Colorado § 29-1-1102 Delinquency charges

Colorado Statutes

§ 29-1-1102 — Delinquency charges

Colorado·Title 29 Government·Art. Budget and Services

(1)Notwithstanding any other provision to the contrary, no local government shall impose a delinquency charge except as provided in this section.

(2)No delinquency charge may be collected by a local government on any amount due that is paid in full within five days after the scheduled due date.

(3)No delinquency charge shall exceed the amount of fifteen dollars or up to five percent per month, or fraction thereof, not to exceed a total of twenty-five percent of the amount due, whichever is greater.

(4)No more than the amount set forth in subsection (3) of this section shall be collected by a local government on any amount due regardless of the period of time during which the amount due remains in default.

(5)In the event that an amount due is one of a series of payments to

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(1) Notwithstanding any other provision to
the contrary, no local government shall impose a delinquency charge except as
provided in this section.

(2) No delinquency charge may be collected by a local government on any
amount due that is paid in full within five days after the scheduled due date.

(3) No delinquency charge shall exceed the amount of fifteen dollars or up
to five percent per month, or fraction thereof, not to exceed a total of twenty-five
percent of the amount due, whichever is greater.

(4) No more than the amount set forth in subsection (3) of this section shall
be collected by a local government on any amount due regardless of the period of
time during which the amount due remains in default.

(5) In the event that an amount due is one of a series of payments to be made
toward the satisfaction of a single fee, fine, penalty, or other charge assessed by a
local government, no more than the amount set forth in subsection (3) of this
section shall be collected by a local government on any one of such payments
regardless of the period of time during which the payment remains in default.

(6) No interest shall be assessed on a delinquency charge.

(7) Nothing in this section shall be construed to prohibit a local government
from charging interest on an amount due. In no event shall such interest be charged
upon a delinquency charge or any amount other than the amount due. In no event
shall any such interest charge exceed an annual percentage rate of eighteen
percent or the equivalent for a longer or shorter period of time. The provisions of
this subsection (7) restricting the charging of interest shall not apply to delinquent
interest imposed after a tax lien is sold at a tax lien sale pursuant to article 11 of
title 39, C.R.S.

(8) Nothing in this section shall be construed to prohibit a local government
from recovering the costs of collection, including but not limited to disconnection
or reconnection fees, reinstatement charges, or penalties assessed where fraud is
involved.

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