reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 9 - COLORADO NO-CALL LIST ACT (§§ 6-1-901 — 6-1-908) › Section 6-1-908 - Severability

If any provision of this part 9 or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this part 9 which can be given effect without the invalid provision or application, and to this end the provisions of this part 9 are declared to be severable.
L. 2001: Entire part added, p. 1460, § 1, effective August 8.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 1 - GENERAL PROVISIONS (§§ 6-1-1101 — 6-1-1103) › Section 6-1-1101 - Short title

This part 11 shall be known and may be cited as the "Colorado Foreclosure Protection Act".
L. 2006: Entire part added, p. 1330, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 1 - GENERAL PROVISIONS (§§ 6-1-1101 — 6-1-1103) › Section 6-1-1102 - Legislative declaration

The general assembly hereby finds, determines, and declares that home ownership and the accumulation of equity in one's home provide significant social and economic benefits to the state and its citizens. Unfortunately, too many home owners in financial distress, especially the poor, elderly, and financially unsophisticated, are vulnerable to a variety of deceptive or unconscionable business practices designed to dispossess them or otherwise strip the equity from their homes. There is a compelling need to curtail and to prevent the most deceptive and unconscionable of these business practices, to provide each home owner with information necessary to make an informed and intelligent decision regarding transactions with certain foreclosure consultants and equity purchasers, to provide certain minimum requirements for contracts between such parties, including statutory rights to cancel such contracts, and to ensure and foster fair dealing in the sale and purchase of homes in foreclosure. Therefore, it is the intent of the general assembly that all violations of this part 11 have a significant public impact and that the terms of this part 11 be liberally construed to achieve these purposes.
L. 2006: Entire part added, p. 1330, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 2 - FORECLOSURE CONSULTANTS (§§ 6-1-1104 — 6-1-1110) › Section 6-1-1105 - Right of cancellation

(1)
In addition to any right of rescission available under state or federal law, the home owner has the right to cancel a foreclosure consulting contract at any time.
(2)
Cancellation occurs when the home owner gives written notice of cancellation of the foreclosure consulting contract to the foreclosure consultant at the address specified in the contract or through any facsimile or electronic mail address identified in the contract or other materials provided to the home owner by the foreclosure consultant.
(3)
Notice of cancellation, if given by mail, is effective when deposited in the United States mail, properly addressed, with postage prepaid.
(4)
Notice of cancellation need not be in the form provided with the contract and is effective, however expressed, if it indicates the intention of the home owner to cancel the foreclosure consulting contract.
(5)
As part of the cancellation of a foreclosure consulting contract, the home owner shall repay, within sixty days after the date of cancellation, all funds paid or advanced in good faith prior to the receipt of notice of cancellation by the foreclosure consultant or associate under the terms of the foreclosure consulting contract, together with interest at the prime rate published by the federal reserve plus two percentage points, with the total interest rate not to exceed eight percent per year, from the date of expenditure until repaid by the home owner.
(6)
The right to cancel may not be conditioned on the repayment of any funds.
L. 2006: Entire part added, p. 1336, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 2 - FORECLOSURE CONSULTANTS (§§ 6-1-1104 — 6-1-1110) › Section 6-1-1106 - Waiver of rights - void

(1)
A provision in a foreclosure consulting contract is void as against public policy if the provision attempts or purports to:
(a)
Waive any of the rights specified in this subpart 2 or the right to a jury trial;
(b)
Consent to jurisdiction for litigation or choice of law in a state other than Colorado;
(c)
Consent to venue in a county other than the county in which the property is located; or
(d)
Impose any costs or fees greater than the actual costs and fees.
L. 2006: Entire part added, p. 1337, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 2 - FORECLOSURE CONSULTANTS (§§ 6-1-1104 — 6-1-1110) › Section 6-1-1107 - Prohibited acts

