NOTE: The governor signed this measure on 5/24/2012.
      
      
      HOUSE BILL 12-1328
      
      
      BY REPRESENTATIVE(S) Priola, Ferrandino, DelGrosso, Murray,
      Sonnenberg, Brown, Labuda;
      also SENATOR(S) Giron.
      
      
      Concerning exclusion from the "Uniform Consumer Credit Code"
           of certain charges by persons regularly engaged in making
           contracts for purchase of tangible personal property in the
           course of business if those charges do not exceed amounts
           permitted by law.
       
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 5-1-202, amend (1)
      introductory portion and (1) (d) as follows:
      
           5-1-202.  Exclusions. (1)  This The code does not apply to:
      
           (d) (I)  With respect to contracts for purchase entered into
      by a pawnbroker, as the terms are defined in section 12-56-101,
      C.R.S., the rates and charges, and the disclosure of rates and charges, of a
      licensed pawnbroker established in accordance with a statute or ordinance
      concerning these matters if the rates and charges do not exceed the
      fixed price permitted by section 12-56-101 (2), C.R.S. The exclusion
      in this subparagraph (I) applies to pawnbrokers who are:
      
           (A)  Licensed by a local licensing authority pursuant to
      section 12-56-102, C.R.S.; or
      
           (B)  Regulated, with respect to rates and charges, by a
      local governing authority pursuant to section 12-56-102, C.R.S.
      
           (II)  The exclusion in subparagraph (I) of this paragraph (d)
      also applies to pawnbrokers authorized to make supervised loans
      under section 5-2-301 with respect to contracts for purchase;
      except that the exclusion does not apply to the disclosure of
      rates and charges of pawnbrokers authorized to make supervised
      loans.
      
           SECTION 2.  Act subject to petition - effective date. This act
      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 sine die is on May 9, 2012); except that, if a
      referendum petition is filed pursuant to section 1 (3) of article V of the state
      constitution against this act or an item, section, or part of this act within
      such period, then the act, item, section, or part will not take effect unless
      approved by the people at the general election to be held in November 2012
      and, in such case, will take effect on the date of the official declaration of
      the vote thereon by the governor.
      
      
      
      
      ________________________________________________________
      Frank McNulty                      Brandon C. Shaffer
      SPEAKER OF THE HOUSE                     PRESIDENT OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
      
      
      ____________________________  ____________________________
      Marilyn Eddins                      Cindi L. Markwell
      CHIEF CLERK OF THE HOUSE                 SECRETARY OF
      OF REPRESENTATIVES                         THE SENATE
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO