§ 5-6-110 — Assurance of discontinuance

Colorado § 5-6-110

• Jurisdiction: Colorado
• Title 05: Consumer
• Art.: Administration

Text

If it is claimed that a person has
engaged in conduct subject to an order by the administrator described in section 5-6-108 or by a court described in sections 5-6-111 to 5-6-113, 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 consumers of
excess charges under this code, pay a penalty up to a maximum of one thousand
dollars for each violation, 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 such person engaged in the
conduct described in the assurance.

Legislative History

Source: L. 2000: Entire article R&RE, p. 1248, � 1, effective July 1.