§ 5-2-502 — Finance charge for other transactions

With respect to a
transaction that is specifically exempt from the rate ceilings of this code by the
provisions of section 5-1-301 (15)(c), the parties may contract for the payment by
the consumer of any finance charge up to a rate not to exceed an annual
percentage rate of forty-five percent pursuant to section 18-15-104, C.R.S. The rate
of the finance charge shall be calculated on the unpaid balances of the debt on the
assumption that the debt will be paid according to its terms and will not be paid
before the end of the agreed term.

Legislative History

Source: L. 2000: Entire article R&RE, p. 1214, � 1, effective July 1.