Colorado § 5-2-210 - Right to prepay.
Full text of Colorado Colorado Revised Statutes § 5-2-210 — Right to prepay., with citation guidance and answers to common questions.
§ 5-2-210. Right to prepay.
Subject to the provisions on rebate upon prepayment contained in section 5-2-211, the consumer may prepay in full, or in part if payment is no less than five dollars, the unpaid balance of a consumer credit transaction at any time without penalty. A payment in the amount of a scheduled installment, other than the last scheduled installment, not identified by the consumer as a partial prepayment shall not be deemed to be a partial prepayment regardless of when the payment is made if the amount equals the next scheduled installment. If such a payment is applied by the creditor to the scheduled installment, the payment shall be deemed to have been made on the due date for the scheduled installment to which it was applied.
Source: L. 2000: Entire article R&RE, p. 1202, § 1, effective July 1.
Editor's note: This section is similar to former § 5-2-209, as it existed prior to 2000.
ANNOTATION
Applied in Empire Sav., Bldg. & Loan Ass'n v. Otero Sav. & Loan Ass'n, 640 P.2d 1151 (Colo. 1982) (decided prior to 2000 repeal and reenactment).
Frequently Asked Questions About Colorado § 5-2-210
What does Colorado Revised Statutes § 5-2-210 cover?
Section 5-2-210 ("Right to prepay.") 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 § 5-2-210?
A common citation format is "Colorado Revised Statutes § 5-2-210" (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 § 5-2-210 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.