C.R.S. § 5-9.3-108

[Editor’s note: This section is effective January 1, 2024.] (1) A GAP agreement shall not be sold to a consumer if: (a) The consumer is ineligible for a GAP agreement; (b) The finance agreement terms preclude coverage under a GAP agreement; (c) The motor vehicle used as collateral for the finance agreement is ineligible for coverage under a GAP agreement; (d) The GAP agreement limits coverage to a maximum loan-to-value ratio and the terms of the finance agreement exceed the maximum loan-to-value ratio stated in the GAP agreement; (e) The maximum loan to value ratio in the GAP agreement exceeds one hundred fifty percent; or (f) The transaction would be unconscionable as described in section 5-4-106 , 5-5-109 , or 5-6-112 .