Colorado § 5-3.1-105 Authorized charges

Colorado Statutes

§ 5-3.1-105 — Authorized charges

Colorado § 5-3.1-105

Title 05Consumer

Art.Deferred Deposit Loan Act

This text of Colorado § 5-3.1-105 (Authorized charges) 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. § 5-3.1-105 (2026).

Text

A lender may charge a finance charge for
each deferred deposit loan or payday loan that must not exceed an annual
percentage rate of thirty-six percent. If the loan is prepaid prior to the maturity of
the loan term, the lender shall refund to the consumer a prorated portion of the
finance charge based upon the ratio of time left before maturity to the loan term. A
lender may charge only those charges expressly authorized in this article in
connection with a deferred deposit loan or payday loan.

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A lender may charge a finance charge for
each deferred deposit loan or payday loan that must not exceed an annual
percentage rate of thirty-six percent. If the loan is prepaid prior to the maturity of
the loan term, the lender shall refund to the consumer a prorated portion of the
finance charge based upon the ratio of time left before maturity to the loan term. A
lender may charge only those charges expressly authorized in this article in
connection with a deferred deposit loan or payday loan.

Legislative History

Source: L. 2000: Entire article added, p. 441, � 1, effective July 1. L. 2010: Entire section amended, (HB 10-1351), ch. 267, p. 1222, � 4, effective August 11. Initiated 2018: Entire section amended, Proposition 111, L. 2019, p. 4539, � 2, effective February 1, 2019, proclamation of the Governor issued December 19, 2018.