§ 12-10-801. Hoa Information and Resource Center – Creation – Duties – Rules – Subject to Review – Repeal
There is hereby created, within the division, the HOA information and resource center, the head of which shall be the HOA information officer. The HOA information officer shall be appointed by the executive director pursuant to section 13 of article XII of the state constitution. The HOA information officer shall be familiar with the “Colorado […]
§ 12-10-901. Definitions
As used in this part 9, unless the context otherwise requires: “Home warranty service company”, referred to in this part 9 as the “company”, means any person who undertakes a contractual obligation on a new or preowned home through a home warranty service contract. “Home warranty service contract” means any contract or agreement whereby a […]
§ 12-10-902. Purchase of Service Contract Not Compulsory
A company selling, offering to sell, or effecting the issuance of a home warranty service contract under this part 9 shall not in any manner require a home buyer or seller, or prospective home buyer or seller, or person refinancing a home to purchase a home warranty service contract. Source: L. 2019: Entire title R&RE […]
§ 12-10-903. Contract Requirements
Every home warranty service contract shall contain the following information: A specific listing of all items or elements excluded from coverage; A specific listing of all other limitations in coverage, including the exclusion of preexisting conditions if applicable; The procedure that is required to be followed in order to obtain repairs or replacements; A statement […]
§ 12-10-904. Penalty for Violation
Any person who knowingly violates any provision of this part 9 commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501. Each instance of violation shall be considered a separate offense. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, § 1, effective October 1. Editor’s […]
§ 12-10-905. Prohibitions
It is unlawful for any lending institution to require the purchase of a home warranty service contract as a condition for granting financing for the purchase of the home. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, § 1, effective October 1. L. 2020: Entire section amended, (HB 20-1214), […]
§ 12-10-721. Prohibited Conduct – Influencing a Real Estate Appraisal
A mortgage loan originator shall not, directly or indirectly, compensate, coerce, or intimidate an appraiser, or attempt, directly or indirectly, to compensate, coerce, or intimidate an appraiser, for the purpose of influencing the independent judgment of the appraiser with respect to the value of a dwelling offered as security for repayment of a residential mortgage […]
§ 12-10-906. Repeal of Part – Subject to Review
This part 9 is repealed, effective September 1, 2026. Before the repeal, this part 9 is scheduled for review in accordance with section 24-34-104. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, § 1, effective October 1. L. 2020: Entire section amended, (HB 20-1214), ch. 122, p. 519, § […]
§ 12-10-722. Rule-Making Authority
The board has the authority to promulgate rules as necessary to enable the board to carry out the board’s duties under this part 7. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 710, § 1, effective October 1. Editor’s note: This section is similar to former § 12-61-910.3 as it […]
§ 12-10-723. Acts of Employee – Mortgage Loan Originator’s Liability
An unlawful act or violation of this part 7 upon the part of an agent or employee of a licensed mortgage loan originator shall not be cause for disciplinary action against a mortgage loan originator unless it appears that the mortgage loan originator knew or should have known of the unlawful act or violation or […]