§ 5-19-203 — Exempt agreements and persons

Colorado § 5-19-203

• Jurisdiction: Colorado
• Title 05: Consumer
• Art.: Debt-management Services

Text

(a) This part 2 does not apply
to an agreement with an individual who the provider has no reason to know resides
in this state at the time of the agreement.

(b) This part 2 does not apply to a provider to the extent that the provider:

(1) Provides or agrees to provide debt-management, educational, or
counseling services to an individual who the provider has no reason to know resides
in this state at the time the provider agrees to provide the services;

(2) Receives no compensation for debt-management services from or on
behalf of the individuals to whom it provides the services or from their creditors;

(3) Provides debt-management services only to persons that have incurred
debt in the conduct of business; or

(4) Is subject to the Colorado Foreclosure Protection Act, part 11 of article 1
of title 6.

(c) This part 2 does not apply to the following persons or their employees
when the person or the employee is engaged in the regular course of the person's
business or profession:

(1) A judicial officer, a person acting under an order of a court or an
administrative agency, or an assignee for the benefit of creditors;

(2) A bank;

(3) An affiliate, as defined in section 5-19-202 (2)(B)(i), of a bank if the
affiliate is regulated by a federal or state banking regulatory authority; or

(4) A title insurer, escrow company, or other person that provides bill-paying
services if the provision of debt-management services is incidental to the bill-paying services.

Legislative History

Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1140, � 4, effective August 9.