Part 5. Offenses Relating to the Uniform Commercial Code

The definitions set forth in the “Uniform Commercial Code”, title 4, C.R.S., shall apply to sections 18-5-502 to 18-5-511.

Where, under the terms of an assignment of an account, as defined in section 4-9-102 (a)(2), C.R.S., the assignor, being permitted to collect the proceeds from the debtor, is to pay over to the assignee any of the proceeds and, after collection thereof, the assignor willfully and wrongfully fails to pay over to the assignee the proceeds amounting to one thousand dollars or more, the person commits a class 5 felony. Where the amount of the proceeds withheld by the assignor is less than one thousand dollars, the person commits a class 1 misdemeanor.

Source: L. 71: R&RE, p. 445, § 1. C.R.S. 1963: § 40-5-503. L. 91: Entire section repealed, p. 270, § 8, effective July 1.

If a person who has given a security interest in personal property, as security interest is defined in section 4-1-201 (b)(35), C.R.S., or other person with actual knowledge of the security interest, during the existence of the security interest, knowingly conceals or removes the encumbered property from the state of Colorado without written consent of the secured creditor, the person commits a class 5 felony where the value of the property concealed or removed is one thousand dollars or more. Where the value of the property concealed or removed is less than one thousand dollars, the person commits a class 1 misdemeanor.

Where, under the terms of an instrument creating a security interest in personal property, as security interest is defined in section 4-1-201 (b)(35), C.R.S., the person giving the security interest and retaining possession of the encumbered property and having liberty of sale or other disposition, is required to account to the secured creditor for the proceeds of the sale or other disposition, and willfully and wrongfully fails to pay to the secured creditor the amounts due on account thereof, the person giving the security interest commits a class 5 felony where the amount of the proceeds withheld is one thousand dollars or more. If the amount of the proceeds withheld is less than one thousand dollars, the person commits a class 1 misdemeanor.

A warehouse, as defined in section 4-7-102 (a)(13), C.R.S., or any officer, agent, or servant of a warehouse, that issues or aids in issuing a receipt knowing that the goods for which the receipt is issued have not been actually received by the warehouse, or are not under the warehouse’s actual control at the time of issuing the receipt, commits a class 6 felony.

A warehouse, as defined in section 4-7-102 (a)(13), C.R.S., or any officer, agent, or servant of a warehouse, that fraudulently issues or aids in fraudulently issuing a receipt for goods knowing that it contains any false statement, commits a class 2 misdemeanor.

A warehouse, as defined in section 4-7-102 (a)(13), C.R.S., or any officer, agent, or servant of a warehouse, that issues or aids in issuing a duplicate or additional negotiable receipt for goods knowing that a former negotiable receipt for the same goods or any part of them is outstanding and uncancelled, without placing upon the face thereof the word “duplicate”, except in case of a lost or destroyed receipt after proceedings as provided for in section 4-7-601, C.R.S., commits a class 6 felony.

Where there are deposited with or held by a warehouse, as defined in section 4-7-102 (a)(13), C.R.S., goods of which the warehouse is owner, either solely or jointly or in common with others, the warehouse or any of the warehouse’s officers, agents, or servants that, knowing this ownership, issue or aid in issuing a negotiable receipt for the goods that does not state such ownership commits a class 2 misdemeanor.

A warehouse, as defined in section 4-7-102 (a)(13), C.R.S., or any officer, agent, or servant of a warehouse, that delivers goods out of the possession of such warehouse, knowing that a negotiable receipt the negotiation of which would transfer the right of the possession of those goods is outstanding and uncancelled, without obtaining the possession of that receipt at or before the time of the delivery, except the cases provided for in section 4-7-601, C.R.S., commits a class 2 misdemeanor.

Any person who deposits goods to which the person does not have title, or upon which there is a security interest in personal property, as security interest is defined in section 4-1-201 (b)(35), C.R.S., and who takes for such goods a negotiable receipt that the person afterwards negotiates for value with intent to deceive and without disclosing the person’s want of title or the existence of such security interest, commits a class 2 misdemeanor.

(1) In adopting this section, the general assembly declares as a matter of policy that the issuance and delivery of a known bad check by any person is, in itself, not only harmful to the person to whom it is given but is also injurious to the community at large and is, therefore, a proper subject for criminal sanction without regard to the purpose for which the check was given.
(2) “Insufficient funds” means not having a sufficient balance in account with a bank or other drawee for the payment of a check or order when the check or order is presented for payment and it remains unpaid thirty days after such presentment.
(3) Except as provided in section 18-5-205, a person commits a class 3 misdemeanor if he issues or passes a check or similar sight order for the payment of money, knowing that the issuer does not have sufficient funds in or on deposit with the bank or other drawee for the payment in full of the check or order as well as all other checks or orders outstanding at the time of issuance.
(4) This section does not relieve the prosecution from the necessity of establishing the required knowledge by evidence. However, for purposes of this section, the issuer’s knowledge of insufficient funds is presumed, except in the case of a postdated check or order, if:
(a) He has no account with the bank or other drawee at the time he issues the check or order; or
(b) He has insufficient funds upon deposit with the bank or other drawee to pay the check or order, on presentation within thirty days after issue.
(5) A bank shall not be civilly or criminally liable for releasing information relating to the issuer’s account to a sheriff, deputy sheriff, undersheriff, police officer, agent of the Colorado bureau of investigation, division of gaming investigator, division of lottery investigator, parks and outdoor recreation officer, Colorado wildlife officer, district attorney, assistant district attorney, deputy district attorney, or authorized investigator for a district attorney investigating or prosecuting a charge under this section.
(6) Restitution for offenses described in this section may be collected as a condition of pretrial diversion by a district attorney, an employee of a district attorney’s office, or a person under contract with a district attorney’s office. Such collection is governed by the provisions of article 18.5 of title 16, C.R.S., and is not the collection of a debt.