reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-209 - Certificate of registration - issuance or denial

(a)
Except as otherwise provided in subsections (b) and (c) of this section, the administrator shall issue a certificate of registration as a provider to a person that complies with sections
5-19-205
and
5-19-206
.
(b)
The administrator may deny registration if:
(1)
The application contains information that is materially erroneous or incomplete;
(2)
An officer, director, or owner of the applicant has been convicted of a crime, or suffered a civil judgment, involving dishonesty or the violation of state or federal securities laws;
(3)
The applicant or any of its officers, directors, or owners has defaulted in the payment of money collected for others; or
(4)
The administrator, upon reasonable belief, finds that the financial responsibility, experience, character, or general fitness of the applicant or its owners, directors, employees, or agents does not warrant belief that the business will be operated in compliance with this part 2.
(c)
The administrator shall deny registration if:
(1)
The application is not accompanied by the fee established by the administrator; or
(2)
With respect to an applicant that is organized as a not-for-profit entity or has obtained tax-exempt status under the federal "Internal Revenue Code of 1986",
26 U.S.C. sec. 501
, as amended, the applicant's board of directors is not independent of the applicant's employees and agents.
(d)
A board of directors is not independent for purposes of subsection (c) of this section if more than one-fourth of its members:
(1)
Are affiliates of the applicant, as defined in section
5-19-202(2)(A), (2)(B)(i), (2)(B)(ii), (2)(B)(iv), (2)(B)(v), (2)(B)(vi), or (2)(B)(vii)
; or
(2)
After the date ten years before first becoming a director of the applicant, were employed by or directors of a person that received from the applicant more than twenty-five thousand dollars in either the current year or the preceding year.
(e)
The administrator may temporarily approve a certificate of registration in the event an applicant has made a timely effort to obtain a criminal records check as required in section
5-19-206(12)
, but for which a timely return of information has not occurred, for a reasonable period of time but no longer than one hundred twenty days, provided that the applicant has provided all other required information in the application for registration and the administrator finds no reason to believe from the information that has been provided that the applicant may not provide fair and honest services to debtors under this part 2.
Renumbered from C.R.S. § 12-14.5-209 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1144, § 4, effective August 9.
This section is similar to former § 12-14.5-209 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-210 - Certificate of registration - timing

(a)
The administrator shall approve or deny an initial registration as a provider within ninety days after an application is filed. In connection with a request pursuant to section
5-19-206(17)
for additional information, the administrator may extend the ninety-day period for not more than thirty days. Within seven days after denying an application, the administrator, in a record, shall inform the applicant of the reasons for the denial.
(b)
If the administrator denies an application for registration as a provider or does not act on an application within the time prescribed in subsection (a) of this section, the applicant may appeal and request a hearing pursuant to article
4
of title
24
.
Renumbered from C.R.S. § 12-14.5-210 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1145, § 4, effective August 9.
This section is similar to former § 12-14.5-210 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-212 - Registration in another state

If a provider holds a license or certificate of registration in another state authorizing it to provide debt-management services, the provider may submit a copy of that license or certificate and the application for it instead of an application in the form prescribed by section
5-19-205(a)
,
5-19-206
, or
5-19-211(b)
. The administrator shall accept the application and the license or certificate from the other state as an application for registration as a provider or for renewal of registration as a provider, as appropriate, in this state if:
(1)
The application in the other state contains information substantially similar to, or more comprehensive than, that required in an application submitted in this state;
(2)
The applicant provides the information required by section
5-19-206(1), (3), (8), (10), and (11)
;
(3)
The applicant, under penalty of false statement, certifies that the information contained in the application is current or, to the extent it is not current, supplements the application to make the information current; and
(4)
The application is accompanied by the items required in section
5-19-205(b)
.
Renumbered from C.R.S. § 12-14.5-212 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1146, § 4, effective August 9.
This section is similar to former § 12-14.5-212 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-214 - Bond required - substitute

