| Notice Filed with SOS |
11/15/2021 |
| Rule |
ProposedRuleAttach2021-00741.doc
|
| Additional Information |
AddInfoAttach2021-00741.docx
|
| Statutory Authority |
The statutory authority for this rule includes, but is not limited to, sections 5-20-203 and 24-4-103, C.R.S. |
| Description of Subjects/Issues |
In the 2021 legislative session, the Colorado General Assembly passed the Colorado Student Loan Equity Act, sections 5-20-201, et seq., C.R.S. (“CSLEA”). The CSLEA requires private education lenders to register with the Administrator of the Uniform Consumer Credit Code in the Department of Law. Section 5-20-203, C.R.S. The Administrator issued emergency rules to implement the registration requirements. The Administrator held a stakeholder meeting on permanent rules on October 11, 2021. She is now proposing to issue permanent rules. |
| Purpose/Objective of Rule |
Sets an initial registration fee for private education lenders, establishes application requirements for private education lenders, and provides alternative registration process for public and private nonprofit postsecondary educational institutions. |
| Basis And Purpose |
BasisAndPurposeAttachment2021-00741.docx
|
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
Yes
|
| Recent legislation bill number |
SB 21-057
|
| Hearing Date |
12/20/2021 |
| Hearing Time |
10:00 AM |
| Hearing Location |
Webinar only: https://us02web.zoom.us/j/84497015236?pwd=cUdsSnRvbDk0dGY2N0NPSjVSNlhMZz09 |
| Contact Name |
Martha Fulford |
| Contact Title |
Administrator of the Uniform Consumer Credit Code |
| Contact Telephone |
720-508-6109 |
| Contact email |
CSLSA@coag.gov |