Colorado § 10-10-103 - Definitions.
Full text of Colorado Colorado Revised Statutes § 10-10-103 — Definitions., with citation guidance and answers to common questions.
§ 10-10-103. Definitions.
As used in this article, unless the context otherwise requires:
(1) "Commissioner" means the commissioner of insurance of Colorado.
(2) "Credit insurance" means insurance on a debtor to provide indemnity for payments or loan balance, or any combination thereof, becoming due on a specific loan or other credit transaction upon the occurrence of a contingency for which insurance is obtained.
(3) (Deleted by amendment, L. 92, p. 1569, § 83, effective May 20, 1992.)
(4) "Creditor" means the lender of money or vendor or lessor of goods, services, property, rights, or privileges for which payment is arranged through a credit transaction, or any successor to the right, title, or interest of any such lender, vendor, or lessor, and an affiliate, associate, or subsidiary of any of them, or any director, officer, or employee of any of them, or any other person in any way associated with any of them.
(5) "Debtor" means a borrower of money or a purchaser or lessee of goods, services, property, rights, or privileges for which payment is arranged through a credit transaction.
(6) "Indebtedness" means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction.
(7) "Truncated coverage" means credit insurance that provides a term of insurance coverage for a period that is shorter than the full term of the indebtedness remaining at the time the insurance coverage is elected. The term does not include credit insurance coverage that terminates on attainment of a specific age.
Source: L. 69: p. 536, § 4. C.R.S. 1963: § 72-28-4. L. 92: (2) and (3) amended, p. 1569, § 83, effective May 20. L. 2000: (7) added, p. 151, § 1, effective August 2.
Frequently Asked Questions About Colorado § 10-10-103
What does Colorado Revised Statutes § 10-10-103 cover?
Section 10-10-103 ("Definitions.") 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 § 10-10-103?
A common citation format is "Colorado Revised Statutes § 10-10-103" (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 § 10-10-103 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.