(a)
Instead of the surety bond required by section
5-19-213
, a provider may deliver to the administrator, in the amount required by section
5-19-213(b)
, and, except as otherwise provided in subsection (a)(1) of this section, payable or available to this state and to individuals who reside in this state when they agree to receive debt-management services from the provider, as their interests may appear, if the provider or its agent does not comply with this part 2:
(1)
With the approval of the administrator, an irrevocable letter of credit, issued or confirmed by a bank approved by the administrator, payable upon presentation of a certificate by the administrator stating that the provider or its agent has not complied with this part 2.
(b)
If a provider furnishes a substitute pursuant to subsection (a) of this section, the provisions of section
5-19-213(a), (c), (d), and (e)
apply to the substitute.
Renumbered from C.R.S. § 12-14.5-214 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1148, § 4, effective August 9.
This section is similar to former § 12-14.5-214 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-215 - Good faith requirement

A provider shall act in good faith in all matters under this part 2.
Renumbered from C.R.S. § 12-14.5-215 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1149, § 4, effective August 9.
This section is similar to former § 12-14.5-215 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-216 - Customer service

A provider required to be registered under this part 2 shall maintain a toll-free communication system, staffed at a level that reasonably permits an individual to speak to a counselor, debt specialist, or customer-service representative, as appropriate, during ordinary business hours.
Renumbered from C.R.S. § 12-14.5-216 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1149, § 4, effective August 9.
This section is similar to former § 12-14.5-216 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-220 - Cancellation of agreement - waiver

(a)
An individual may cancel an agreement before midnight of the third business day after the individual assents to it, unless the agreement does not comply with subsection (b) of this section or section
5-19-219
or
5-19-228
, in which event the individual may cancel the agreement within thirty days after the individual assents to it. To exercise the right to cancel, the individual shall give notice in a record to the provider. Notice by mail is given when mailed.
(b)
An agreement shall be accompanied by a separate form that contains in bold-faced type, surrounded by bold black lines:
Notice of Right to Cancel
You may cancel this agreement, without any penalty or obligation, at any time before midnight of the third business day that begins the day after you agree to it by electronic communication or by signing it.
To cancel this agreement during this period, send an e-mail to
(E-mail address of provider)
or mail or deliver a signed, dated copy of this notice, or any other written notice to
(Name of provider)
at
(Address of provider)
before midnight on
(Date)
.
If you cancel this agreement within the 3-day period, we will refund all money you already have paid us.
You also may terminate this agreement at any later time, but we are not required to refund fees you have paid us.
I cancel this agreement,
___________________
Print your name
___________________
Signature
___________________
Date
(c)
If a personal financial emergency necessitates the disbursement of an individual's money to one or more of the individual's creditors before the expiration of three days after an agreement is signed, an individual may waive the right to cancel. To waive the right, the individual shall send or deliver a signed, dated statement in the individual's own words describing the circumstances that necessitate a waiver. The waiver shall explicitly waive the right to cancel. A waiver by means of a standard form record is void.
Renumbered from C.R.S. § 12-14.5-220 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1156, § 4, effective August 9.
This section is similar to former § 12-14.5-220 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-221 - Required language

Unless the administrator, by rule, provides otherwise, the disclosures and documents required by this part 2 shall be in English. If a provider communicates with an individual primarily in a language other than English, the provider shall furnish a translation into the other language of the disclosures and documents required by this part 2.
Renumbered from C.R.S. § 12-14.5-221 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1157, § 4, effective August 9.
This section is similar to former § 12-14.5-221 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-224 - Voluntary contributions

A provider may not solicit a voluntary contribution from an individual or an affiliate of the individual for any service provided to the individual. A provider may accept voluntary contributions from an individual but, until thirty days after completion or termination of a plan, the aggregate amount of money received from or on behalf of the individual may not exceed the total amount the provider may charge the individual under section
5-19-223
.
Renumbered from C.R.S. § 12-14.5-224 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1160, § 4, effective August 9.
This section is similar to former § 12-14.5-224 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-225 - Voidable agreements

(a)
If a provider imposes a fee or other charge or receives money or other payments not authorized by section
5-19-223
or
5-19-224
, the individual may void the agreement and recover as provided in section
5-19-235
.
(b)
If a provider is not registered as required by this part 2 when an individual assents to an agreement, the agreement is voidable by the individual.
(c)
If an individual voids an agreement under subsection (b) of this section, the provider does not have a claim against the individual for breach of contract or for restitution.
Renumbered from C.R.S. § 12-14.5-225 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1160, § 4, effective August 9.
This section is similar to former § 12-14.5-225 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-226 - Termination of agreements

