reglab/housing_qa huggingface dataset:
CO Code § 5-3.1-106 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-106. Maximum Loan Amount - Right to Rescind

  A lender shall not lend an amount greater than five hundred dollars nor shall the amount financed exceed five hundred dollars by any one lender at any time to a consumer. Nothing in this subsection (1) shall preclude a lender from making more than one loan to a consumer so long as the total amount financed does not exceed five hundred dollars at any one time and there is at least a thirty-day waiting period between loans.    A consumer shall have the right to rescind the deferred deposit loan on or before 5 p.m. the next business day following the loan transaction.     History. Source: L. 2000: Entire article added, p. 441, § 1, effective July 1. L. 2004: (1) amended, p. 318, § 3, effective July 1. L. 2010: (1) amended,(HB 10-1351), ch. 267, p. 1223, § 5, effective August 11.    Cross references:   For the legislative declaration in the 2010 act amending subsection (1), see section 1 of chapter 267, Session Laws of Colorado 2010.
CO Code § 5-3.1-107 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-107. Multiple Outstanding Transactions Notice

 A lender shall provide the following notice in a prominent place on each deferred deposit loan agreement in at least ten-point type:   STATE LAW PROHIBITS DEFERRED DEPOSIT LOANS EXCEEDING FIVE HUNDRED DOLLARS ($500) TOTAL DEBT PLUS APPLICABLE FINANCE CHARGES PERMITTED BY LAW FROM A DEFERRED DEPOSIT LENDER. EXCEEDING THIS AMOUNT MAY CREATE FINANCIAL HARDSHIPS FOR YOU AND YOUR FAMILY. YOU HAVE THE RIGHT TO RESCIND THIS TRANSACTION BY 5 P.M. THE NEXT BUSINESS DAY FOLLOWING THIS TRANSACTION.   History. Source: L. 2000: Entire article added, p. 441, § 1, effective July 1. L. 2001: Entire section amended, p. 29, § 8, effective March 9.
CO Code § 5-3.1-108 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-108. Renewal - New Loan - Consecutive Loans - Payment Plan - Definitions

  A deferred deposit loan shall not be renewed more than once. After such renewal, the consumer shall pay the debt in cash or its equivalent. If the consumer does not pay the debt, then the lender may deposit the consumer's instrument.    Upon renewal of a deferred deposit loan or payday loan, the lender may assess a finance charge that must not exceed an annual percentage rate of thirty-six percent. If the deferred deposit loan or payday loan is renewed prior to the maturity date, the lender shall refund to the consumer a prorated portion of the finance charge based upon the ratio of time left before maturity to the loan term.    A transaction is completed when the lender presents the instrument for payment or the consumer redeems the instrument by paying the full amount of the instrument to the holder. Once the consumer has completed the deferred deposit transaction, the consumer may enter into a new deferred deposit agreement with the lender. If the consumer's instrument is dishonored by the payor financial institution after the transaction is complete and, before the lender receives a notice of dishonor, the lender makes a new loan that does not exceed the maximum allowable loan, the lender shall not be in violation of the maximum loan amount provisions in section 5-3.1-106.    Nothing in this section prohibits a lender from refinancing a deferred deposit loan as a supervised loan subject to the provision of this code, articles 1 to 9 of this title; except that the lender may not contract for or receive the minimum finance charge contained in section 5-2-201 (7).    (Deleted by amendment, L. 2010, (HB 10-1351), ch. 267, p. 1223, § 6, effective August 11, 2010.)     History. Source: L. 2000: Entire article added, p. 441, § 1, effective July 1. L. 2001: (4) amended, p. 29, § 9, effective March 9. L. 2004: (3) amended, p. 318, § 4, effective July 1. L. 2007: (5) added, p. 384, § 1, effective July 1. L. 2010: (2) and (5) amended,(HB 10-1351), ch. 267, p. 1223, § 6, effective August 11. Initiated 2018: (2) amended, Proposition 111, L. 2019, p. 4539 , § 3, effective February 1, 2019, proclamation of the Governor issued December 19, 2018.    Cross references:   For the legislative declaration in the 2010 act amending subsections (2) and (5), see section 1 of chapter 267, Session Laws of Colorado 2010.
CO Code § 5-3.1-109 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-109. Form of Loan Proceeds

 A lender may pay the proceeds from a deferred deposit loan to the consumer in the form of a business instrument, money order, cash, stored value card, internet transfer, or authorized automated clearinghouse transaction. The consumer shall not be charged an additional finance charge or fee for cashing the lender's business instrument or for negotiating forms of loan proceeds other than cash.   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1. L. 2004: Entire section amended, p. 318, § 5, effective July 1.
CO Code § 5-3.1-110 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-110. Endorsement of Instrument

