CO HB1261

Extends the pre-repossession notice period from 20 days to 60 days for a debtor's only motor vehicle, allowing the borrower to cure the default by paying overdue amounts plus delinquency or deferral charges

Prohibits creditors from remotely disabling a vehicle to facilitate repossession for payment defaults

Creates a 48-day right to cure after repossession occurs, requiring the secured party to notify the owner within 48 hours and return the vehicle if the default is cured by paying overdue amounts plus reasonable repossession costs

Establishes a 3-business-day right to return a newly purchased vehicle to the dealer, with the dealer required to refund payments (minus a restocking fee of $200-$600 or 1.5% of sale price) and unwind financing arrangements

Violations constitute unfair or deceptive trade practices under the Colorado Consumer Protection Act, with consumers able to recover actual damages, attorney fees, and treble damages for willful violations