2023 Colorado Revised Statutes › Title 11 - FINANCIAL INSTITUTIONS (§§ 11-1-101 — 11-111-116) › U.S. AGENCY OBLIGATIONS (§§ 11-60-101 — 11-61-102) › Article 61 - LEGAL TENDER (§§ 11-61-101 — 11-61-102) › Section 11-61-102 - Retailers' acceptance of United States currency - penalty - definitions

(1)
Except as provided in subsection (2) of this section, a retail establishment offering goods or services for sale shall accept United States currency, including federal reserve notes, from a buyer to purchase the goods or services.
(2)
(a)
This section applies to a retail establishment only if the establishment has an individual accepting payment in person for the goods and services being offered.
(b)
This section does not apply to a retail transaction in which the retail establishment requires that:
(I)
A security deposit be placed on a credit card; or
(II)
A credit card number be provided to cover unforeseen damages or expenses.
(c)
This section does not apply to a retail establishment that uses a device to convert a consumer's cash into a prepaid card allowing the consumer to complete a transaction at the retail establishment if:
(I)
The transaction does not include a fee;
(II)
The transaction does not require a minimum deposit amount greater than one dollar;
(III)
Upon request, the consumer is provided with a receipt indicating the amount of cash the consumer deposited onto the prepaid card; and
(IV)
The underlying money on the prepaid card is not subject to an expiration date and there is no limit on the number of transactions that may be completed using the prepaid card.
(d)
This section does not apply to a bank, as defined in section
11-101-401 (5)
, or a credit union, as defined in section
11-30-101 (1)(a)
.
(e)
This section does not apply to a retail establishment in which the retail establishment's primary method of selling goods or services is through an automatic renewal contract.
(f)
A retail establishment with more than one point of sale at a single address complies with this section if it accepts United States currency, including federal reserve notes, at no fewer than one point of sale at the address.
(3)
Failing to accept United States currency from a buyer as required by subsection (1) of this section is a civil infraction and, upon conviction, shall be punished by a fine of not more than two hundred fifty dollars per transaction or attempted transaction.
(4)
As used in this section, unless the context otherwise requires:
(a)
"Automatic renewal contract" has the meaning set forth in section
6-1-732 (1)(a)
.
(b)
"Retail establishment" means a business that:
(I)
Offers or sells goods or services to a consumer of the goods or services; and
(II)
Offers or sells the goods or services at a location with a building that has an address within Colorado.
(c)
"Security deposit" means a sum of money that one party to a contract deposits with another party to a contract for the purpose of securing the depositor's performance of obligations created by the contract.
Amended by 2022 Ch. 407, §1, eff. 8/10/2022.
Amended by 2021 Ch. 462, §800, eff. 3/1/2022.
Added by 2021 Ch. 125, §1, eff. 9/7/2021.
(1) Section 2 of chapter 125 (HB 21-1048), Session Laws of Colorado 2021, provides that the act adding this section applies to offenses committed on or after September 7, 2021.
(2) Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
2022 Ch. 407, was passed without a safety clause. See Colo. Const. art. V, § 1(3).