 A lender shall not negotiate or present an instrument for payment unless the instrument is endorsed with the actual business name of the lender.   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1.
CO Code § 5-3.1-111 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-111. Redemption of Instrument

 Prior to the lender negotiating or presenting the instrument, the consumer shall have the right to redeem any instrument held by a lender as a result of a deferred deposit loan if the consumer pays the full amount of the instrument to the lender.   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1.
CO Code § 5-3.1-112 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-112. Authorized Dishonored Instrument Charge

 If an instrument held by a lender as a result of a deferred deposit loan is returned unpaid to the lender from a payor financial institution due to insufficient funds, a closed account, a stop-payment order, or any other reason, not including a bank error, the lender shall have the right to exercise all civil means authorized by law to collect the face value of the instrument; except that the provisions and remedies of section 13-21-109 , C.R.S., are not applicable to any deferred deposit loan. In addition, the lender may contract for and collect one returned instrument charge for each deferred deposit loan, not to exceed twenty-five dollars, plus court costs and reasonable attorney fees as awarded by a court and incurred as a result of the default. However, such attorney fees shall not exceed the loan amount. The lender shall not collect any other fees as a result of default. A returned instrument charge shall not be allowed if the loan proceeds instrument is dishonored by the financial institution or the consumer places a stop-payment order due to forgery or theft.   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1. L. 2004: Entire section amended, p. 318, § 6, effective July 1.
CO Code § 5-3.1-113 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-113. Posting of Charges

 Any lender offering a deferred deposit loan shall post at any place of business where deferred deposit loans are made a notice of the finance charges imposed for such deferred deposit loans.   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1. L. 2003: Entire section amended, p. 1894, § 7, effective July 1.
CO Code § 5-3.1-114 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-114. Notice on Assignment or Sale of Instruments

 Prior to sale or assignment of instruments held by the lender as a result of a deferred deposit loan, the lender shall place a notice on the instrument in at least ten-point type to read:   THIS IS A DEFERRED DEPOSIT LOAN INSTRUMENT.   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1.
CO Code § 5-3.1-115 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-115. Records and Annual Reports

 A lender shall maintain records and file an annual report in accordance with section 5-2-304 .   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1. L. 2001: Entire section amended, p. 30, § 10, effective March 9.
CO Code § 5-3.1-116 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-116. License Requirement

 In accordance with section 5-2-301 , no person shall engage in the business of deferred deposit loans without having first obtained a supervised lender's license pursuant to section 5-2-302 . A separate license shall be required for each location where such business is conducted.   History. Source: L. 2000: Entire article added, p. 442, § 1, effective July 1. L. 2001: Entire section amended, p. 30, § 11, effective March 9.
CO Code § 5-3.1-117 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-117. Examination and Investigation

 A lender may be examined and investigated in accordance with section 5-2-305 .   History. Source: L. 2000: Entire article added, p. 443, § 1, effective July 1. L. 2001: Entire section amended, p. 30, § 12, effective March 9.
CO Code § 5-3.1-118 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-118. Denial of License - Discipline

  The administrator may deny a license or discipline a lender in accordance with sections 5-2-302, 5-2-303, and 5-2-306.      If the administrator finds that a lender has violated the code, articles 1 to 9 of this title, the administrator shall notify the lender in writing of such violations and the actions the lender must take to cure the violations. The administrator shall allow the lender thirty days after the postmark date of the notice, or the date of delivery if not mailed, to cure the violations before taking disciplinary action in accordance with subsection (1) of this section. If the administrator determines that such lender has performed such actions contained in such notice, the lender shall not be liable for the violations that have been cured.    This subsection (2) shall not apply if the lender violated the code, articles 1 to 9 of this title, in a repeated or willful manner.    If an alleged violation of the code, articles 1 to 9 of this title, is the result of a bona fide clerical oversight or computer-based error and not the product of the lender's established lending practices, and the alleged violation can be corrected without material change to the terms and conditions of a consumer's loan, the lender shall have thirty days after the postmark date of the notice, or the date of delivery if not mailed, to cure the alleged violation without incurring any fine or penalty or any required refund of any finance charges associated with the alleged violation. Nothing in this subsection (2) shall exempt a lender from making required refunds if the violation resulted in an overcharge or excess charge to the consumer.       A lender shall have ninety days to comply with any rule, interpretation, or opinion of the administrator that requires a lender to implement new policies or procedures that involve the reprinting of the lender's forms to include new disclosures, or that requires the lender to revise existing computer programs or add new computer programs to comply with the rule, interpretation, or opinion. During the ninety-day period, the administrator shall not deem the lender to be in violation of articles 1 to 9 of this title for noncompliance with the new rule, interpretation, or opinion.      History. Source: L. 2000: Entire article added, p. 443, § 1, effective July 1. L. 2001: (1) amended, p. 30, § 13, effective March 9. L. 2004: (2) amended and (3) added, p. 319, § 7, effective July 1.
CO Code § 5-3.1-119 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-119. Applicability of Other Provisions of This Title

