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2017 Colorado Revised Statutes
Title 5 - Consumer Credit Code
Consumer Credit Code
Article 3.1 - Deferred Deposit Loan Act
§ 5-3.1-104. Notice to consumers
Universal Citation: CO Rev Stat ยง 5-3.1-104 (2017)
A lender shall provide the following notice in a prominent place on each loan agreement in at least ten-point type: A DEFERRED DEPOSIT LOAN IS NOT INTENDED TO MEET LONG-TERM FINANCIAL NEEDS.---A DEFERRED DEPOSIT LOAN SHOULD BE USED ONLY TO MEET SHORT-TERM CASH NEEDS.---RENEWING THE DEFERRED DEPOSIT LOAN RATHER THAN PAYING THE DEBT IN FULL WILL REQUIRE ADDITIONAL FINANCE CHARGES.
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