Colorado Revised Statutes Title 5. Consumer Credit Code § 5-2-301. Authority to make supervised loans

(a) Making supervised loans or undertaking direct collection of payments from or enforcement of rights against consumers arising from supervised loans he or she has previously made; or

(b) Taking assignments of and undertaking direct collection of payments from or enforcement of rights against consumers arising from supervised loans, including servicing supervised loans; except that a person who is licensed by the administrator as a collection agency pursuant to article 16 of this title 5 or is licensed by the Colorado supreme court to practice law and who takes assignment of supervised loans only after such loans are in default is not required to obtain a supervised lender license to engage in the activities described in this subsection (1)(b).