5-3.1-123. Use of multiple agreements for deferred deposit loans.
Statute text
If a consumer obtains a deferred deposit loan voluntarily and separately from his or her spouse and the consumer's action is documented in writing, signed by the consumer, and retained by the lender, the transaction shall not be considered a violation of section 5-3-205.
History
Source: L. 2004: Entire section added, p. 320, 9, effective July 1.
ARTICLE 3.5
CONSUMER EQUITY PROTECTION
Annotations
Law reviews: For article, "The Colorado Equity Protection Act: A Response to Predatory Lending Practices", see 32 Colo. Law. 79 (April 2003).
Section
PART 1 OBLIGOR PROTECTION
5-3.5-101. Definitions.
5-3.5-102. Protection of obligors.
5-3.5-103. Restricted acts and practices.
5-3.5-104. Reporting to credit bureaus.
PART 2 ENFORCEMENT AND LIABILITY
5-3.5-201. Enforcement - liability.
PART 3 MISCELLANEOUS PROVISIONS
5-3.5-301. Effective date - applicability.
5-3.5-302. Severability.
5-3.5-303. Relationship to other laws.