(a)
If an individual who has entered into an agreement fails for sixty days to make payments required by the agreement, a provider may terminate the agreement.
(b)
If a provider or an individual terminates an agreement, the provider shall immediately return to the individual any money of the individual held in trust for the benefit of the individual.
Renumbered from C.R.S. § 12-14.5-226 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1160, § 4, effective August 9.
This section is similar to former § 12-14.5-226 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-227 - Periodic reports - retention of records

(a)
A provider shall provide the accounting required by subsection (b) of this section:
(1)
Upon cancellation or termination of an agreement; and
(2)
Before cancellation or termination of any agreement:
(A)
At least once each month; and
(B)
Within five business days after a request by an individual, but the provider need not comply with more than one request from an individual in any calendar month.
(b)
A provider, in a record, shall provide each individual for whom it has established a plan an accounting of the following information:
(1)
The amount of money received from the individual since the last report;
(2)
The amounts and dates of disbursement made on the individual's behalf, or by the individual upon the direction of the provider, since the last report to each creditor listed in the plan;
(3)
The amounts deducted from the amount received from the individual;
(4)
The amount held in reserve; and
(5)
If, since the last report, a creditor has agreed to accept as payment in full an amount less than the principal amount of the debt owed by the individual:
(A)
The total amount and terms of the settlement;
(B)
The amount of the debt when the individual assented to the plan;
(C)
The amount of the debt when the creditor agreed to the settlement; and
(D)
The calculation of a settlement fee.
(c)
A provider shall maintain records for each individual for whom it provides debt-management services for five years after the final payment made by the individual and produce a copy of them to the individual within a reasonable time after a request for them. The provider may use electronic or other means of storage of the records.
Renumbered from C.R.S. § 12-14.5-227 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1161, § 4, effective August 9.
This section is similar to former § 12-14.5-227 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-229 - Notice of litigation

No later than thirty days after a provider has been served with notice of a civil action for violation of this part 2 by or on behalf of an individual who resides in this state at either the time of an agreement or the time the notice is served, the provider shall notify the administrator in a record that it has been sued.
Renumbered from C.R.S. § 12-14.5-229 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1164, § 4, effective August 9.
This section is similar to former § 12-14.5-229 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-230 - Advertising

A provider that advertises debt-management services shall disclose, in an easily comprehensible manner, the information specified in section
5-19-217(d)(3) and (d)(4)
.
Renumbered from C.R.S. § 12-14.5-230 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1164, § 4, effective August 9.
This section is similar to former § 12-14.5-230 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-231 - Liability for the conduct of other persons

If a provider delegates any of its duties or obligations under an agreement or this part 2 to another person, including an independent contractor, the provider is liable for conduct of the person that, if done by the provider, would violate the agreement or this part 2.
Renumbered from C.R.S. § 12-14.5-231 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1164, § 4, effective August 9.
This section is similar to former § 12-14.5-231 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-232 - [Effective Until 8/7/2024] Powers of administrator - rules

(a)
The administrator may act on its own initiative or in response to complaints and may receive complaints, take action to obtain voluntary compliance with this part 2, and seek or provide remedies as provided in this part 2.
(b)
The administrator may investigate and examine, in this state or elsewhere, by subpoena or otherwise, the activities, books, accounts, and records of a person that provides or offers to provide debt-management services, or a person to which a provider has delegated its obligations under an agreement or this part 2, to determine compliance with this part 2. Information that identifies individuals who have agreements with the provider shall not be disclosed to the public. In connection with the investigation, the administrator may:
(1)
Charge the person the reasonable expenses necessarily incurred to conduct the examination;
(2)
Require or permit a person to file a statement under oath as to all the facts and circumstances of a matter to be investigated; and
(3)
Seek a court order authorizing seizure from a bank at which the person maintains a trust account required by section
5-19-222
, any or all money, books, records, accounts, and other property of the provider that is in the control of the bank and relates to individuals who reside in this state.
(c)
The administrator may adopt rules to implement the provisions of this part 2 in accordance with section
24-4-103
.
(d)
The administrator may enter into cooperative arrangements with any other federal or state agency having authority over providers and may exchange with any of those agencies information about a provider, including information obtained during an examination of the provider.
(e)
The administrator, by rule, shall establish reasonable fees to be paid by providers for the expense of administering this part 2. The fees may vary by the type of debt-management service provided.
Renumbered from C.R.S. § 12-14.5-232 and amended by 2017 Ch. 260, §4, eff. 8/9/2017.
Amended by 2015 Ch. 287, §3, eff. 6/5/2015.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1165, § 4, effective August 9.
This section is similar to former § 12-14.5-232 as it existed prior to 2017.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-232 - [Effective 8/7/2024] Powers of administrator - rules

