HB 12-1328 Summary

• Excludes pawnbrokers from the Uniform Consumer Credit Code if their rates and charges do not exceed amounts permitted by law under Section 12-56-101(2), C.R.S.

• Applies the exclusion to pawnbrokers licensed by a local licensing authority or regulated by a local governing authority pursuant to Section 12-56-102, C.R.S.

• Extends the exclusion to pawnbrokers authorized to make supervised loans under Section 5-2-301 with respect to purchase contracts, except disclosure of rates and charges must still comply with the code.

• Takes effect at 12:01 a.m. on the day following the expiration of the ninety-day period after final adjournment of the general assembly (August 8, 2012, if adjournment is May 9, 2012), unless subject to a referendum petition.