5-6-201. Applicability.
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/co/title-5-consumer-credit-code/article-6-administration/5-6-201·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Except as provided in subsections
(2)and
(3)of this section, this part 2 applies if a person:
(a)Makes consumer credit sales and charges or collects a finance charge, or makes consumer leases; or
(b)Takes assignments of and undertakes direct collection of payments from, or enforcement of rights against, consumers arising from consumer credit sales or consumer leases.
(2)This part 2 does not apply to supervised lenders described in section 5-1-301 (46), persons making consumer loans described in section 5-1-301 (15), or to persons licensed as collection agencies pursuant to article 16 of this title 5.
(3)Section 5-6-204 applies to all fees collected under this code.