11-53-210. Affirmative defenses.
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/co/title-11-financial-institutions/article-53-colorado-commodity-code/11-53-210·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)It shall be an affirmative defense in any complaint, information, or indictment, or to any writ or proceeding brought under this article alleging a violation of section 11-53-103 based solely on the failure in an individual case to make physical delivery within the applicable time period under section 11-53-102
(5)or 11-53- 105 (1)(b) if:
(a)Failure to make physical delivery was due solely to factors beyond the control of the seller, the seller's officers, directors, partners, agents, servants, or employees, any person occupying a similar status or performing a similar function to the seller, or any person who directly or indirectly controls or is controlled by the seller, the seller's affiliates, subsidiaries, or successors; and
(b)Physical delivery was completed within a reasonable time under the applicable circumstances.