A consumer may not authorize any person to confess judgment on a claim arising out of a consumer credit transaction. An authorization in violation of this section is void.
Source: L. 2000: Entire article R&RE, p. 1220, § 1, effective July 1.
Editor's note: This section is similar to former §§ 5-2-415 and 5-3-407, as they existed prior to 2000.
Structure Colorado Code
Title 5 - Consumer Credit Code
Article 3 - Regulation of Agreements and Practices
Part 2 - Limitations on Agreements and Practices
§ 5-3-201. Security in Sales or Leases
§ 5-3-203. Debt Secured by Cross-Collateral
§ 5-3-204. Restrictions on Interest in Land as Security
§ 5-3-205. Use of Multiple Agreements
§ 5-3-206. No Assignment of Earnings