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2021 Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 15 - Nonprobate Transfers on Death
Part 2 - Multiple-Person Accounts
§ 15-15-227. Set-Off
Universal Citation: CO Code § 15-15-227 (2021)
Without qualifying any other statutory right to set-off or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to set-off against the account. The amount of the account subject to set-off is the proportion to which the party is, or immediately before death was, beneficially entitled under section 15-15-211 or, in the absence of proof of that proportion, an equal share with all parties.
History. Source: L. 90: Entire article R&RE, p. 916, § 1, effective July 1.
Editor's note:
This section is similar to former § 15-15-113 as it existed prior to 1990.
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