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Colorado governor permits further extensions of money transmitter and real estate broker licenses
On July 19, the Colorado governor issued Executive Order 2020 141, which extends Executive Order D 2020 015, as amended by several earlier orders, until August 18, 2020. Executive Order D 2020 015 authorizes the Department of Regulatory Agencies to promulgate and issue emergency rules extending the expiration date of licenses issued by the Division of Banking for money transmitters and licenses issued by the Division of Real Estate for real estate brokers.
Colorado updates guidance for critical financial institutions to reflect recent executive order On July 17, Colorado updated its Safer at Home guidance for critical financial institutions during the
On July 17, Colorado updated its Safer at Home guidance for critical financial institutions during the Safer at Home for Public Health Order 20-28. The guidance encourages financial institutions to become familiar with Executive Order D 2020 138, which imposes a statewide mask wearing requirement.
Colorado amends and extends executive order relating to evictions
On July 12, the Colorado governor issued Executive Order 2020 134, which amends and extends Executive Order 2020 101, which imposed limitations on certain evictions to provide relief to tenants affected by Covid-19. Among other changes, the amendments require landlords to provide tenants with 30 days’ notice of any default for nonpayment of rent occurring on or after March 10, during which time the tenant has a one-time opportunity to cure the default. Municipalities and other local jurisdictions are encouraged to suspend limitations on, among other things, the number of unrelated persons that can live in a single household to enable homeowners to provide rooms to those in need of housing. Executive Order 2020 101 is extended until 30 days from July 12, 2020, unless otherwise extended.
Colorado amends and extends executive order relating to evictions
On July 12, the Colorado governor issued Executive Order 2020 134, which amends and extends Executive Order 2020 101, which imposed limitations on certain evictions to provide relief to tenants affected by Covid-19. Among other changes, the amendments require landlords to provide tenants with 30 days’ notice of any default for nonpayment of rent occurring on or after March 10, during which time the tenant has a one-time opportunity to cure the default. Municipalities and other local jurisdictions are encouraged to suspend limitations on, among other things, the number of unrelated persons that can live in a single household to enable homeowners to provide rooms to those in need of housing. Executive Order 2020 101 is extended until 30 days from July 12, 2020, unless otherwise extended.
Colorado enacts bill limiting certain debt collection activity
On June 29, the Colorado governor signed Bill 20-211, which places limitations on certain debt collections. Among other things, the bill prohibits a judgment creditor from initiating a new extraordinary collection action (i.e. a garnishment, attachment, levy or execution to collect or enforce a judgment on a debt) from the date of the bill through November 1, 2020, unless certain requirements set forth in the bill are met. These requirements include, but are not limited to, providing at least 10 days advance written notice to the debtor of their right to temporarily suspend the collection action if they are facing financial hardship due to the Covid-19 emergency.
Colorado issues rule concerning remote notarization
On June 26, the Colorado Department of State issued temporary amendments to the Notary Program Rules to authorize and establish minimum standards for remote notarization for individuals located within the state of Colorado. The amendments, which took immediate effect, set forth requirements for using remote notarization, including requirements surrounding the remote notarization system used to perform the notarizations and requirements for ensuring satisfactory evidence of identity.
Colorado regulator reminds real estate businesses of business restrictions
On June 11, the Colorado Department of Regulatory Agencies (DORA) issued a reminder regarding the Safer at Home guidance for real estate businesses. In light of the various sources of guidance and versions of public health orders, DORA advises that real estate businesses and professionals review the Safer at Home: Additional Guidance for Real Estate Brokers & Servicers document, which responds to frequently asked questions related to real estate services.
Colorado Banking and Financial Services commissioners provide guidance on Safer at Home orders
On May 15, the Colorado Banking and Financial Services commissioners provided additional guidance on the Safer at Home orders. The commissioners continue to encourage Colorado state-chartered financial institutions to work with affected borrowers and customers, and provide payment relief to consumers impacted by Covid-19. For example, financial institutions are encouraged to waive fees for services (e.g., overdraft fees, ATM fees) and provide accommodations such as eliminating minimum balance requirements on accounts and increasing daily withdrawal limits on ATMs.
Colorado issues guidance to critical financial institutions
On May 12, Colorado issued additional guidance to critical financial institutions during the Safer at Home for Public Health Order 20-28. The guidance clarifies that financial and professional institutions are considered “Critical Business/Critical Service” under the public health order. It also provides responses to frequently asked questions, including how to follow guidance at the city, county, and state level, whether banks and credit union branches are considered “Critical Retailers,” the requirements for monitoring employee health, and cleaning procedures at the financial institutions’ facilities.
Colorado Department of Revenue issues emergency regulations regarding motor vehicle sales
On May 1, 2020, the Colorado Department of Revenue, Motor Vehicle Dealer Board, issued emergency regulations permitting licensed motor vehicle dealers to complete sales transactions of motor vehicles during Covid-19, provided that certain conditions are met.