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Colorado Revised Statutes Title 5. Consumer Credit Code § 5-3.1-107. Multiple outstanding transactions notice

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

A lender shall provide the following notice in a prominent place on each deferred deposit loan agreement in at least ten-point type:

STATE LAW PROHIBITS DEFERRED DEPOSIT LOANS EXCEEDING FIVE HUNDRED DOLLARS ($500) TOTAL DEBT PLUS APPLICABLE FINANCE CHARGES PERMITTED BY LAW FROM A DEFERRED DEPOSIT LENDER. EXCEEDING THIS AMOUNT MAY CREATE FINANCIAL HARDSHIPS FOR YOU AND YOUR FAMILY. YOU HAVE THE RIGHT TO RESCIND THIS TRANSACTION BY 5 P.M. THE NEXT BUSINESS DAY FOLLOWING THIS TRANSACTION.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 5. Consumer Credit Code § 5-3.1-107. Multiple outstanding transactions notice - last updated January 01, 2025 | https://codes.findlaw.com/co/title-5-consumer-credit-code/co-rev-st-sect-5-3-1-107/

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