Authority to make supervised loans
C.R.S. § 5-2-301
in effect5-2-301. Authority to make supervised loans. (1) Unless a person is a supervised financial organization or has first obtained a license from the administrator authorizing the person to make supervised loans, the person shall not engage in the business of:
(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).
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#5-2-301Fetched: 10/6/2026