Charge for insurance in connection with a deferral, refinancing, or consolidation - duplicate charges
C.R.S. § 5-4-110
in effect5-4-110. Charge for insurance in connection with a deferral, refinancing, or consolidation - duplicate charges. (1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral described in section 5-2-204, a refinancing described in section 5-2-205, or a consolidation described in section 5-2-206 unless:
(a) The consumer agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made;
(b) The consumer is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which the consumer would have been entitled had there been no deferral, refinancing, or consolidation;
(c) The consumer receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated under section 5-4-108; and
(d) The charge does not exceed the amount permitted under section 5-4-107.
(2) A creditor may not contract for or receive a separate charge for insurance that duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-05.docx#5-4-110Fetched: 10/6/2026