2016 Colorado Revised Statutes
Title 5 - Consumer Credit Code
Consumer Credit Code
Article 3.1 - Deferred Deposit Loan Act
§ 5-3.1-107. Multiple outstanding transactions notice
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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