2021 Colorado Code
Title 5 - Consumer Credit Code
Article 16 - Colorado Fair Debt Collection Practices Act
§ 5-16-118. Collection Agency License - Required
Any person acting as a collection agency must possess a valid license issued by the administrator in accordance with this article 16 and any rules adopted pursuant thereto.
History. Source: L. 2017: Entire article added with relocations,(HB 17-1238), ch. 260, p. 1093, § 1, effective August 9.
Editor's note:
This section is similar to former § 12-14-118 as it existed prior to 2017.
ANNOTATIONCorporation that is in the business of debt collection that takes a complete assignment of a debt owed to an entity located in Colorado is subject to the licensure provisions of this section even though the corporation is located outside of Colorado and the assignor of the debt retains no further rights in such debt. Commercial Serv. v. Fitzgerald, 856 P.2d 58 (Colo. App. 1993) (decided under former law).