(1)
A foreclosure consultant may not:
(a)
Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that the foreclosure consultant would perform;
(b)
Claim, demand, charge, collect, or receive any interest or any other compensation for a loan that the foreclosure consultant makes to the home owner that exceeds the prime rate published by the federal reserve at the time of any loan plus two percentage points, with the total interest rate not to exceed eight percent per year;
(c)
Take a wage assignment, lien of any type on real or personal property, or other security to secure the payment of compensation;
(d)
Receive any consideration from a third party in connection with foreclosure consulting services provided to a home owner unless the consideration is first fully disclosed in writing to the home owner;
(e)
Acquire an interest, directly, indirectly, or through an associate, in the real or personal property of a home owner with whom the foreclosure consultant has contracted;
(f)
Obtain a power of attorney from a home owner for any purpose other than to inspect documents as provided by law; or
(g)
Induce or attempt to induce a home owner to enter into a foreclosure consulting contract that does not comply in all respects with this subpart 2.
L. 2006: Entire part added, p. 1337, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 2 - FORECLOSURE CONSULTANTS (§§ 6-1-1104 — 6-1-1110) › Section 6-1-1108 - Criminal penalties

A person who violates section
6-1-1107
is guilty of a misdemeanor, as defined in section
18-1.3-504
, C.R.S., and shall be subject to imprisonment in county jail for up to one year, a fine of up to twenty-five thousand dollars, or both.
L. 2006: Entire part added, p. 1338, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 2 - FORECLOSURE CONSULTANTS (§§ 6-1-1104 — 6-1-1110) › Section 6-1-1109 - Unconscionability

(1)
A foreclosure consultant or associate may not facilitate or engage in any transaction that is unconscionable given the terms and circumstances of the transaction.
(2)
(a)
If a court, as a matter of law, finds a foreclosure consultant contract or any clause of such contract to have been unconscionable at the time it was made, the court may refuse to enforce the contract, enforce the remainder of the contract without the unconscionable clause, or so limit the application of any unconscionable clause as to avoid an unconscionable result.
(b)
When it is claimed or appears to the court that a foreclosure consultant contract or any clause of such contract may be unconscionable, the parties shall be afforded a reasonable opportunity to present evidence as to its commercial setting, purpose, and effect, to aid the court in making the determination.
(c)
In order to support a finding of unconscionability, there must be evidence of some bad faith overreaching on the part of the foreclosure consultant or associate such as that which results from an unreasonable inequality of bargaining power or other circumstances in which there is an absence of meaningful choice for one of the parties, together with contract terms that are, under standard industry practices, unreasonably favorable to the foreclosure consultant or associate.
L. 2006: Entire part added, p. 1338, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 2 - FORECLOSURE CONSULTANTS (§§ 6-1-1104 — 6-1-1110) › Section 6-1-1110 - Language

A foreclosure consulting contract, and all notices of cancellation provided for therein, shall be written in English and shall be accompanied by a written translation from English into any other language principally spoken by the home owner, certified by the person making the translation as a true and correct translation of the English version. The translated version shall be presumed to have equal status and credibility as the English version.
L. 2006: Entire part added, p. 1338, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1111 - Written contract required

Every contract shall be written in at least nine-point, legible type and fully completed, signed, and dated by the home owner and equity purchaser prior to the execution of any instrument quit-claiming, assigning, transferring, conveying, or encumbering an interest in the residence in foreclosure.
L. 2006: Entire part added, p. 1338, § 1, effective May 30. L. 2010: Entire section amended, (HB 10 -1133), ch. 350, p. 1616, § 4, effective 1/1/2011.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1112 - Written contract - contents - notice

