Colorado § 5-1-107 Effect of code on powers of organizations

Colorado Statutes

§ 5-1-107 — Effect of code on powers of organizations

Colorado § 5-1-107

Title 05Consumer

Art.General Provisions and Definitions

This text of Colorado § 5-1-107 (Effect of code on powers of organizations) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 5-1-107 (2026).

Text

(1)This code prescribes maximum charges for all creditors extending consumer credit except lessors and those excluded in sections 5-1-202 and 5-2-213 and displaces existing limitations on the powers of those creditors based on maximum charges.

(2)With respect to sellers of goods or services, small loan companies, licensed lenders, consumer and sales finance companies, loan companies, and commercial banks and trust companies, this code displaces existing limitations on their powers based solely on amount or duration of credit.

(3)Except as provided in subsection (1) of this section, this code does not displace limitations on powers of credit unions, savings banks, savings and loan associations, or other thrift institutions whether organized for the profit of shareholders or as

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(1) This code prescribes
maximum charges for all creditors extending consumer credit except lessors and
those excluded in sections 5-1-202 and 5-2-213 and displaces existing limitations
on the powers of those creditors based on maximum charges.

(2) With respect to sellers of goods or services, small loan companies,
licensed lenders, consumer and sales finance companies, loan companies, and
commercial banks and trust companies, this code displaces existing limitations on
their powers based solely on amount or duration of credit.

(3) Except as provided in subsection (1) of this section, this code does not
displace limitations on powers of credit unions, savings banks, savings and loan
associations, or other thrift institutions whether organized for the profit of
shareholders or as mutual organizations.

(4) Except as provided in subsections (1) and (2) of this section, this code
does not displace:

(a) Limitations on powers of supervised financial organizations, as defined in
section 5-1-301 (45), with respect to the amount of a loan to a single borrower, the
ratio of a loan to the value of collateral, the duration of a loan secured by an
interest in land, or other similar restrictions designed to protect deposits; or

(b) Limitations on powers an organization is authorized to exercise under the
laws of this state or the United States.

Legislative History

Source: L. 2000: Entire article R&RE, p. 1180, � 1, effective July 1. L. 2013: (2) amended, (SB 13-154), ch. 282, p. 1468, �19, effective July 1. L. 2023: (1) amended, (HB 23-1229), ch. 375, p. 2245, � 4, effective July 1, 2024.