Colorado § 23-5-113 - Collection of loans and outstanding obligations - state educational institutions.
Full text of Colorado Colorado Revised Statutes § 23-5-113 — Collection of loans and outstanding obligations - state educational institutions., with citation guidance and answers to common questions.
§ 23-5-113. Collection of loans and outstanding obligations - state educational institutions.
(1) Notwithstanding the provisions of section 24-30-202.4, C.R.S., the governing board of any state educational institution may promulgate rules and regulations relating to procedures for collecting any loans or other outstanding obligations owed to such institution. The institution may employ private counsel or a collection agency to handle the collection of any such loan or obligation. Employment of private counsel or a collection agency shall be in accordance with the rules and regulations, but in no event shall the fees paid to the private counsel or collection agency exceed forty percent of the amount recovered.
(2) The institution is authorized to write off, release, or compromise any debt or obligation due the institution, but only in accordance with the rules and regulations applicable thereto.
Source: L. 83: Entire section added, p. 792, § 2, effective June 3. L. 2010: Entire section amended, (SB 10-003), ch. 391, p. 1850, § 27, effective June 9.
Cross references: For the legislative declaration in the 2010 act amending this section, see section 1 of chapter 391, Session Laws of Colorado 2010.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 23-5-113
What does Colorado Revised Statutes § 23-5-113 cover?
Section 23-5-113 ("Collection of loans and outstanding obligations - state educational institutions.") 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 § 23-5-113?
A common citation format is "Colorado Revised Statutes § 23-5-113" (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 § 23-5-113 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.