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Colo. Rev. Stat. § 42-21-101 Definitions
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As used in this article 21, unless the context otherwise requires: (1) "Administrator" means the person that is responsible for the administrative or operational functions of a vehicle value protection agreement. These functions include the adjudication of benefit requests by con…
Colo. Rev. Stat. § 42-21-102 Requirements for offering vehicle value protection agreements
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(1) A provider shall not offer a vehicle value protection agreement unless the agreement meets the requirements of this article 21. A provider shall not condition the extension of credit, the terms of credit, or the terms of the related vehicle sale or lease upon the purchase of …
Colo. Rev. Stat. § 42-21-103 Requirements for a provider to cancel a vehicle value protection agreement
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(1) (a) To cancel a vehicle value protection agreement, the provider must mail a written notice to the contract holder at the last-known address of the contract holder contained in the records of the provider at least five days prior to cancellation by the provider; except that t…
Colo. Rev. Stat. § 42-21-104 Third-party administrator
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A provider may perform as an administrator or retain the services of a third-party administrator. An administrator has the same powers and duties established under this article 21 as a provider. Source: L. 2023: Entire article added, (SB 23-015), ch. 36, p. 130, § 1, effective Au…