Colorado § 5-2-301 Authority to make supervised loans

Colorado Statutes

§ 5-2-301 — Authority to make supervised loans

Colorado § 5-2-301

Title 05Consumer

Art.Finance Charges and Related Provisions

This text of Colorado § 5-2-301 (Authority to make supervised loans) 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. § 5-2-301 (2026).

Text

(1)Unless a person is a supervised financial organization or has first obtained a license from the administrator authorizing the person to make supervised loans, the person shall not engage in the business of:

(a)Making supervised loans or undertaking direct collection of payments from or enforcement of rights against consumers arising from supervised loans he or she has previously made; or

(b)Taking assignments of and undertaking direct collection of payments from or enforcement of rights against consumers arising from supervised loans, including servicing supervised loans; except that a person who is licensed by the administrator as a collection agency pursuant to article 16 of this title 5 or is licensed by the Colorado supreme court to practice law and who takes assignmen

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(1) Unless a person is a
supervised financial organization or has first obtained a license from the
administrator authorizing the person to make supervised loans, the person shall not
engage in the business of:

(a) Making supervised loans or undertaking direct collection of payments
from or enforcement of rights against consumers arising from supervised loans he
or she has previously made; or

(b) Taking assignments of and undertaking direct collection of payments
from or enforcement of rights against consumers arising from supervised loans,
including servicing supervised loans; except that a person who is licensed by the
administrator as a collection agency pursuant to article 16 of this title 5 or is
licensed by the Colorado supreme court to practice law and who takes assignment
of supervised loans only after such loans are in default is not required to obtain a
supervised lender license to engage in the activities described in this subsection
(1)(b).

Legislative History

Source: L. 2000: Entire article R&RE, p. 1206, � 1, effective July 1. L. 2006: (1)(b) amended, p. 530, � 1, effective April 18. L. 2017: (1)(b) amended, (HB 17-1238), ch. 260, p. 1170, � 6, effective August 9. L. 2023: IP(1) and (1)(b) amended, (SB 23-248), ch. 360, p. 2147, � 1, effective August 7.