(a)
The administrator may act on its own initiative or in response to complaints and may receive complaints, take action to obtain voluntary compliance with this part 2, and seek or provide remedies as provided in this part 2.
(b)
The administrator may investigate and examine, in this state or elsewhere, by subpoena or otherwise, the activities, books, accounts, and records of a person that provides or offers to provide debt-management services, or a person to which a provider has delegated its obligations under an agreement or this part 2, to determine compliance with this part 2. Information that identifies individuals who have agreements with the provider shall not be disclosed to the public. In connection with the investigation, the administrator may:
(1)
Charge the person the reasonable expenses necessarily incurred to conduct the examination;
(2)
Require or permit a person to file a statement under oath as to all the facts and circumstances of a matter to be investigated; and
(3)
Seek a court order authorizing seizure from a bank at which the person maintains a trust account required by section
5-19-222
, any or all money, books, records, accounts, and other property of the provider that is in the control of the bank and relates to individuals who reside in this state.
(c)
The administrator may adopt rules to implement the provisions of this part 2 in accordance with section
24-4-103
.
(d)
The administrator may enter into cooperative arrangements with any other federal or state agency having authority over providers and may exchange with any of those agencies information about a provider, including information obtained during an examination of the provider.
(e)
The administrator shall administratively establish reasonable fees to be paid by providers for the expense of administering this part 2. The fees may vary by the type of debt-management service provided.
Amended by 2024 Ch. 226,§ 5, eff. 8/7/2024.
Renumbered from C.R.S. § 12-14.5-232 and amended by 2017 Ch. 260, §4, eff. 8/9/2017.
Amended by 2015 Ch. 287, §3, eff. 6/5/2015.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1165, § 4, effective August 9.
This section is similar to former § 12-14.5-232 as it existed prior to 2017.
2024 Ch. 226, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-233 - Administrative and legal remedies

(a)
The administrator may enforce this part 2 and rules adopted under this part 2 by taking one or more of the following actions:
(1)
Ordering a provider or a director, employee, or other agent of a provider to cease and desist from any violations;
(2)
Ordering a provider or a person that has caused a violation to correct the violation, including making restitution of money or property to a person aggrieved by a violation;
(3)
Imposing on a provider or a person that has caused a violation a civil penalty not exceeding ten thousand dollars for each violation;
(4)
Prosecuting a civil action to:
(A)
Enforce an order; or
(B)
Obtain restitution, a civil penalty not to exceed ten thousand dollars per violation, an injunction, or other equitable relief;
(5)
Intervening in an action brought under section
5-19-235
.
(b)
If a person violates or knowingly authorizes, directs, or aids in the violation of a final order issued under subsection (a)(1) or (a)(2) of this section, the administrator or court may impose a civil penalty not exceeding twenty thousand dollars for each violation.
(c)
The administrator may maintain an action to enforce this part 2 in any county.
(d)
The administrator may recover the reasonable costs of enforcing this part 2 under subsections (a) to (c) of this section, including attorney fees based on the hours reasonably expended and the hourly rates for attorneys of comparable experience in the community.
(e)
In determining the amount of a civil penalty to impose under subsection (a) or (b) of this section, the administrator or the court shall consider the seriousness of the violation, the good faith of the violator, any previous violations by the violator, the deleterious effect of the violation on the public, the net worth of the violator, and any other factor the administrator or the court considers relevant to the determination of the civil penalty.
Renumbered from C.R.S. § 12-14.5-233 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1165, § 4, effective August 9.
This section is similar to former § 12-14.5-233 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-234 - Suspension, revocation, or nonrenewal of registration - definitions

