Colorado Revised Statutes

Colo. Rev. Stat. § 4-3-412 (2026)

Obligation of issuer of note or cashier's check

✓ current as of July 2026

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The issuer of a note or cashier's check or other draft drawn on the drawer is obliged to pay the instrument (i) according to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder, or (ii) if the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in sections 4-3-115 and 4-3-407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 4-3-415.

Source: L. 94: Entire article R&RE, p. 867, § 1, effective January 1, 1995.

Notes of Decisions

Cited in 2 cases, 1989–2000 · leading case: Flatiron Linen, Inc. v. First Am. State Bank, 1 P.3d 244 (Colo. Ct. App. 2000).

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Flatiron Linen, Inc. v. First Am. State Bank, 1 P.3d 244 (Colo. Ct. App. 2000). · cites it 2× “Section 4-3-412, C.R.9.1999, sets forth the obligation of the issuer of a cashier's check, as follows: The issuer of a note or cashier's check or other draft drauwm on the drawer is obligated to pay the instrument @) according to its terms at the time it was issued or, if not…”

Farner v. Cole, 778 P.2d 688 (Colo. 1989). · cites it 2× “ent (section 4-3-604); or (c) Cancellation or renunciation (section 4-3-605); or (d) Impairment of right of recourse or of collateral (section 4-3-606); or *693 (e) Reacquisition of the instrument by a prior party (section 4-3-208); or (f) Fraudulent and material alteration…”

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