Colorado § 42-7-404 Payment of judgment in installments

Colorado Statutes

§ 42-7-404 — Payment of judgment in installments

Colorado·Title 42 Vehicles and·Art. Motor Vehicle Financial Responsibility Law

(1)The director shall not suspend a license and shall restore any suspended license following nonpayment of a final judgment when the judgment debtor gives proof of financial responsibility and obtains an order from the trial court in which such judgment was rendered permitting the payment of such judgment in installments of not less than twenty-five dollars per month, while the payment of any said installment is not in default.

(2)A judgment debtor upon five days' notice to the judgment creditor may apply to the trial court in which the judgment was obtained for the privilege of paying such judgment in installments, and the court, in its discretion and without prejudice to any other legal remedies which the judgment creditor may have, may so order, fixing the amounts and times

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(1) The director shall not
suspend a license and shall restore any suspended license following nonpayment of
a final judgment when the judgment debtor gives proof of financial responsibility
and obtains an order from the trial court in which such judgment was rendered
permitting the payment of such judgment in installments of not less than twenty-five dollars per month, while the payment of any said installment is not in default.

(2) A judgment debtor upon five days' notice to the judgment creditor may
apply to the trial court in which the judgment was obtained for the privilege of
paying such judgment in installments, and the court, in its discretion and without
prejudice to any other legal remedies which the judgment creditor may have, may
so order, fixing the amounts and times of, and the person to receive, payment of the
installments.

(3) In the event the judgment debtor fails to pay any installment as
permitted by the order of the court, upon notice of such default supported by an
appropriate document from the court or by sworn affidavit of either the judgment
creditor or the person designated to receive payments, the director shall
immediately suspend the license of the judgment debtor until said judgment is
satisfied as provided in this article.

Colorado § 42-7-404 (Payment of judgment in installments) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 94: Entire title amended with relocations, p. 2481, � 1, effective January 1, 1995. L. 95: Entire section amended, p. 1217, � 6, effective July 1.