(a)
In this section, "insolvent" means:
(1)
Having generally ceased to pay debts in the ordinary course of business other than as a result of good-faith dispute;
(2)
Being unable to pay debts as they become due; or
(3)
Being insolvent within the meaning of the federal bankruptcy law,
11 U.S.C. sec. 101
et seq., as amended.
(b)
In addition to the remedies otherwise available under this part 2, the administrator may suspend, revoke, or deny renewal of a provider's registration if:
(1)
A fact or condition exists that, if it had existed when the registrant applied for registration as a provider, would have been a reason for denying registration;
(2)
The provider has committed a material violation of this part 2 or a rule or order of the administrator under this part 2;
(3)
The provider is insolvent;
(4)
The provider or an employee or affiliate of the provider has refused to permit the administrator to make an examination authorized by this part 2, failed to comply with section
5-19-232(b)(2)
within fifteen days after request, or made a material misrepresentation or omission in complying with section
5-19-232(b)(2)
; or
(5)
The provider has not responded within a reasonable time and in an appropriate manner to communications from the administrator.
(c)
If a provider does not comply with section
5-19-222(f)
or if the administrator otherwise finds that the public health, safety, or general welfare requires emergency action, the administrator may order a summary suspension of the provider's registration, effective on the date specified in the order.
(d)
If the administrator suspends, revokes, or denies renewal of the registration of a provider, the administrator may seek a court order authorizing seizure of any or all of the money in a trust account required by section
5-19-222
, books, records, accounts, and other property of the provider that are located in this state.
(e)
If the administrator suspends or revokes a provider's registration, the provider may appeal and request a hearing pursuant to section
24-4-105
.
Renumbered from C.R.S. § 12-14.5-234 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1166, § 4, effective August 9.
This section is similar to former § 12-14.5-234 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-235 - Private enforcement

(a)
If an individual voids an agreement pursuant to section
5-19-225(b)
, the individual may recover in a civil action all money paid or deposited by or on behalf of the individual pursuant to the agreement, except amounts paid to creditors, in addition to the recovery under subsections (c)(3) and (c)(4) of this section.
(b)
If an individual voids an agreement pursuant to section
5-19-225(a)
, the individual may recover in a civil action three times the total amount of the fees, charges, money, and payments made by the individual to the provider, in addition to the recovery under subsection (c)(4) of this section.
(c)
Subject to subsection (d) of this section, an individual with respect to whom a provider violates this part 2 may recover in a civil action from the provider and any person that caused the violation:
(1)
Compensatory damages for injury, including noneconomic injury, caused by the violation;
(2)
Except as otherwise provided in subsection (d) of this section, with respect to a violation of section
5-19-217
,
5-19-219
to
5-19-224
,
5-19-227
, or
5-19-228(a), (b), or (d)
, the greater of the amount recoverable under subsection (c)(1) of this section or five thousand dollars;
(3)
Punitive damages; and
(4)
Reasonable attorney fees and costs.
(d)
In a class action, except for a violation of section
5-19-228(a)(4)
, the minimum damages provided in subsection (c)(2) of this section do not apply.
(e)
In addition to the remedy available under subsection (c) of this section, if a provider violates an individual's rights under section
5-19-220
, the individual may recover in a civil action all money paid or deposited by or on behalf of the individual pursuant to the agreement, except for amounts paid to creditors.
(f)
A provider is not liable under this section for a violation of this part 2 if the provider proves that the violation was not intentional and resulted from a good-faith error notwithstanding the maintenance of procedures reasonably adapted to avoid the error. An error of legal judgment with respect to a provider's obligations under this part 2 is not a good-faith error. If, in connection with a violation, the provider has received more money than authorized by an agreement or this part 2, the defense provided by this subsection (f) is not available unless the provider refunds the excess within two business days after learning of the violation.
(g)
The administrator shall assist an individual in enforcing a judgment against the surety bond or other security provided under section
5-19-213
or
5-19-214
.
Renumbered from C.R.S. § 12-14.5-235 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1167, § 4, effective August 9.
This section is similar to former § 12-14.5-235 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-236 - Violation of unfair or deceptive practices statute

If an act or practice of a provider violates both this part 2 and section
6-1-105
, an individual may not recover under both for the same act or practice.
Renumbered from C.R.S. § 12-14.5-236 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1168, § 4, effective August 9.
This section is similar to former § 12-14.5-236 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-237 - Statute of limitations

