Colorado § 26-2-1003 - Definitions.
Full text of Colorado Colorado Revised Statutes § 26-2-1003 — Definitions., with citation guidance and answers to common questions.
§ 26-2-1003. Definitions.
As used in this part 10, unless the context otherwise requires:
(1) "Charitable donor" means a person who contributes to a sponsoring organization for the purposes of the IDA program.
(2) "Financial institution" means an organization that is federally insured and is authorized to do business under state or federal laws relating to financial institutions and includes a bank, trust company, savings bank, building and loan association, savings and loan company or association, and credit union.
(3) "Individual development account" means a contract of deposit between a depositor and a financial institution selected by a sponsoring organization.
(4) "Program" or "IDA program" means the individual development account program established pursuant to this part 10.
(5) "Service provider" means an institution of higher education; a provider of occupational or career and technical education; a trade school; a bank, savings and loan, or other mortgage lender; a title company; or the lessor or vendor of any office supplies, office equipment, retail space or office space or other business space, or such other provider of goods or services to be used for the commencement of a business.
(6) "Sponsoring organization" means a nonprofit organization that is exempt from taxation under section 501 (c)(3) of the federal "Internal Revenue Code of 1986", as amended, that participates in IDA programs, and that verifies authorized use of individual development accounts.
Source: L. 2000: Entire part added, p. 1470, § 1, effective May 31. L. 2017: (5) amended, (SB 17-294), ch. 264, p. 1410, § 97, effective May 25.
Frequently Asked Questions About Colorado § 26-2-1003
What does Colorado Revised Statutes § 26-2-1003 cover?
Section 26-2-1003 ("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 § 26-2-1003?
A common citation format is "Colorado Revised Statutes § 26-2-1003" (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 § 26-2-1003 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.