§ 8-43-410 — Right to compensation operates as lien - interest on award

Colorado § 8-43-410

• Jurisdiction: Colorado
• Title 08: Labor and
• Art.: Procedure

Text

(1)
The right of compensation granted by articles 40 to 47 of this title and any awards
made thereunder shall have the same preference or lien without limit of amount
against the assets of the employer or the employer's insurer or both as may be
allowed by law for a claim for unpaid wages for labor.

(2) Every employer or insurance carrier of an employer shall pay interest at
the rate of eight percent per annum upon all sums not paid upon the date fixed by
the award of the director or administrative law judge for the payment thereof or the
date the employer or insurance carrier became aware of an injury, whichever date is
later. Upon application and satisfactory showing to the director or administrative
law judge of the valid reasons therefor, said director or administrative law judge,
upon such terms or conditions as the director or administrative law judge may
determine, may relieve such employer or insurer from the payment of interest after
the date of the order therefor; and proof that payment of the amount fixed has been
offered or tendered to the person designated by the award shall be such sufficient
valid reason.

Legislative History

Source: L. 90: Entire article R&RE, p. 517, � 1, effective July 1. L. 94: (2) amended, p. 1880, � 16, effective June 1.