§ 5-16-120 — License - issuance - grounds for denial - appeal - contents

Colorado § 5-16-120

• Jurisdiction: Colorado
• Title 05: Consumer
• Art.: Colorado Fair Debt Collection Practices Act

Text

(1)
Upon the approval of the license application by the administrator and the
satisfaction of all application requirements, the administrator shall issue the
applicant a license to operate as a collection agency.

(2) The administrator may deny any application for a license or its renewal if
any grounds exist that would justify disciplinary action under section 5-16-127, for
failure to meet the requirements of section 5-16-119, or if the applicant, the
applicant's principals, or the applicant's collections manager have fraudulently
obtained or attempted to obtain a license.

(3) If any application for a license or its renewal is denied, the applicant may
appeal the decision pursuant to section 24-4-104.

(4) The license shall state the name of the licensee, location by street and
number or office building and room number, city, county, and state where the
licensee has his or her principal place of business, together with the number and
date of the license and the date of expiration of the license, and shall further state
that it is issued pursuant to this article 16 and that the licensee is duly authorized
under this article 16.

(5) The administrator may deny any application for a license or its renewal if
the collection agency has failed to perform the duties enumerated in section 5-16-123.

(6) The administrator may deny any application for a license or its renewal if
the collection agency does not have a positive net worth.

Legislative History

Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1095, � 1, effective August 9.