(1)
Every contract shall contain the entire agreement of the parties and shall include the following terms:
(a)
The name, business address, and telephone number of the equity purchaser;
(b)
The street address and full legal description of the residence in foreclosure;
(c)
Clear and conspicuous disclosure of any financial or legal obligations of the home owner that will be assumed by the equity purchaser. If the equity purchaser will not be assuming any financial or legal obligations of the home owner, the equity purchaser shall provide to the home owner a separate written disclosure that substantially complies with section
18-5-802 (6)
, C.R.S.
(d)
The total consideration to be paid by the equity purchaser in connection with or incident to the acquisition by the equity purchaser of the residence in foreclosure;
(e)
The terms of payment or other consideration, including, but not limited to, any services of any nature that the equity purchaser represents will be performed for the home owner before or after the sale;
(f)
The date and time when possession of the residence in foreclosure is to be transferred to the equity purchaser;
(g)
The terms of any rental agreement or lease;
(h)
The specifications of any option or right to repurchase the residence in foreclosure, including the specific amounts of any escrow deposit, down payment, purchase price, closing costs, commissions, or other fees or costs;
(i)
A notice of cancellation as provided in section
6-1-1114
; and
(j)
The following notice, in at least nine-point bold-faced type, and completed with the name of the equity purchaser, immediately above the statement required by section
6-1-1114
:
NOTICE REQUIRED BY COLORADO LAW
Until your right to cancel this contract has ended, (Name) or anyone working for ___________________ (Name) CANNOT ask you to sign or have you sign any deed or any other document.
(2)
The contract required by this section survives delivery of any instrument of conveyance of the residence in foreclosure, but does not have any effect on persons other than the parties to the contract or affect title to the residence in foreclosure.
L. 2006: Entire part added, p. 1339, § 1, effective May 30. L. 2010: IP(1)(j) amended, (HB 10 -1133), ch. 350, p. 1617, § 5, effective 1/1/2011.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1113 - Cancellation

(1)
In addition to any right of rescission available under state or federal law, the home owner has the right to cancel a contract with an equity purchaser until 12 midnight of the third business day following the day on which the home owner signs a contract that complies with this part 11 or until 12 noon on the day before the foreclosure sale of the residence in foreclosure, whichever occurs first.
(2)
Cancellation occurs when the home owner personally delivers written notice of cancellation to the address specified in the contract or upon deposit of such notice in the United States mail, properly addressed, with postage prepaid.
(3)
A notice of cancellation given by the home owner need not take the particular form as provided with the contract and, however expressed, is effective if it indicates the intention of the home owner not to be bound by the contract.
(4)
In the absence of any written notice of cancellation from the home owner, the execution by the home owner of a deed or other instrument of conveyance of an interest in the residence in foreclosure to the equity purchaser after the expiration of the rescission period creates a rebuttable presumption that the home owner did not cancel the contract with the equity purchaser.
L. 2006: Entire part added, p. 1340, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1114 - Notice of cancellation

(1)
(a)
The contract shall contain, as the last provision before the space reserved for the home owner's signature, a conspicuous statement in at least twelve-point bold-faced type, as follows:
You may cancel this contract for the sale of your house without any penalty or obligation at any time before ___________________ (Date and time of day). See the attached notice of cancellation form for an explanation of this right.
(b)
The equity purchaser shall accurately specify the date and time of day on which the cancellation right ends.
(2)
The contract shall be accompanied by duplicate completed forms, captioned "notice of cancellation" in at least nine-point bold-faced type if the contract is printed or in capital letters if the contract is typed, followed by a space in which the equity purchaser shall enter the date on which the home owner executed the contract. Such form shall:
(a)
Be attached to the contract;
(b)
Be easily detachable; and
(c)
Contain the following statement, in at least nine-point type if the contract is printed or in capital letters if the contract is typed:
NOTICE OF CANCELLATION
___________________ (Enter date contract signed). You may cancel this contract for the sale of your house, without any penalty or obligation, at any time before ___________________ (Enter date and time of day). To cancel this transaction, personally deliver a signed and dated copy of this Notice of Cancellation in the United States mail, postage prepaid, to ___________________, (Name of purchaser) at ___________________ (Street address of purchaser's place of business) NOT LATER THAN ___________________ (Enter date and time of day). I hereby cancel this transaction ___________________ (Date) ___________________ (Seller's signature)
(3)
The equity purchaser shall provide the home owner with a copy of the contract and the attached notice of cancellation.
(4)
Until the equity purchaser has complied with this section, the home owner may cancel the contract.
L. 2006: Entire part added, p. 1340, § 1, effective May 30. L. 2010: IP(2) and IP(2)(c) amended, (HB 10 -1133), ch. 350, p. 1617, § 6, effective 1/1/2011.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1115 - Options through reconveyances

