Under the UCCC, some creditors must obtain a supervised lender's license while others must file credit notification. This pamphlet describes licensing and notification requirements. It is not intended to constitute legal advice nor describe maximum rates, fees, and disclosure requirements. You should contact your own attorney if more information is needed. The UCCC is located in the Colorado Department of Law.
Additional staff consists of compliance examiners and attorneys.
A credit contract is one that includes a finance charge or interest. It may be in the form of the sale of goods or services on credit, for example the sale of an automobile or appliances with payment deferred. Businesses regularly making consumer leases must also file notification and pay notification fees. Sales finance companies that purchase or take assignment of consumer credit sales and consumer lease contracts, and collect payments or enforce rights from those contracts, must also file notification and pay notification fees. Sales finance companies must pay a notification fee regardless of the number of days they hold and collect the contracts.