(1) No lender shall require a borrower under a loan secured by real property to provide hazard insurance coverage on that property in an amount exceeding the replacement value of the improvements on the property.(2) Any person harmed by a violation of this section shall be entitled to obtain injunctive relief and may recover damages and reasonable attorney fees and costs.(3) A violation of this section does not affect the validity of the loan or the mortgage or deed of trust.L. 88: Entire section added, p. 403, § 2, effective April 29.
Colorado Legal Code