 The provisions of the code, articles 1 to 9 of this title, apply to a lender unless such provisions are inconsistent with this article.   History. Source: L. 2000: Entire article added, p. 443, § 1, effective July 1.
CO Code § 5-3.1-120 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-120. Criminal Culpability

 A consumer shall not be subject to any criminal penalty for entering into a deferred deposit loan agreement. A consumer shall not be subject to any criminal penalty in the event the instrument is dishonored, unless the consumer's account on which the instrument was written was closed before the agreed upon date of negotiation, subject to the provisions of section 18-5-205 , C.R.S.   History. Source: L. 2000: Entire article added, p. 443, § 1, effective July 1.
CO Code § 5-3.1-121 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-121. Unfair or Deceptive Practices

  No person shall engage in unfair or deceptive acts, practices, or advertising in connection with a deferred deposit loan.    No person may engage in any device, subterfuge, or pretense to evade the requirements of this article, including making loans disguised as a personal property sale, and leaseback transaction; disguising loan proceeds as a cash rebate for the pretextual installment sale of goods or services; or making, offering, guaranteeing, assisting, or arranging a consumer to obtain a loan with a greater rate of interest, consideration, or charge than is permitted by this article through any method including mail, telephone, internet, or any electronic means regardless of whether the person has a physical location in the state.     History. Source: L. 2000: Entire article added, p. 443, § 1, effective July 1. L. 2010: Entire section amended,(HB 10-1351), ch. 267, p. 1224, § 7, effective August 11. Initiated 2018: (2) amended, Proposition 111, L. 2019, p. 4540 , § 4, effective February 1, 2019, proclamation of the Governor issued December 19, 2018.    Cross references:   For the legislative declaration in the 2010 act amending this section, see section 1 of chapter 267, Session Laws of Colorado 2010.
CO Code § 5-3.1-122 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-122. Unconscionability

  In applying the provisions of sections 5-5-109 and 5-6-112 to the actions of a lender, consideration shall be given to the following, among other factors:   The financial benefits of the loan to the consumer and the level of risk incurred by the lender in extending credit;    The absence of collateral other than the instrument executed by the consumer payable to the lender;    The relation between the amount and terms of credit granted and the cost of making the loan.       A lender shall require a consumer to fill out a loan application at least once in each twelve-month period of time and shall maintain this application on file. The application shall be signed and dated by the consumer.      A lender shall require the consumer to provide a pay stub or other evidence of income at least once each twelve-month period. Such evidence shall not be over forty-five days old when presented. If a lender requires a consumer to present a bank statement to secure a loan, the lender shall allow the consumer to delete from the statement the information regarding to whom the debits listed on the statement were payable.    If the amount borrowed is not more than twenty-five percent of the consumer's monthly gross income and benefits, as evidenced by a paycheck stub or otherwise substantiated, a lender shall not be obligated to investigate the consumer's continued debt position, and the consumer's ability to repay the loan need not be further demonstrated.       If a lender complies with the requirements of subsections (2) and (3) of this section, and the deferred deposit loan otherwise complies with this article and other applicable law, neither the consumer's inability to repay the loan nor the lender's decision to obtain or not obtain additional information concerning the consumer's creditworthiness shall be cause to determine that a loan is unconscionable.      History. Source: L. 2004: Entire section added, p. 320, § 8, effective July 1.
CO Code § 5-3.1-123 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.1 - Deferred Deposit Loan Act|§ 5-3.1-123. Use of Multiple Agreements for Deferred Deposit Loans

 If a consumer obtains a deferred deposit loan voluntarily and separately from his or her spouse and the consumer's action is documented in writing, signed by the consumer, and retained by the lender, the transaction shall not be considered a violation of section 5-3-205 .   History. Source: L. 2004: Entire section added, p. 320, § 9, effective July 1.
CO Code § 5-3.7-101 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 3.7 - Consumer Credit Solicitation Protection|§ 5-3.7-101. Consumer Credit Solicitation Protection - Definitions

