Source: L. 91: Entire article added, p. 277, § 1, effective July 1, 1992. L. 2011: (1)(a) amended, (SB 11-031), ch. 86, p. 242, § 2, effective August 10.
Uniform Statutory Source: Sections 9-203(4) and 9-302(3)(b) and (c).
Changes: Substantially revised.
Purposes:
An illustration of a statute of the United States that governs consumer leases is the Consumer Leasing Act, 15 U.S.C. §§ 1667-1667(e) (1982) and its implementing regulation, Regulation M, 12 C.F.R. § 213 (1986); the statute mandates disclosures of certain lease terms, delimits the liability of a lessee in leasing personal property, and regulates the advertising of lease terms. An illustration of a state statute that governs consumer leases and which if adopted in the enacting state prevails over this Article is the Unif. Consumer Credit Code, which includes many provisions similar to those of the Consumer Leasing Act, e.g. Unif. Consumer Credit Code §§ 3.202, 3.209, 3.401, 7A U.L.A. 108-09, 115, 125 (1974), as well as provisions in addition to those of the Consumer Leasing Act, e.g., Unif. Consumer Credit Code §§ 5.109-.111, 7A U.L.A. 171-76 (1974) (the right to cure a default). Such statutes may define consumer lease so as to govern transactions within and without the definition of consumer lease under this Article.
Cross References:
Sections 2A-103(1)(e), 2A-106, 2A-108, 2A-109(2) and 2A-525(3).
Definitional Cross Reference:
"Lease". Section 2A-103(1)(j).
Structure Colorado Code
Title 4 - Uniform Commercial Code
§ 4-2.5-103. Definitions and Index of Definitions
§ 4-2.5-104. Leases Subject to Other Law
§ 4-2.5-105. Territorial Application of Article to Goods Covered by Certificate of Title
§ 4-2.5-107. Waiver or Renunciation of Claim or Right After Default