(1)
A transaction in which a home owner purports to grant a residence in foreclosure to an equity purchaser by an instrument that appears to be an absolute conveyance and reserves to the home owner or is given by the equity purchaser an option to repurchase shall be permitted only where all of the following conditions have been met:
(a)
The reconveyance contract complies in all respects with section
6-1-1112
;
(b)
The reconveyance contract provides the home owner with a nonwaivable thirty-day right to cure any default of said reconveyance contract and specifies that the home owner may exercise this right to cure on at least three separate occasions during such reconveyance contract;
(c)
The equity purchaser fully assumes or discharges the lien in foreclosure as well as any prior liens that will not be extinguished by such foreclosure, which assumption or discharge shall be accomplished without violation of the terms and conditions of the liens being assumed or discharged;
(d)
The equity purchaser verifies and can demonstrate that the home owner has or will have a reasonable ability to make the lease payments and to repurchase the residence in foreclosure within the term of the option to repurchase under the reconveyance contract. For purposes of this section, there is a rebuttable presumption that the home owner has a reasonable ability to make lease payments and to repurchase the residence in foreclosure if the home owner's payments for primary housing expenses and regular principal and interest payments on other personal debt do not exceed sixty percent of the home owner's monthly gross income; and
(e)
The price the home owner must pay to exercise the option to repurchase the residence in foreclosure is not unconscionable. Without limitation on available claims under section
6-1-1119
, a repurchase price exceeding twenty-five percent of the price at which the equity purchaser acquired the residence in foreclosure creates a rebuttable presumption that the reconveyance contract is unconscionable. The acquisition price paid by the equity purchaser may include any actual costs incurred by the equity purchaser in acquiring the residence in foreclosure.
L. 2006: Entire part added, p. 1341, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1116 - Waiver of rights - void

(1)
A provision in a contract between an equity purchaser and home owner is void as against public policy if it attempts or purports to:
(a)
Waive any of the rights specified in this subpart 3 or the right to a jury trial;
(b)
Consent to jurisdiction for litigation or choice of law in a state other than Colorado;
(c)
Consent to venue in a county other than the county in which the property is located; or
(d)
Impose any costs or fees greater than the actual costs and fees.
L. 2006: Entire part added, p. 1342, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1117 - Prohibited conduct

(1)
The contract provisions required by sections
6-1-1111
to
6-1-1114
shall be provided and completed in conformity with such sections by the equity purchaser.
(2)
Until the time within which the home owner may cancel the transaction has fully elapsed, the equity purchaser shall not do any of the following:
(a)
Accept from a home owner an execution of, or induce a home owner to execute, an instrument of conveyance of any interest in the residence in foreclosure;
(b)
Record with the county recorder any document, including, but not limited to, the contract or any lease, lien, or instrument of conveyance, that has been signed by the home owner;
(c)
Transfer or encumber or purport to transfer or encumber an interest in the residence in foreclosure to a third party; or
(d)
Pay the home owner any consideration.
(3)
Within ten days following receipt of a notice of cancellation given in accordance with sections
6-1-1113
and
6-1-1114
, the equity purchaser shall return without condition the original contract and any other documents signed by the home owner.
(4)
An equity purchaser shall make no untrue or misleading statements of material fact regarding the value of the residence in foreclosure, the amount of proceeds the home owner will receive after a foreclosure sale, any contract term, the home owner's rights or obligations incident to or arising out of the sale transaction, the nature of any document that the equity purchaser induces the home owner to sign, or any other untrue or misleading statement concerning the sale of the residence in foreclosure to the equity purchaser.
L. 2006: Entire part added, p. 1342, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1118 - Criminal penalties

A person who violates section
6-1-1117(2) or (3)
or who intentionally violates section
6-1-1117(4)
is guilty of a misdemeanor, as defined in section
18-1.3-504
, C.R.S., and shall be subject to imprisonment in county jail for up to one year, a fine of up to twenty-five thousand dollars, or both.
L. 2006: Entire part added, p. 1343, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1119 - Unconscionability

