Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Title XVII - Of the Bank Agreements - Chapter II - Term Deposit - From: Section 1393 to: 1395 Art
CHAPTER II Term Deposit Section 1393 .- It is called term deposits on which those provisions in favor of the bank, notice or a term to require restitution. Upon its establishment the term deposit or notice but has failed to indicate the term of expiry or notice shall be deemed to not be required within thirty days. Section 1394 .- The banks issued at the request of the interested certificates of deposit that, unless stipulated otherwise be negotiable as provided in Title III of Book III of this Code. When there is no place for issuance of the certificate is conclusive evidence of the deposit receipt issued by the bank concerned. Section 1395 .- The term deposit is paid by nature.