If the property that secures a consumer credit sale includes a motor vehicle and the written agreement does not provide for automobile liability insurance, the following clause shall be in the written agreement in capital letters and bold-face type: "THIS CONTRACT DOES NOT PROVIDE FOR AUTOMOBILE LIABILITY INSURANCE, AND SAID BUYER ALSO STATES THAT HE OR SHE HAS/DOES NOT HAVE (strike words not applicable) IN EFFECT AN AUTOMOBILE LIABILITY POLICY AS DEFINED IN SECTION 42-7-103 (2), COLORADO REVISED STATUTES, ON THE MOTOR VEHICLE SOLD BY THIS CONTRACT."
Source: L. 2000: Entire article R&RE, p. 1217, § 1, effective July 1. L. 2009: Entire section amended, (SB 09-292), ch. 369, p. 1939, § 4, effective August 5.
Structure Colorado Code
Title 5 - Consumer Credit Code
Article 3 - Regulation of Agreements and Practices
Part 1 - Disclosures, Notices, Records, and Advertising
§ 5-3-101. Applicability - Information Required
§ 5-3-102. Notice of Assignment
§ 5-3-103. Change in Terms of Revolving Credit Accounts
§ 5-3-104. Receipts - Statements of Account - Evidence of Payment
§ 5-3-105. Notice to Cosigners and Similar Parties
§ 5-3-106. Disclosures for Real Estate Secured Consumer Credit Transactions
§ 5-3-107. Disclosures for Consumer Credit Sale Secured by a Motor Vehicle