§ 5-5-301. Willful Violations

1. [ Editor’s note: This version of subsection (1) is effective until March 1, 2022.] A supervised lender who willfully makes charges in excess of those permitted by the provisions of this code is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than five thousand dollars, or by imprisonment in the county jail for not more than one year, or by both such fine and imprisonment.

   (1) [ Editor’s note: This version of subsection (1) is effective March 1, 2022. ] A supervised lender who willfully makes charges in excess of those permitted by the provisions of this code commits a class 2 misdemeanor.

2. [ Editor’s note: This version of subsection (2) is effective until March 1, 2022.] A person, other than a supervised financial organization, who willfully engages in the business of making supervised loans without a license in violation of the provisions of this code applying to the authority to make supervised loans described in section 5-2-301 is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than five thousand dollars, or by imprisonment in the county jail for not more than one year, or by both such fine and imprisonment.

   (2) [ Editor’s note: This version of subsection (2) is effective March 1, 2022. ] A person, other than a supervised financial organization, who willfully engages in the business of making supervised loans without a license in violation of the provisions of this code applying to the authority to make supervised loans described in section 5-2-301 commits a class 2 misdemeanor.

3. [ Editor’s note: This version of subsection (3) is effective until March 1, 2022.] A person who willfully engages in the business of making consumer credit transactions or of taking assignments of rights against consumers arising therefrom and undertakes direct collection of payments or enforcement of these rights without complying with the provisions of this code concerning notification contained in section 5-6-202 or payment of fees contained in section 5-6-203 is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than one thousand dollars.

   (3) [ Editor’s note: This version of subsection (3) is effective March 1, 2022. ] A person who willfully engages in the business of making consumer credit transactions or of taking assignments of rights against consumers arising therefrom and undertakes direct collection of payments or enforcement of these rights without complying with the provisions of this code concerning notification contained in section 5-6-202 or payment of fees contained in section 5-6-203 commits a class 2 misdemeanor.

4. Any person who violates the provisions of this section and by the same act or acts violates the provisions of section 18-15-104 or 18-15-107, C.R.S., or both, shall be prosecuted for the violation of either or both of said sections and not for a violation of this section.

Source: L. 2000: Entire article R&RE, p. 1243, § 1, effective July 1. L. 2021: (1), (2), and (3) amended, (SB 21-271), ch. 462, p. 3133, § 54, effective March 1, 2022.

Editor’s note:

1. This section is similar to former § 5-5-301, as it existed prior to 2000.
2. Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.