(1)
An equity purchaser or associate may not facilitate or engage in any transaction that is unconscionable given the terms and circumstances of the transaction.
(2)
(a)
If a court, as a matter of law, finds an equity purchaser contract or any clause of such contract to have been unconscionable at the time it was made, the court may refuse to enforce the contract, enforce the remainder of the contract without the unconscionable clause, or so limit the application of any unconscionable clause as to avoid an unconscionable result.
(b)
When it is claimed or appears to the court that the contract or any clause thereof may be unconscionable, the parties shall be afforded a reasonable opportunity to present evidence as to its commercial setting, purpose, and effect, to aid the court in making the determination.
(c)
In order to support a finding of unconscionability, there must be evidence of some bad faith overreaching on the part of the equity purchaser or associate such as that which results from an unreasonable inequality of bargaining power or under other circumstances in which there is an absence of meaningful choice for one of the parties, together with contract terms that are, under standard industry practices, unreasonably favorable to the equity purchaser or associate.
L. 2006: Entire part added, p. 1343, § 1, effective May 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1120 - Language

(1)
Any contract, rental agreement, lease, option or right to repurchase, and any notice, conveyance, lien, encumbrance, consent, or other document or instrument signed by a home owner, shall be written in English; except that, if the equity purchaser has actual or constructive knowledge that the home owner's principal language is other than English, the home owner shall be provided with a notice, written in the home owner's principal language, substantially as follows:
This transaction involves important and complex legal consequences, including your right to cancel this transaction within three business days following the date you sign this contract. You should consult with an attorney or seek assistance from a housing counselor by calling the Colorado foreclosure hotline at _________________
[current, correct telephone number].
(2)
If a notice in the home owner's principal language is required to be provided under subsection (1) of this section, the notice shall be given to the home owner as a separate document accompanying the written contract required by section
6-1-1111
.
L. 2006: Entire part added, p. 1343, § 1, effective May 30. L. 2010: Entire section amended, (HB 10 -1133), ch. 350, p. 1617, § 7, effective 1/1/2011.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 11 - COLORADO FORECLOSURE PROTECTION ACT (§§ 6-1-1101 — 6-1-1121) › Subpart 3 - EQUITY PURCHASERS (§§ 6-1-1111 — 6-1-1121) › Section 6-1-1121 - Short sales - subsequent purchaser - definition

(1)
With respect to any short sale transaction in which an equity purchaser intends to resell the residence in foreclosure to a subsequent purchaser, the equity purchaser shall:
(a)
Provide full disclosure to the home owner and to the holders of the evidence of debt on the residence in foreclosure, or such holders' representatives, of the terms of the agreement between the equity purchaser and any subsequent purchaser, including but not limited to the purchase price to be paid by the subsequent purchaser for the residence in foreclosure, which disclosure shall be made within one business day of identifying any such subsequent purchaser and in no event later than closing on the short sale transaction;
(b)
Provide full disclosure to any subsequent purchaser and to any subsequent purchaser's lender, or such lender's representative, at the time of contract with the equity purchaser, of the terms of the agreement between the equity purchaser and the home owner, including but not limited to the purchase price paid by the equity purchaser for the residence in foreclosure;
(c)
Comply with all applicable rules adopted by the Colorado real estate commission with regard to short sales; and
(d)
Comply with section
38-35-125
, C.R.S.
(2)
As used in this section, a "subsequent purchaser" means any person who enters into a contract with an equity purchaser prior to the disbursement of the short sale transaction to acquire the residence in foreclosure and who acquires the residence in foreclosure within fourteen days after the disbursement of the short sale transaction.
L. 2010: Entire section added, (HB 10 -1133), ch. 350, p. 1618, § 8, effective 1/1/2011.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1201 - Short title

The short title of this part 12 is the "Colorado Peer-to-peer Car Sharing Act".
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3492, p. 3492, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1204 - Notification of implications of lien

When a car owner registers as a shared car owner on a car sharing program and before the shared car is made available for car sharing, the car sharing program shall notify the shared car owner that, if the shared car has a lien against it, the use of the shared car through a car sharing program, including use without physical damage coverage, may violate the terms of the contract with the lienholder.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3496, p. 3496, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1205 - Liability - exclusions for personal automobile liability insurance policy - indemnification