(a)
An action or proceeding brought pursuant to section
5-19-233(a), (b), or (c)
shall be commenced within four years after the conduct that is the basis of the administrator's complaint.
(b)
An action brought pursuant to section
5-19-235
shall be commenced within two years after the latest of:
(1)
The individual's last transmission of money to a provider;
(2)
The individual's last transmission of money to a creditor at the direction of the provider;
(3)
The provider's last disbursement to a creditor of the individual;
(4)
The provider's last accounting to the individual pursuant to section
5-19-227(a)
;
(5)
The date on which the individual discovered or reasonably should have discovered the facts giving rise to the individual's claim; or
(6)
Termination of actions or proceedings by the administrator with respect to a violation of this part 2.
(c)
The period prescribed in subsection (b)(5) of this section is tolled during any period during which the provider or, if different, the defendant has materially and willfully misrepresented information required by this part 2 to be disclosed to the individual, if the information so misrepresented is material to the establishment of the liability of the defendant under this part 2.
Renumbered from C.R.S. § 12-14.5-237 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1168, § 4, effective August 9.
This section is similar to former § 12-14.5-237 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-238 - Uniformity of application and construction

In applying and construing this part 2, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Renumbered from C.R.S. § 12-14.5-238 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1169, § 4, effective August 9.
This section is similar to former § 12-14.5-238 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-239 - Relation to federal "Electronic Signatures in Global and National Commerce Act"

This part 2 modifies, limits, and supersedes the federal "Electronic Signatures in Global and National Commerce Act",
15 U.S.C. sec. 7001
et seq., but does not modify, limit, or supersede section 101 (c) of that act,
15 U.S.C. sec. 7001(c)
, or authorize electronic delivery of any of the notices described in section 103 (b) of that act,
15 U.S.C. sec. 7003(b)
.
Renumbered from C.R.S. § 12-14.5-239 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1169, § 4, effective August 9.
This section is similar to former § 12-14.5-239 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-240 - Transitional provisions - application to existing transactions

Transactions entered into before January 1, 2008, and the rights, duties, and interests resulting from them may be completed, terminated, or enforced as required or permitted by a law amended, repealed, or modified by this part 2 as though the amendment, repeal, or modification had not occurred.
Renumbered from C.R.S. § 12-14.5-240 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1169, § 4, effective August 9.
This section is similar to former § 12-14.5-240 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-241 - Severability

If any provision of this part 2 or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this part 2 that can be given effect without the invalid provision or application, and to this end the provisions of this part 2 are severable.
Renumbered from C.R.S. § 12-14.5-241 and amended by 2017 Ch. 260,§ 4, eff. 8/9/2017.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1169, § 4, effective August 9.
This section is similar to former § 12-14.5-241 as it existed prior to 2017.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-242 - [Effective Until 8/7/2024] Repeal of part

This part 2 is repealed, effective September 1, 2024. Prior to repeal, the department of regulatory agencies shall review the functions of the administrator pursuant to this part 2 and the registration of providers as provided for in section
24-34-104
.
Renumbered from C.R.S. § 12-14.5-242 and amended by 2017 Ch. 260, §4, eff. 8/9/2017.
Amended by 2015 Ch. 287, §2, eff. 6/5/2015.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1169, § 4, effective August 9.
This section is similar to former § 12-14.5-242 as it existed prior to 2017.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 19 - DEBT-MANAGEMENT SERVICES (§§ 5-19-101 — 5-19-242) › Part 2 - UNIFORM DEBT-MANAGEMENT SERVICES ACT (§§ 5-19-201 — 5-19-242) › Section 5-19-242 - [Effective 8/7/2024] Repeal of part

This part 2 is repealed, effective September 1, 2035. Before the repeal, the department of regulatory agencies shall review the functions of the administrator pursuant to this part 2 and the registration of providers as provided for in section
24-34-104
.
Amended by 2024 Ch. 226,§ 2, eff. 8/7/2024.
Renumbered from C.R.S. § 12-14.5-242 and amended by 2017 Ch. 260, §4, eff. 8/9/2017.
Amended by 2015 Ch. 287, §2, eff. 6/5/2015.
L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1169, § 4, effective August 9.
This section is similar to former § 12-14.5-242 as it existed prior to 2017.
2024 Ch. 226, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 20 - COLORADO STUDENT LOAN EQUITY (§§ 5-20-101 — 5-20-214) › Part 1 - COLORADO STUDENT LOANS (§§ 5-20-101 — 5-20-119) › Section 5-20-101 - Short title

