A consumer shall not be subject to any criminal penalty for entering into a deferred deposit loan agreement. A consumer shall not be subject to any criminal penalty in the event the instrument is dishonored, unless the consumer's account on which the instrument was written was closed before the agreed upon date of negotiation, subject to the provisions of section 18-5-205, C.R.S.
Source: L. 2000: Entire article added, p. 443, § 1, effective July 1.
Structure Colorado Code
Title 5 - Consumer Credit Code
Article 3.1 - Deferred Deposit Loan Act
§ 5-3.1-101.5. Legislative Declaration
§ 5-3.1-103. Written Agreement Requirements
§ 5-3.1-104. Notice to Consumers
§ 5-3.1-105. Authorized Charges
§ 5-3.1-106. Maximum Loan Amount - Right to Rescind
§ 5-3.1-107. Multiple Outstanding Transactions Notice
§ 5-3.1-108. Renewal - New Loan - Consecutive Loans - Payment Plan - Definitions
§ 5-3.1-109. Form of Loan Proceeds
§ 5-3.1-110. Endorsement of Instrument
§ 5-3.1-111. Redemption of Instrument
§ 5-3.1-112. Authorized Dishonored Instrument Charge
§ 5-3.1-113. Posting of Charges
§ 5-3.1-114. Notice on Assignment or Sale of Instruments
§ 5-3.1-115. Records and Annual Reports
§ 5-3.1-116. License Requirement
§ 5-3.1-117. Examination and Investigation
§ 5-3.1-118. Denial of License - Discipline
§ 5-3.1-119. Applicability of Other Provisions of This Title
§ 5-3.1-120. Criminal Culpability
§ 5-3.1-121. Unfair or Deceptive Practices
§ 5-3.1-122. Unconscionability
§ 5-3.1-123. Use of Multiple Agreements for Deferred Deposit Loans