(1)
An authorized insurer may exclude coverage and the duty to defend or indemnify for any claim under a shared car owner's personal automobile liability insurance policy. This part 12 does not invalidate or limit an exclusion contained in an automobile liability insurance policy, including any insurance policy that excludes coverage for motor vehicles made available for rent, sharing, hire, or business use.
(2)
An automobile insurer of the shared car owner that defends or indemnifies a shared car claim has the right to contribution against the insurer of the car sharing program if the claim is:
(a)
Made against the shared car owner or the shared car driver for damages occurring during the sharing period; and
(b)
Excluded under the terms of the shared car owner's insurance policy.
Amended by 2020 Ch. 216, § 5, eff. 6/30/2020.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3496, p. 3496, § 1, effective 1/1/2020. L. 2020: IP(2) amended, (HB 20-1402), ch. 1041, p. 1041, § 5, effective June 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1206 - Prohibition on exclusion of coverage for car sharing

An automobile insurance company shall not exclude otherwise applicable uninsured or underinsured motorist coverage from a shared car driver's or passenger's personal automobile insurance policy because of the person's participation in car sharing.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3496, p. 3496, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1207 - Record keeping

A car sharing program shall collect and verify records concerning the use of a vehicle, including times used, fees paid by the shared car driver, and revenues received by the shared car owner. A car sharing program shall provide these records upon request to the shared car owner; to facilitate a claim investigation, to the shared car owner's insurer or the shared car driver's insurer; or as required by an airport concession agreement. The car sharing program shall retain these records for at least the duration of the applicable personal injury statute of limitations.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3496, p. 3496, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1208 - Federal law - vicarious liability

A car sharing program and a shared car owner are exempt from vicarious liability in accordance with
49 U.S.C. sec. 30106
and under any state or local law that imposes liability based only on vehicle ownership.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3497, p. 3497, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1209 - Insurable interest

(1)
A car sharing program shall have an insurable interest in a shared car during the sharing period. This section does not create liability for a car sharing program for failure to maintain the insurance coverage required in section
6-1-1203
if insurance coverage is maintained in compliance with section
6-1-1203
by the shared car driver or the shared car owner.
(2)
A car sharing program may own and maintain, as the named insured, one or more policies of automobile liability insurance that provide coverage in the amount of, in excess of, or optional to the amount of coverage required in this part 12. The coverage may include coverage for:
(a)
Liability assumed by the car sharing program under a car sharing agreement;
(b)
The liability of the shared car owner;
(c)
Damage or loss to the shared car; or
(d)
The liability of the shared car driver.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3497, p. 3497, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1210 - Required disclosures and notices

(1)
A car sharing program shall, for each shared car participating in a car sharing agreement on its platform, do all of the following:
(a)
Provide the shared car owner and the shared car driver with the terms and conditions of the car sharing agreement;
(b)
Disclose to the shared car driver any costs or fees that are charged to the shared car driver under the car sharing agreement;
(c)
Disclose to the shared car owner any costs or fees that are charged to the shared car owner under the car sharing agreement;
(d)
Provide an emergency telephone number for a person capable of facilitating roadside assistance to the shared car driver;
(e)
Disclose any right of the car sharing program to seek indemnification from the shared car owner or the shared car driver for economic loss sustained by the car sharing program caused by a breach of the car sharing agreement;
(f)
Disclose that an automobile liability insurance policy issued to the shared car owner for the shared car or to the shared car driver does not provide a defense or indemnification for any claim asserted by the car sharing program;
(g)
Disclose that the car sharing program's insurance coverage on the shared car owner and the shared car driver is in effect only during each sharing period and that the shared car may not have insurance coverage for use of the shared car by the shared car driver after the sharing termination time;
(h)
Disclose any insurance or protection package costs that are charged to the shared car owner or the shared car driver;
(i)
Disclose that the shared car owner's automobile liability insurance might not provide coverage for a shared car; and
(j)
Disclose to the shared car driver any conditions in which the shared car driver is required to maintain a personal automobile liability policy as the primary coverage for the shared car in order to drive a shared car.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3497, p. 3497, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1211 - Driver's license verification and data retention

(1)
A car sharing program shall not enter into a car sharing agreement with a shared car driver unless the driver:
(a)
Holds a driver's license, issued under article
2
of title
42
, that authorizes the driver to operate cars of the class of the shared car; or
(b)
Is a nonresident who is exempt from licensure under section
42-2-102
.
(2)
A car sharing program shall keep a record of:
(a)
The name and address of the shared car driver;
(b)
The number of the driver's license of each shared car driver; and
(c)
The date and place of issuance of the driver's license.
Amended by 2020 Ch. 216, § 6, eff. 6/30/2020.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3498, p. 3498, § 1, effective 1/1/2020. L. 2020: IP(1) amended, (HB 20-1402), ch. 1041, p. 1041, § 6, effective June 30.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1212 - Shared car equipment

