2020 Colorado Revised Statutes
Title 5 - Consumer Credit Code
Article 10. Rental Purchase Agreements
Section 5-10-402. Form requirements.
(1) The information required by this part 4:
Shall be disclosed in writing in a rental purchase agreement;
Shall be set forth clearly and conspicuously, in not less than eight point standardtype;
Shall be set apart and not contain any information not directly related to the disclosures;
Shall be stated using words and phrases of common meaning;
Need not be contained in a single writing or made in the order set forth in this part 4;and
May be supplemented by additional information or explanations supplied by the lessor, so long as the additional information is not stated, utilized, or placed in a manner which will confuse the lessee or contradict, obscure, or distract attention from the required information. The additional information or explanations shall not have the effect of circumventing, evading, or unduly complicating the information required to be disclosed.
The lessor shall disclose all information required by this part 4 before the rentalpurchase agreement is consummated.
Before any payment is due, the lessor shall furnish the lessee with an exact copy ofthe rental purchase agreement, which shall be signed by the lessee and which shall evidence the lessee's agreement. If there is more than one lessee in a rental purchase agreement, delivery of a copy of the rental purchase agreement to one of the lessees constitutes compliance with this subsection (3).
Source: L. 90: Entire article added, p. 370, § 1, effective January 1, 1991.
