Exempt agreements and persons

(a) This part 2 does not apply to an agreement with an individual who the provider has no reason to know resides in this state at the time of the agreement. (b) This part 2 does not apply to a provider to the extent that the provider: (1) Provides or agrees to provide debt-management, educational, or counseling services to an individual who the provider has no reason to know resides in this state at the time the provider agrees to provide the services; (2) Receives no compensation for debt-management services from or on behalf of the individuals to whom it provides the services or from their creditors; (3) Provides debt-management services only to persons that have incurred debt in the conduct of business; or (4) Is subject to the "Colorado Foreclosure Protection Act", part 11 of article 1 of title 6. (c) This part 2 does not apply to the following persons or their employees when the person or the employee is engaged in the regular course of the person's business or profession: (1) A judicial officer, a person acting under an order of a court or an administrative agency, or an assignee for the benefit of creditors; (2) A bank; (3) An affiliate, as defined in section 5-19-202 (2)(B)(i), of a bank if the affiliate is regulated by a federal or state banking regulatory authority; or (4) A title insurer, escrow company, or other person that provides bill-paying services if the provision of debt-management services is incidental to the bill-paying services.