A car sharing program is responsible for any equipment, including a GPS system, that is put in or on the car to monitor or facilitate the car sharing transaction. A car sharing program shall indemnify and hold harmless the shared car owner for any damage to or theft of the equipment during the sharing period, unless caused by the shared car owner. The car sharing program has the right to be indemnified from the shared car driver for any loss or damage to the equipment that occurs during the sharing period.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3498, p. 3498, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1213 - Safety recalls

(1)
When a shared car owner registers a shared car with a car sharing program and before the shared car is available for car sharing, the car sharing program shall:
(a)
Verify that the shared car does not have any open safety recalls for which the repairs have not been made; and
(b)
Notify the shared car owner of the requirements under subsection (2) of this section.
(2)
If the shared car owner has actual notice of a safety recall on the shared car, a shared car owner shall not make the shared car available with a car sharing program until the safety recall repair has been made.
(3)
If a shared car owner has actual notice of a safety recall on a shared car while available for sharing with a car sharing program, the shared car owner shall remove the shared car's availability with the car sharing program:
(a)
As soon as practicable, but no later than seventy-two hours, after receiving the notice of the safety recall; and
(b)
Until the safety recall repair has been made.
(4)
If a shared car owner has actual notice of a safety recall during the sharing period, the shared car owner shall notify both the shared car driver and the car sharing program about the safety recall.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3498, p. 3498, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1214 - Enabling operation at airport

(1)
A car sharing program shall enter into an airport concession agreement before enabling car sharing at the airport, unless the airport explicitly and in writing waives the right to require an agreement.
(2)
A car sharing program is enabling car sharing at an airport if the car sharing program or a shared car owner uses the car sharing program to:
(a)
List vehicles parked on airport property or at airport facilities;
(b)
Contract for transportation to or from airport facilities;
(c)
Facilitate the use of a shared car to transport airport passengers on or off of airport property; or
(d)
Promote or market a shared car to transport airport passengers on or off of airport property.
(3)
An airport concession agreement may impose the taxes and fees that are imposed on other concessionaires operating at the airport.
(4)
If a car sharing program fails to or refuses to enter into an airport concession agreement, the affected airport may seek an injunction prohibiting the car sharing program from operating at the airport and may seek damages and punitive damages against the car sharing program.
Added by 2019 Ch. 391, § 1, eff. 1/1/2020.
L. 2019: Entire part added, (SB 19-090), ch. 3499, p. 3499, § 1, effective 1/1/2020.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 12 - PEER-TO-PEER CAR SHARING ACT (§§ 6-1-1201 — 6-1-1215) › Section 6-1-1215 - Shared car accessibility

(1)
Effective January 1, 2028, at the time a shared car is first made available through a car sharing program, the program must enable the shared car owner to indicate whether the shared car has been modified for accessibility for individuals with disabilities.
(2)
If a shared car owner has indicated that the shared car has been modified for accessibility pursuant to subsection (1) of this section, the shared car owner shall list what modifications have been made, including what adaptive equipment is available.
(3)
A car sharing program that makes a reasonable effort to obtain accurate information from a shared car owner regarding any modification for accessibility is not liable for incorrect or false information provided by the shared car owner.
Added by 2024 Ch. 322,§ 1, eff. 6/3/2024.
2023 Colorado Revised Statutes › Title 6 - CONSUMER AND COMMERCIAL AFFAIRS (§§ 6-1-101 — 6-28-102) › FAIR TRADE AND RESTRAINT OF TRADE (§§ 6-1-101 — 6-6.5-101) › Article 1 - COLORADO CONSUMER PROTECTION ACT (§§ 6-1-101 — 6-1-1707) › Part 13 - COLORADO PRIVACY ACT (§§ 6-1-1301 — 6-1-1314) › Section 6-1-1301 - Short title

The short title of this part 13 is the "Colorado Privacy Act".
Added by 2021 Ch. 483, § 1, eff. 7/1/2023.