Colorado § 5-10-301 - Definitions.
Full text of Colorado Colorado Revised Statutes § 5-10-301 — Definitions., with citation guidance and answers to common questions.
§ 5-10-301. Definitions.
(1) As used in this article, unless otherwise required by the context:
(a) "Administrator" means the administrator designated in section 5-6-103.
(b) "Advertisement" means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental purchase agreement.
(c) "Cash price" means the price at which a lessor in the ordinary course of business would offer the property that is the subject of a rental purchase agreement to the lessee for cash on the date of the execution of the rental purchase agreement.
(d) "Consummate" means the act of the lessee in entering into a rental purchase agreement.
(e) "Lessee" means a natural person who rents personal property under a rental purchase agreement.
(f) "Lessor" means a person, firm, or corporation who in the ordinary course of business, regularly leases, offers to lease, or arranges for the leasing of property under a rental purchase agreement.
(g) "Liability damage waiver" means a contract or contractual provision, whether separate from or a part of a rental purchase agreement, whereby the lessor agrees, for a charge, to waive any and all claims against the lessee for any damages to, or loss of, the property which is the subject of the rental purchase agreement during the term of the rental agreement.
(h) "Period" means a day, week, month, or other subdivision of the year.
(i) "Personal property" means any property which is made available for a rental purchase agreement and which is not considered real property under the laws of this state.
(j) "Rental purchase agreement" means an agreement for the use of personal property by an individual primarily for personal, family, or household purposes, for an initial period of four months or less, whether or not there is any obligation beyond the initial period, that is automatically renewable with each payment and that permits the lessee to become the owner of the property.
Source: L. 90: Entire article added, p. 368, § 1, effective January 1, 1991.
PART 4
DISCLOSURES AND FORM OF WRITING
Frequently Asked Questions About Colorado § 5-10-301
What does Colorado Revised Statutes § 5-10-301 cover?
Section 5-10-301 ("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 § 5-10-301?
A common citation format is "Colorado Revised Statutes § 5-10-301" (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 § 5-10-301 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.