C1A182FFC933F9C487258BC60068D867 Hearing Summary

Makyla Moody, representing Colorado Creditors Bar Association, expressed concerns regarding the uniform act's combatibility with Colorado law and asked the commission to delay its introduction to allow additional stakeholder meetings to address the issues.

Scott Allely, representing Associated Collection Agencies of Colorado, Wyoming, and New Mexico, testified that legislation in this area was enacted last year and requested the uniform act not be introduced this year to give the new laws a chance to work.

Andy Toft, representing Colorado Bar Association Business Law Section, reported that there were substantive issues between the act and current Colorado law and that some language is inconsistent with the Uniform Commercial Code. He added that the act would need additional stakeholder input before proceeding forward and that the fiscal note could continue to be a problem this year.

Commissioner Snyder concurred that the points presented were valid, but added that it is a good and balanced bill and would be willing to work on it again this year if asked, but thought that introduction should be delayed a year.

Commissioner Levy acknowledged the act's complexities, but the commission should look at it again and consider enacting it.

Commissioner Gardner asked about the act's movement through the process last session and Commissioner Snyder responded that there was good support in the House but while working with stakeholders on amendments similar bills were passed.

Commissioner Gardner reiterated that the fiscal note may be an issue again this year and suggested the commission keep working on the act but not introduce it this session.

When asked about other state interest in the act, Libby Snyder, Uniform Law Commission staff, responded that several states were considering it and holding stakeholder meetings.