2022 Colorado Code
Title 5 - Consumer Credit Code
Article 2 - Finance Charges and Related Provisions
Part 3 - Supervised Loans and Supervised Lenders
§ 5-2-304. Records - Annual Reports - Proof of Financial Responsibility

Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

1. Every licensee shall maintain records in conformity with this code, rules adopted thereunder, and generally accepted accounting principles and practices in a manner that will enable the administrator to determine whether the licensee is complying with the provisions of this code. The record-keeping system of a licensee shall be sufficient if the licensee makes the required information reasonably available. The records need not be kept in the place of business where supervised loans are made if the administrator is given free access to the records wherever located. The records pertaining to any loan need not be preserved for more than four years after making the final entry relating to the loan, but, in the case of a revolving loan account, the four years is measured from the date of each entry.

Source: L. 2000: Entire article R&RE, p. 1211, § 1, effective July 1. L. 2003: (2) and (3) amended, p. 1893, § 4, effective July 1.

Editor's note: This section is similar to former § 5-3-505, as it existed prior to 2000.

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