Except as otherwise provided in articles 3, 4, 5, 6, and 12 of this title 4, a person gives value for rights if the person acquires them:
(1) In return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a charge-back is provided for in the event of difficulties in collection;(2) As security for, or in total or partial satisfaction of, a preexisting claim;(3) By accepting delivery under a preexisting contract for purchase; or(4) In return for any consideration sufficient to support a simple contract.Amended by 2023 Ch. 136,§ 2, eff. 8/7/2023.L. 2006: Entire article R&RE, p. 4 65, § 1, effective September 1.This section is similar to former § 4-1-201 (44) as it existed prior to 2006.
2023 Ch. 136, was passed without a safety clause. See Colo. Const. art. V, § 1(3).