Ct. App. 1981). “Sections 15-15-201(2) and 15-11-511(1), C.”
Colo. Rev. Stat. § 15-15-201(3): 2 cases
Matter of Est. of Daniels, 643 P.2d 788 (Colo. Ct. App. 1982). “Sections 15-15-201(2) and 15-11-511(1), C.”
Ayres v. King, 643 P.2d 788 (Colo. Ct. App. 1981). “Sections 15-15-201(2) and 15-11-511(1), C.”
Colo. Rev. Stat. § 15-15-201(8): 2 cases
of Treviño, 2020 COA 125 (Colo. Ct. App. 2020). “in an account payable on request to one party during the party’s lifetime and on the party’s death to one or more beneficiaries . . . .” ¶ 16 A POD account is not ordinarily an asset of the estate or subject to probate because, by operation of law, at the instant of the account…”
In re Est. of Owens, 2017 COA 53 (Colo. Ct. App. 2017). “§ 15-15-201(8), C.R.S. 2016. In Colorado, POD accounts are not considered a part of the probate estate, although the probate code does permit POD designations.”
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