Colorado § 5-3-206 - No assignment of earnings.
Full text of Colorado Colorado Revised Statutes § 5-3-206 — No assignment of earnings., with citation guidance and answers to common questions.
§ 5-3-206. No assignment of earnings.
(1) A creditor may not take an assignment of earnings of the consumer for payment or as security for payment of a debt arising out of a consumer credit transaction. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the consumer.
(2) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him or her secured by an assignment of earnings.
Source: L. 2000: Entire article R&RE, p. 1220, § 1, effective July 1.
Editor's note: This section is similar to former §§ 5-2-410 and 5-3-403, as they existed prior to 2000.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 5-3-206
What does Colorado Revised Statutes § 5-3-206 cover?
Section 5-3-206 ("No assignment of earnings.") 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 § 5-3-206?
A common citation format is "Colorado Revised Statutes § 5-3-206" (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 § 5-3-206 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.