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Colorado Revised Statutes Title 5. Consumer Credit Code § 5-16-134. Disposition of fees and fines--definition--repeal

Current as of January 01, 2025 | Updated by Findlaw Staff

(1)(a) All revenue, except fines, collected pursuant to this article 16 before July 1, 2024, shall be collected by the administrator and transmitted to the state treasurer, who shall credit the money to the collection agency cash fund, which fund is created and referred to in this section as the “fund”. The general assembly shall make annual appropriations from the fund for the uses and purposes of this article 16. All revenue credited to the fund, including earned interest, shall be used for the administration and enforcement of this article 16.

(b) On September 30, 2024, or as soon as practicable after that date, the state treasurer shall transfer the unexpended and unencumbered balance of the collection agency cash fund to the consumer credit unit cash fund created in section 5-2-302(11).

(c) This subsection (1) is repealed, effective July 1, 2026.

(1.5) On and after July 1, 2024, the state treasurer shall credit all fees collected under this article 16 to the consumer credit unit cash fund created in section 5-2-302(11).

(2) All fines collected pursuant to this article 16, including but not limited to fines collected pursuant to section 5-16-127, shall be collected by the administrator and transmitted to the state treasurer, who shall credit the same to the general fund.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 5. Consumer Credit Code § 5-16-134. Disposition of fees and fines--definition--repeal - last updated January 01, 2025 | https://codes.findlaw.com/co/title-5-consumer-credit-code/co-rev-st-sect-5-16-134/

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