C.R.S. Section 5-20-206
Cosigner rights

(1)

A creditor shall provide a cosigner with access to all documents or records related to the cosigned private education credit obligation that are available to the private education credit borrower.

(2)

Intentionally left blank —Ed.

(a)

If a creditor provides electronic access to documents and records for a private education credit borrower, the creditor shall provide equivalent electronic access to the cosigner.

(b)

Upon the private education credit borrower’s request, the creditor shall redact the private education credit borrower’s contact information from documents and records provided to a cosigner.

(3)

A creditor shall not include in a private education credit obligation executed after June 29, 2021, a provision that permits the creditor to accelerate payments, in whole or in part, except upon a payment default. A creditor shall not place any credit obligation or account into default or accelerate a credit obligation for any reason other than payment default.

(4)

A private education credit obligation executed before June 29, 2021, may permit the creditor to accelerate payments only if the promissory note or credit obligation agreement explicitly authorizes an acceleration and only for the reasons stated in the note or agreement.

Source: Section 5-20-206 — Cosigner rights, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-05.­pdf (accessed Oct. 20, 2023).

5‑20‑101
Short title 5‑20‑102
Scope of article - residence of debtor 5‑20‑103
Definitions 5‑20‑104
Student loan ombudsperson - report - fund - rules 5‑20‑105
License required 5‑20‑106
Licensure of student loan servicers - definition 5‑20‑107
License and investigation fees 5‑20‑108
Affirmative acts required of student loan servicers - definitions 5‑20‑109
Prohibited acts of student loan servicers 5‑20‑110
Powers and duties of the administrator - rules 5‑20‑111
Compliance with federal law 5‑20‑112
Civil action 5‑20‑113
Application of administrative procedures - provisions 5‑20‑114
Administrative enforcement orders 5‑20‑115
Assurance of discontinuance 5‑20‑116
Injunctions 5‑20‑117
Civil actions by the administrator 5‑20‑118
Limitations 5‑20‑119
Confidential information 5‑20‑201
Scope of part - construction with other laws - legislative declaration 5‑20‑202
Definitions 5‑20‑203
Registration of private education creditors - penalties - rules 5‑20‑204
Cosigner disclosures 5‑20‑205
Cosigner release 5‑20‑206
Cosigner rights 5‑20‑207
Bankruptcy or death of cosigner 5‑20‑208
Total and permanent disability of the private education credit borrower or cosigner 5‑20‑209
Refinancing - additional disclosures - limitations on default pending approval 5‑20‑210
Prohibited conduct 5‑20‑211
Record retention - confidentiality 5‑20‑212
Collection on debt - prerequisites - documentation 5‑20‑213
Actions - counterclaims 5‑20‑214
Remedies - civil actions - limitations - deceptive trade practice
Green check means up to date. Up to date

Current through Fall 2024

§ 5-20-206’s source at colorado​.gov