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2D7E9D06D1D76728872589900081D4AC Hearing Summary


Date Apr 13, 2023      
Location Old Supreme Court

HB23-1181 - Committee Discussion Only

05:38:12 PM  
The committee recessed.
05:38:23 PM  
The committee came back to order.
05:45:07 PM  
Senators Hinrichsen and Mullica introduced House Bill 23-1181, concerning guaranteed asset protection agreements. The bill establishes requirements of guaranteed asset protection agreements offered by motor vehicle lenders.
05:50:51 PM  
Martha Fulford, representing
the Colorado Department of Law, testified in opposition to the bill. She
responded to questions from the committee.
05:54:54 PM  
Mr. Tom Keepers, representing the Guaranteed Asset Protection Alliance, testified in support of the bill.
05:55:20 PM  
Ms. Katie March, representing the GoWest Credit Union Association, testified in support of the bill.
05:58:50 PM  
Mr. Gerald Abboud, representing the Powersports Dealers Association of Colorado, testified in support of the bill.
06:04:52 PM  
The panelists responded to questions from the committee.
06:05:06 PM  
The sponsors made closing comments on the bill. The chair laid the bill over for action at a later date.

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details