2018 Colorado Revised Statutes
Title 5 - Consumer Credit Code
Refund Anticipation Loans
Article 9.5 - Refund Anticipation Loans
§ 5-9.5-103. Definitions
- As used in this article 9.5, unless the context otherwise requires:
(1) "Administrator" means the administrator designated in section 5-6-103.
(2) "Consumer" means a natural person who is solicited for, applies for, or receives the proceeds of a refund anticipation loan.
(3) "Electronic return originator" means a person authorized by the internal revenue service to originate the electronic submission of income tax returns to the internal revenue service.
(4) "Person" has the meaning set forth in section 2-4-401, C.R.S.
(5) "Refund anticipation loan" means a loan made to a Colorado consumer based on the Colorado consumer's anticipated income tax refund.
(6) (a) "Refund anticipation loan facilitator" or "facilitator" means a person who, individually or in conjunction or cooperation with another person, solicits the execution of, processes, arranges for, receives, or accepts an application or agreement for a refund anticipation loan or in any other manner facilitates the making of a refund anticipation loan and includes an electronic return facilitator.
(b) "Refund anticipation loan facilitator" does not include a person validly:
(I) Doing business as a bank, thrift, savings association, or credit union under the laws of the United States or of this state or is an affiliate of such an entity that is acting as a servicer for that entity;
(II) Practicing as a certified public accountant licensed under article 2 of title 12, C.R.S.; or
(III) Licensed as an attorney by the Colorado supreme court in accordance with section 13-93-101.