The short title of this article 20 is the "Colorado Student Loan Equity Act".
Amended by 2021 Ch. 378,§ 2, eff. 6/29/2021.
Added by 2019 Ch. 157,§ 2, eff. 8/2/2019.
Section 19 of chapter 378 (SB 21-057), Session Laws of Colorado 2021, provides that the act changing this section applies to conduct occurring on or after June 29, 2021, including collection of debts arising out of loans issued before June 29, 2021.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 20 - COLORADO STUDENT LOAN EQUITY (§§ 5-20-101 — 5-20-214) › Part 1 - COLORADO STUDENT LOANS (§§ 5-20-101 — 5-20-119) › Section 5-20-102 - Scope of article - residence of debtor

(1)
This part 1 applies to any person engaged in servicing a student education loan owed by an individual who is a resident of this state. For the purposes of this article 20, the residence of an individual is the address given by the individual as the individual's residence to the creditor or to the student loan servicer. Until an individual notifies the creditor or the student loan servicer of a new or different address, the given address is presumed to be unchanged.
(2)
Part 2 of this article 20 applies to private education creditors and collection agencies in connection with student education loans that are not made, insured, or guaranteed under federal law and that are used for postsecondary education.
Amended by 2023 Ch. 360,§ 15, eff. 8/7/2023.
Amended by 2021 Ch. 378, §3, eff. 6/29/2021.
Added by 2019 Ch. 157, §2, eff. 8/2/2019.
L. 2019: Entire article added, (SB 19-002), ch. 1856, p. 1856, § 2, effective August 2.
Section 19 of chapter 378 (SB 21-057), Session Laws of Colorado 2021, provides that the act changing this section applies to conduct occurring on or after June 29, 2021, including collection of debts arising out of loans issued before June 29, 2021.
2023 Ch. 360, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 20 - COLORADO STUDENT LOAN EQUITY (§§ 5-20-101 — 5-20-214) › Part 1 - COLORADO STUDENT LOANS (§§ 5-20-101 — 5-20-119) › Section 5-20-105 - License required

On or after January 31, 2020, a person shall not act as a student loan servicer, directly or indirectly, without first obtaining a student loan servicing license from the administrator pursuant to this part 1.
Amended by 2021 Ch. 378,§ 7, eff. 6/29/2021.
Added by 2019 Ch. 157,§ 2, eff. 8/2/2019.
L. 2019: Entire article added, (SB 19-002), ch. 1860, p. 1860, § 2, effective August 2.
Section 19 of chapter 378 (SB 21-057), Session Laws of Colorado 2021, provides that the act changing this section applies to conduct occurring on or after June 29, 2021, including collection of debts arising out of loans issued before June 29, 2021.
2023 Colorado Revised Statutes › Title 5 - CONSUMER CREDIT CODE (§§ 5-1-101 — 5-21-116) › DEBT MANAGEMENT (§§ 5-16-101 — 5-21-116) › Article 20 - COLORADO STUDENT LOAN EQUITY (§§ 5-20-101 — 5-20-214) › Part 1 - COLORADO STUDENT LOANS (§§ 5-20-101 — 5-20-119) › Section 5-20-107 - License and investigation fees

(1)
A person applying for licensure under section
5-20-106(1) or (2)
shall pay the following nonrefundable fees established by the administrator:
(a)
Initial license fee of at least one thousand dollars;
(b)
Annual renewal fee of at least one thousand dollars; and
(c)
Investigation fee.
(2)
The administrator shall determine the amount of the fees required in this section and may periodically reduce or increase the amount of one or more of the fees if necessary pursuant to section
24-75-402(3) and (4)
, to reduce the uncommitted reserves of the fund created in section
5-20-104(3)
. The fund is subject to the maximum reserve established in section
24-75-402
.
Added by 2019 Ch. 157,§ 2, eff. 8/2/2019.
L. 2019: Entire article added, (SB 19-002), ch. 1865, p. 1865, § 2, effective August 2.