Colorado § 5-3.1-105 - Authorized charges.
Full text of Colorado Colorado Revised Statutes § 5-3.1-105 — Authorized charges., with citation guidance and answers to common questions.
§ 5-3.1-105. Authorized charges.
A lender may charge a finance charge for each deferred deposit loan or payday loan that must not exceed an annual percentage rate of thirty-six percent. If the loan is prepaid prior to the maturity of the loan term, the lender shall refund to the consumer a prorated portion of the finance charge based upon the ratio of time left before maturity to the loan term. A lender may charge only those charges expressly authorized in this article in connection with a deferred deposit loan or payday loan.
Source: L. 2000: Entire article added, p. 441, § 1, effective July 1. L. 2010: Entire section amended, (HB 10-1351), ch. 267, p. 1222, § 4, effective August 11. Initiated 2018: Entire section amended, Proposition 111, L. 2019, p. 4539, § 2, effective February 1, 2019, proclamation of the Governor issued December 19, 2018.
Cross references: For the legislative declaration in the 2010 act amending this section, see section 1 of chapter 267, Session Laws of Colorado 2010.
Frequently Asked Questions About Colorado § 5-3.1-105
What does Colorado Revised Statutes § 5-3.1-105 cover?
Section 5-3.1-105 ("Authorized charges.") 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 § 5-3.1-105?
A common citation format is "Colorado Revised Statutes § 5-3.1-105" (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 § 5-3.1-105 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.