Colorado § 5-2-502 - Finance charge for other transactions.

§ 5-2-502. Finance charge for other transactions.

With respect to a transaction that is specifically exempt from the rate ceilings of this code by the provisions of section 5-1-301 (15)(c), the parties may contract for the payment by the consumer of any finance charge up to a rate not to exceed an annual percentage rate of forty-five percent pursuant to section 18-15-104, C.R.S. The rate of the finance charge shall be calculated on the unpaid balances of the debt on the assumption that the debt will be paid according to its terms and will not be paid before the end of the agreed term.

Source: L. 2000: Entire article R&RE, p. 1214, § 1, effective July 1.

Editor's note: This section is similar to former § 5-3-605, as it existed prior to 2000.

ANNOTATION

Law reviews. For article, "The Colorado Equity Protection Act: A Response to Predatory Lending Practices", see 32 Colo. Law. 79 (Apr. 2003).

ARTICLE 3

Regulation of Agreements and Practices

PART 1

DISCLOSURES, NOTICES, RECORDS, AND ADVERTISING

5-3-101. Applicability - information required.

5-3-102. Notice of assignment.

5-3-103. Change in terms of revolving credit accounts.

5-3-104. Receipts - statements of account - evidence of payment.

5-3-105. Notice to cosigners and similar parties.

5-3-106. Disclosures for real estate secured consumer credit transactions.

5-3-107. Disclosures for consumer credit sale secured by a motor vehicle.

5-3-108. Written agreement required.

5-3-109. Records.

5-3-110. Advertising.

5-3-111. Use of credit scores.

PART 2

LIMITATIONS ON AGREEMENTS AND PRACTICES

5-3-201. Security in sales or leases.

5-3-202. Cross-collateral.

5-3-203. Debt secured by cross-collateral.

5-3-204. Restrictions on interest in land as security.

5-3-205. Use of multiple agreements.

5-3-206. No assignment of earnings.

5-3-207. Authorization to confess judgment prohibited.

5-3-208. Balloon payments.

5-3-209. Referral sales.

5-3-210. Discrimination prohibited - exemption.

PART 3

LIMITATIONS ON CONSUMERS' LIABILITIES

5-3-301. Restriction on liability in consumer lease.

5-3-302. Limitation on default charges.

5-3-303. Assignee subject to claims and defenses.

5-3-304. Use of account - constructive assent to terms.

5-3-305. Advance payment to reserve lodging and motor vehicle rental services - notice to consumer required.

PART 4

HOME SOLICITATION SALES

5-3-401. Definitions - "home solicitation sale".

5-3-402. Buyer's right to cancel.

5-3-403. Form of agreement or offer - statement of buyer's rights.

5-3-404. Restoration of down payment.

5-3-405. Duty of buyer - no compensation for services prior to cancellation.

PART 5

CONSUMER INSURANCE PREMIUM FINANCING

5-3-501. Scope.

5-3-502. Form of insurance premium loan agreement.

5-3-503. Notice of cancellation.

PART 1

DISCLOSURES, NOTICES, RECORDS, AND ADVERTISING