4 CCR 902-1-5 - Class of Transactions Exempt From the Balloon Payment Refinance Provision

The class of consumer credit transactions that provides for periodic payments of interest only throughout the term of the consumer credit sale or loan and that has a scheduled payment more than twice as large as the average of all other regularly scheduled payments is not subject to the disclosure and right to refinance provisions of § 5-3-208, C.R.S. However, if the transaction, as originally scheduled, does not provide for periodic payments sufficient to pay all the interest due to the date of each scheduled payment then the transaction is subject to the provisions of § 5-3-208, C.R.S.

Notes

4 CCR 902-1-5

Repealed effective November 1, 2000 Rule 10 eff. 08/01/2007. Rule 16 eff. 08/01/2007. Rule 14 eff. 01/01/2008. Rule16 eff. 01/01/2008. Rules 14 eff. 10/01/2008. Rule 13 eff. 07/30/2009. Rule 2 eff. 07/30/2009 Rule 3 eff. 07/30/2009. Rule 4 eff. 07/30/2009. Rule 6 eff. 07/30/2009. Rule 8 eff. 07/30/2009. Rule 9 eff. 07/30/2009. Rule10 eff. 07/30/2009. Rule14 repealed eff. 07/30/2009. Rule 16 (1st un - numbered paragraph); eff.11/29/2010. Rule 17 eff. 11/29/2010.