Colorado § 10-23-109 Business practices - price limits - collateral

Colorado Statutes

§ 10-23-109 — Business practices - price limits - collateral

Colorado·Title 10 Insurance·Art. Cash-bonding Agents

(1)A professional cash-bail agent or cash-bonding agent shall not charge a premium or commission of more than the greater of fifty dollars or fifteen percent of the amount of bail furnished. A professional cash-bail agent or cash-bonding agent shall not assess fees for any bail bond posted by the agent with the court unless the fee is for payment of a bail bond filing charged by a court or law enforcement agency, the fee is for the actual cost of storing collateral in a secure, self-service public storage facility, or the fee is for premium financing.

(2)If a professional cash-bail agent or cash-bonding agent has issued a disclosure statement in accordance with section 10-23-108 (2)(b), the agent may use collateral received from the defendant or indemnitor to secure the followi

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(1) A professional
cash-bail agent or cash-bonding agent shall not charge a premium or commission
of more than the greater of fifty dollars or fifteen percent of the amount of bail
furnished. A professional cash-bail agent or cash-bonding agent shall not assess
fees for any bail bond posted by the agent with the court unless the fee is for
payment of a bail bond filing charged by a court or law enforcement agency, the fee
is for the actual cost of storing collateral in a secure, self-service public storage
facility, or the fee is for premium financing.

(2) If a professional cash-bail agent or cash-bonding agent has issued a
disclosure statement in accordance with section 10-23-108 (2)(b), the agent may
use collateral received from the defendant or indemnitor to secure the following
obligations:

(a) Compliance with the bond issued on behalf of the principal;

(b) Any balance due on the premium, commission, or fee for the bail bond;
and

(c) Any actual costs incurred by the professional cash-bail agent or cash-bonding agent as a result of issuing the bail bond.

Colorado § 10-23-109 (Business practices - price limits - collateral) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.