Colorado § 5-6-203 - Fees.
Full text of Colorado Colorado Revised Statutes § 5-6-203 — Fees., with citation guidance and answers to common questions.
§ 5-6-203. Fees.
(1) (a) A person required to file notification shall, with the first notification on or before July 1, 2024, and on or before July 1 each year thereafter, pay to the administrator a nonrefundable annual notification fee. The administrator may examine the loans, business, and records of such a person without issuance of a subpoena.
(b) Repealed.
(2) (Deleted by amendment, L. 2009, (HB 09-1141), ch. 41, p. 158, § 5, effective January 1, 2010.)
(3) (a) Persons required to file notification who are assignees of consumer credit sales or consumer leases shall pay an additional nonrefundable annual volume fee on or before July 1, 2024, and on or before July 1 each year thereafter, for one hundred thousand dollars, or part thereof, of the unpaid balances at the time of the assignment of obligations arising from consumer credit sales or consumer leases made in this state and taken by assignment during the preceding calendar year. Persons required to file notification shall report any such volume to the administrator on or before March 1 in the form and manner determined by the administrator. The administrator may charge a late fee for failure to report such a volume.
(b) Repealed.
(4) The administrator shall impose a penalty of five dollars per day on any person that fails to comply with this section. If a person required to file notification and pay a notification fee fails to do so, the consumer has no obligation to pay the finance charge due under the consumer credit transaction, and any finance charges paid shall be refunded to the consumer. In addition, if the administrator examines the loans, business, or records of such person, the person shall pay the reasonable and necessary examination expenses of the administrator.
(5) Repealed.
Source: L. 2000: Entire article R&RE, p. 1253, § 1, effective July 1. L. 2009: Entire section amended, (HB 09-1141), ch. 41, p. 158, § 5, effective January 1, 2010. L. 2010: (5) amended, (HB 10-1422), ch. 419, p. 2063, § 7, effective August 11. L. 2015: (5) amended, (HB 15-1261), ch. 322, p. 1312, § 2, effective June 5. L. 2023: (1), (3), and (4) amended and (5) repealed, (SB 23-248), ch. 360, p. 2149, § 5, effective August 7.
Editor's note: (1) This section is similar to former § 5-6-203, as it existed prior to 2000.
(2) Subsections (1)(b)(II) and (3)(b)(II) provided for the repeal of subsections (1)(b) and (3)(b), respectively, effective July 1, 2026. (See L. 2023, p. 2149.)
Frequently Asked Questions About Colorado § 5-6-203
What does Colorado Revised Statutes § 5-6-203 cover?
Section 5-6-203 ("Fees.") 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 § 5-6-203?
A common citation format is "Colorado Revised Statutes § 5-6-203" (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 § 5-6-203 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.