  A solicitor that makes a firm offer of credit for a lender credit card or a seller credit card to a consumer by mail solicitation and receives an acceptance of that offer that lists the address of the consumer accepting the offer as different from the address to which the offer was sent shall, prior to issuing or directing issuances of the lender credit card or seller credit card, verify that the consumer accepting the offer is the same consumer to whom the offer was sent.    As used in this section, unless the context otherwise requires:   “Firm offer of credit” shall have the same meaning as set forth in 15 U.S.C. sec. 1681a (l).    “Solicitor” means the person making the offer by mail solicitation and does not include a card issuer or other creditor when that creditor or card issuer relies on an independent third party to provide the services.    “Verify” means the use of commercially reasonable efforts to ascertain that the consumer responding to a mail solicitation is the same consumer to whom the solicitation was directed. For the purposes of this article, a solicitor shall be deemed to verify that the consumer accepting a mail solicitation is the same consumer to whom the solicitation was directed if:   A consumer responding at a telephone number appearing in a publicly available directory or database as the telephone number of the consumer to whom the solicitation was mailed identifies himself or herself as the consumer to whom the solicitation was mailed and acknowledges the consumer's acceptance of the solicitation; or    A consumer presents the solicitor, including presentation by facsimile transmission or mail, the original or a copy of one or more documents, including a driver's license, social security card, passport, or any other identification document issued by a state or federal governmental agency, that, on the face of the document or documents, appears to confirm such consumer's identity as the consumer to whom a solicitation was mailed and the consumer acknowledges acceptance of the solicitation; or    The solicitor verified, by any means adopted in federal regulations, that the consumer accepting the solicitation is the consumer to whom the solicitation was directed; or    The solicitor verified by any other means, that under the standards and practices of the industry in which the solicitor is engaged would be deemed sufficient, that the consumer accepting the solicitation is the same consumer to whom the solicitation was sent.           History. Source: L. 2004: Entire article added, p. 657, § 1, effective July 1.
CO Code § 5-9-101.5 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 9 - Effective Date|§ 5-9-101.5. Time of Taking Effect - Provisions for Transition

  Except as otherwise provided in this section, this code as it exists following the repeal and reenactment contained in House Bill 00-1185, as enacted at the second regular session of the sixty-second general assembly, takes effect at 12:01 a.m. on July 1, 2000.    Transactions entered into before July 1, 2000, and the rights, duties, and interests flowing from them thereafter, may be terminated, completed, consummated, or enforced as required or permitted by any statute, rule of law, or other law amended, repealed, or modified by this code as though the repeal, amendment, or modification had not occurred, but this code applies to:   Refinancings, consolidations, and deferrals made on or after July 1, 2000, concerning sales, leases, and loans whenever made;    Sales or loans made on or after July 1, 2000, pursuant to revolving credit accounts entered into, arranged, or contracted for before July 1, 2000; and    All credit transactions made before July 1, 2000, insofar as article 5 of this title limits the remedies of creditors. Notwithstanding anything to the contrary, the disclosures described in sections 5-3-105 (5), 5-3-106, 5-5-110 (4), and 5-5-111 (3) of this code take effect January 1, 2001.        History. Source: L. 2000: Entire section added, p. 1256, § 4, effective July 1.
CO Code § 5-9-102 (2021)
2021 Colorado Code|Title 5 - Consumer Credit Code|Article 9 - Effective Date|§ 5-9-102. Continuation of Licensing Prior to July 1, 2000

 Notwithstanding the repeal and reenactment of articles 2 and 3 of chapter 73, C.R.S. 1963, by this code, all persons licensed or otherwise authorized under the provisions of articles 2 or 3 of chapter 73, C.R.S. 1963, immediately prior to October 1, 1971, are licensed to make supervised loans under this code as it existed prior to the enactment of House Bill 00-1185, as enacted at the second regular session of the sixty-second general assembly, pursuant to the provisions on supervised loans of the article on loans (part 5 of article 3 of this title) in effect on and after October 1, 1971, but before July 1, 2000, and all provisions of said sections apply to the persons so previously licensed or authorized. The administrator may, but is not required to, deliver evidence of licensing to the persons so previously licensed or authorized.   History. Source: L. 71: R&RE, p. 851, § 1. C.R.S. 1963: § 73-9-102. L. 2000: Entire section amended, p. 1256, § 3, effective July 1. History. Source: L. 71: R&RE, p. 851, § 1. C.R.S. 1963: § 73-9-102. L. 2000: Entire section amended, p. 1256, § 3, effective July 1.    OFFICIAL COMMENT   This section provides automatic licensing under Article 3, Part 5 [Section 5-3-501 et seq.] for all lenders previously licensed under the State's licensed lender statutes prior to the effective date. No application or administrative action is required and the formal license under the prior statute, which will be repealed, will be a license under Part 5 of Article 3. The Administrator, at such time as his new duties under the Code permit him an opportunity, may substitute new licenses for those in the lenders' possession, but this is entirely a ministerial act.