C.R.S. Section 5-10-502
Prohibited provisions

(1)

A rental purchase agreement shall not contain a provision requiring any of the following:

(a)

Assignment of earnings.
No lessor shall accept an assignment of earnings from the lessee for payment or as security for payment of a charge arising out of a rental purchase agreement. An assignment of earnings in violation of this paragraph (a) is unenforceable by the assignee of the earnings and revocable by the lessee. This paragraph (a) shall not prohibit a lessee from voluntarily authorizing deductions from his earnings if the authorization is revocable and otherwise permitted by law.

(b)

Authorization to confess judgment.
No lessor shall take or accept a power of attorney or other authorization from the lessee, or other person acting on his behalf, to confess judgment.

(c)

Waivers.
No lessor may require a lessee to waive service of process or to waive any defense, counterclaim, or right of action against the lessor, or a person acting on the lessor’s behalf as the lessor’s agent in collection of payments under the lease or in the repossession of the lease property.

(d)

Breach of the peace.
No lessor may require a lessee to authorize the lessor or a person acting on the lessor’s behalf to enter unlawfully upon the lessee’s premises or to commit any breach of the peace in the repossession of the lease property.

(e)

Garnishment of wages.
No lessor may require a lessee to authorize a prejudgment garnishment of the lessee’s wages.

Source: Section 5-10-502 — Prohibited provisions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-05.­pdf (accessed Oct. 20, 2023).

Green check means up to date. Up to date

Current through Fall 2024

§ 5-10-502’s source at colorado​.gov