Colorado § 5-21-111 Assurance of discontinuance

Colorado Statutes

§ 5-21-111 — Assurance of discontinuance

Colorado·Title 05 Consumer·Art. Colorado Nonbank Mortgage Servicers Act

If it is claimed that a person has
violated this article 21, the administrator may accept an assurance in writing that
the person will not engage in the conduct in the future. The assurance may also
require the person to make refunds to individuals of unlawful charges under this
article 21, pay a penalty authorized in section 5-21-110, all or part of which may be
specifically designated for consumer and creditor educational purposes, and
reimburse the administrator for the administrator's reasonable costs incurred in
investigating the conduct. If a person giving an assurance of discontinuance fails to
comply with its terms, the assurance is evidence that prior to the assurance, that
person engaged in the conduct described in the assurance.

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If it is claimed that a person has
violated this article 21, the administrator may accept an assurance in writing that
the person will not engage in the conduct in the future. The assurance may also
require the person to make refunds to individuals of unlawful charges under this
article 21, pay a penalty authorized in section 5-21-110, all or part of which may be
specifically designated for consumer and creditor educational purposes, and
reimburse the administrator for the administrator's reasonable costs incurred in
investigating the conduct. If a person giving an assurance of discontinuance fails to
comply with its terms, the assurance is evidence that prior to the assurance, that
person engaged in the conduct described in the assurance.

Colorado § 5-21-111 (Assurance of discontinuance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.