§ 18-15-101 — Definitions

As used in this article, unless the context otherwise
requires:

(1) To collect an extension of credit means to induce in any way any person
to make repayment thereof.

(2) Creditor means any person who extends credit or any person claiming
by, under, or through any such person.

(3) Debtor means any person who receives an extension of credit or any
person who guarantees the repayment of an extension of credit or in any manner
undertakes to indemnify the creditor against loss resulting from the failure of any
person who receives an extension of credit to repay the same.

(4) To extend credit means to make or renew any loan or to enter into any
agreement, express or implied, whereby the repayment or satisfaction of any debt
or claim, whether acknowledged or disputed, valid or invalid, and however arising,
may or will be deferred.

(5) An extortionate means is any means which involves the use, or an
express or implicit threat of use, of violence or other criminal means to cause harm
to the person, reputation, or property of any person.

(6) (a) Loan finance charge means the sum of all charges payable directly
or indirectly by the debtor and imposed directly or indirectly by the lender as an
incident to or as a condition of the extension of credit, whether paid or payable by
the debtor, the lender, or any other person on behalf of the debtor to the lender or
to a third party, including, but not limited to, any of the following types of charges
that are applicable:

(I) Interest or any amount payable under a point, discount, or other system of
charges, however denominated;

(II) Premium or other charge for any guarantee of insurance protecting the
lender against the debtor's default or other credit loss;

(III) Charges incurred for investigating the collateral or credit-worthiness of
the debtor or for commissions or brokerage for obtaining the credit.

(b) The term does not include the charges as a result of additional charges
as defined in section 5-2-202, C.R.S., delinquency charges as defined in section 5-2-203, C.R.S., deferral charges as defined in section 5-2-204, C.R.S., similar charges
specifically authorized by law, or additional interest charges permitted by section
5-12-107 (3), C.R.S.

(7) Repayment of an extension of credit includes the repayment,
satisfaction, or discharge, in whole or in part, of any debt or claim, acknowledged or
disputed, valid or invalid, resulting from or in connection with that extension of
credit.

Legislative History

Source: L. 72: p. 288, � 3. C.R.S. 1963: � 40-15-101. L. 94: (6) amended, p. 1613, � 14, effective July 1. L. 96: (6) amended, p. 412, � 14, effective July 1. L. 2000: (6)(b) amended, p. 1872, � 109, effective August 2.