C.R.S. Section 5-16-120
License

  • issuance
  • grounds for denial
  • appeal
  • contents

(1)

Upon the approval of the license application by the administrator and the satisfaction of all application requirements, the administrator shall issue the applicant a license to operate as a collection agency.

(2)

The administrator may deny any application for a license or its renewal if any grounds exist that would justify disciplinary action under section 5-16-127, for failure to meet the requirements of section 5-16-119, or if the applicant, the applicant’s principals, or the applicant’s collections manager have fraudulently obtained or attempted to obtain a license.

(3)

If any application for a license or its renewal is denied, the applicant may appeal the decision pursuant to section 24-4-104.

(4)

The license shall state the name of the licensee, location by street and number or office building and room number, city, county, and state where the licensee has his or her principal place of business, together with the number and date of the license and the date of expiration of the license, and shall further state that it is issued pursuant to this article 16 and that the licensee is duly authorized under this article 16.

(5)

The administrator may deny any application for a license or its renewal if the collection agency has failed to perform the duties enumerated in section 5-16-123.

(6)

The administrator may deny any application for a license or its renewal if the collection agency does not have a positive net worth.

Source: Section 5-16-120 — License - issuance - grounds for denial - appeal - contents, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-05.­pdf (accessed Oct. 20, 2023).

5‑16‑101
Short title 5‑16‑102
Scope of article 5‑16‑103
Definitions 5‑16‑104
Location information - acquisition 5‑16‑105
Communication in connection with debt collection - definition - repeal 5‑16‑106
Harassment or abuse 5‑16‑107
False or misleading representations - repeal 5‑16‑108
Unfair practices 5‑16‑109
Validation of debts 5‑16‑109.5
Medical debt - requirements related to payment plans - collection prohibited during health insurance appeals - definition 5‑16‑110
Multiple debts 5‑16‑111
Legal actions by collection agencies 5‑16‑111.5
Fees, costs, and costs of collection - limitation 5‑16‑112
Deceptive forms 5‑16‑113
Civil liability 5‑16‑114
Administrative enforcement - rules 5‑16‑115
License - registration - unlawful acts 5‑16‑117
Powers and duties of the administrator 5‑16‑118
Collection agency license - required 5‑16‑119
Collection agency license - requirements - application - fee - expiration - definition 5‑16‑120
License - issuance - grounds for denial - appeal - contents 5‑16‑121
Collection agency license - renewals 5‑16‑122
Collection agency license - notification of change and reapplication requirements 5‑16‑123
Duties of collection agencies 5‑16‑124
Bond - definition 5‑16‑125
Unlawful acts 5‑16‑125.5
Statute of limitations - actions by administrator 5‑16‑126
Criminal penalties 5‑16‑127
Complaint - investigations - powers of administrator - sanctions 5‑16‑128
Debt collectors for the department of personnel - complaint - disciplinary procedures 5‑16‑129
Records 5‑16‑130
Jurisdiction of courts 5‑16‑131
Duty of district attorney 5‑16‑132
Remedies 5‑16‑133
Injunction - receiver 5‑16‑134
Disposition of fees and fines - repeal 5‑16‑134.5
Debts sold or resold after January 1, 2018 5‑16‑135
Repeal of article
Green check means up to date. Up to date

Current through Fall 2024

§ 5-16-120’s source at colorado​.gov