Colorado § 5-16-118 - Collection agency license - required.
Full text of Colorado Colorado Revised Statutes § 5-16-118 — Collection agency license - required., with citation guidance and answers to common questions.
§ 5-16-118. Collection agency license - required.
Any person acting as a collection agency must possess a valid license issued by the administrator in accordance with this article 16 and any rules adopted pursuant thereto.
Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1093, § 1, effective August 9.
Editor's note: This section is similar to former § 12-14-118 as it existed prior to 2017.
ANNOTATION
Corporation that is in the business of debt collection that takes a complete assignment of a debt owed to an entity located in Colorado is subject to the licensure provisions of this section even though the corporation is located outside of Colorado and the assignor of the debt retains no further rights in such debt. Commercial Serv. v. Fitzgerald, 856 P.2d 58 (Colo. App. 1993) (decided under former law).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 5-16-118
What does Colorado Revised Statutes § 5-16-118 cover?
Section 5-16-118 ("Collection agency license - required.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 5-16-118?
A common citation format is "Colorado Revised Statutes § 5-16-118" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 5-16-118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.