§ 10-23-104 — Fees

Colorado § 10-23-104

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Cash-bonding Agents

Text

(1) (a) Each professional cash-bail agent and cash-bonding
agent shall pay an application fee set by the division in an amount to offset the
direct and indirect cost of processing registration applications and issuing a
registration.

(b) Each professional cash-bail agent and cash-bonding agent shall pay a
registration renewal fee set by the division in an amount that offsets the direct and
indirect cost of implementing this article, net of the total amount of the fees paid by
that agent under paragraph (c) of this subsection (1).

(c) Each professional cash-bail agent and cash-bonding agent shall pay to
the division a fee of one percent on the gross amount of all premiums and fees
collected or contracted for the furnishing of bail, less any premium or fee refunded
after being collected. The division may lower the fee if the amount collected would
exceed the amount needed to implement this article plus a reserve of sixteen and
one-half percent.

(d) The premium fee is due and payable on the fifteenth day of January in
each year. Any professional cash-bail agent or cash-bonding agent failing or
refusing to render a statement and information, or to pay the fee under this section,
for more than thirty days after the time specified, is liable for a penalty of up to one
hundred dollars for each additional day of delinquency. The division may assess the
penalty and interest at a rate of one percent per month or fraction thereof on the
unpaid amount from the date when payment was due to the date when full payment
is made. The division may suspend the registration of a delinquent agent until any
fees, penalties, and interest are fully paid.

(2) The division shall transfer the fees imposed by this section to the
treasurer, who shall credit the fee to the division of insurance cash fund created in
section 10-1-103.

(3) For the purpose of auditing a professional cash-bail agent's or cash-bonding agent's premium fee statement, the division may examine any books,
papers, records, agreements, or memoranda bearing upon the matters required to
be included in the premium fee statement. The agent shall make the books, papers,
records, agreements, or memoranda available upon request to the division.

Legislative History

Source: L. 2012: Entire article added with relocations, (HB 12-1266), ch. 280, p. 1514, � 41, effective July 1.