We are a KS bank and have a customer who is requesting a construction loan for a property located in CO. It is a commercial loan, construction of spec home (construction company).

If the borrower is the construction company do we have to have the Disburser's Notice? Is this something we as a lender should require or is this something the subcontractors ususally request and then we have to comply with?
Sorry if this is silly but I am not familiar with CO state law or with a disburers' notice in general.

Many thanks in advance

For the purposes of this section, the word "disburser" means any lender who has agreed to make any loan to the owner or contractor

https://law.justia.com/codes/colorado/2018/title-38/liens/article-22/section-38-22-126/