Colorado Modifies Title 12 Provisions
The state of Colorado has modified provisions under Title 12, including those relating to its Mortgage Loan Originator Licensing and Mortgage Company Registration Act. These provisions are effective as of October 1, 2019.
The modifications serve primarily to recodify and reorganize the articles within the Act, all of which are administered by the Division of Real Estate, the Divisions of Conservation, or the Division of Professions and Occupations.
The new provisions also incorporate statutes previously located in Title 24 relating to the creation, powers, and duties of the Division of Professions and Occupations in administering laws regulating professions and occupations.
A final change to the Act is the elimination of provisions that are archaic or obsolete. Other provisions of the Act have been repealed due to relocation within the Colorado Revised Statutes.
For the full text of House Bill 1172, please refer to https://leg.colorado.gov/sites/default/files/2019a_1172_signed.pdf.
Elizabeth Dailey, JD, is a Regulatory Compliance Director with CLA. She is a graduate of the University of New Hampshire and earned her juris doctor at New England Law. She is admitted to the Massachusetts Bar.
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