CO HB1157

Amends Colorado Revised Statutes 4-4.5-108 to clarify the relationship between state Uniform Commercial Code Article 4.5 and the federal Electronic Fund Transfer Act of 1978.

Applies Colorado Article 4.5 to remittance transfers as defined under 15 U.S.C. Section 1693o-1, unless the transfer qualifies as an electronic fund transfer under 15 U.S.C. Section 1693a.

Establishes that federal Electronic Fund Transfer Act provisions govern over Colorado Article 4.5 when the two conflict or are inconsistent.

Takes effect on the bill's effective date and applies to all acts occurring on or after that date.

Declares the act necessary for immediate preservation of public peace, health, and safety.