Colorado § 10-3-1607 Sanctions

Colorado Statutes

§ 10-3-1607 — Sanctions

Colorado § 10-3-1607

Title 10Insurance

Art.Regulation of Insurance Companies

This text of Colorado § 10-3-1607 (Sanctions) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-3-1607 (2026).

Text

Any insurer or insurance group that fails, without just
cause, to timely file a CGAD as required in this part 16 shall pay, after notice and a
hearing, a penalty of two hundred dollars for each day's delay. The maximum
penalty under this section is twenty-five thousand dollars. The commissioner may
reduce the penalty if the insurer or insurance group demonstrates to the
commissioner that the imposition of the penalty would constitute a financial
hardship to the insurer or insurance group.

Source: L. 2019: Entire part added, (HB 19-1291), ch. 188, p. 2089, � 1,
effective August 2.

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Any insurer or insurance group that fails, without just
cause, to timely file a CGAD as required in this part 16 shall pay, after notice and a
hearing, a penalty of two hundred dollars for each day's delay. The maximum
penalty under this section is twenty-five thousand dollars. The commissioner may
reduce the penalty if the insurer or insurance group demonstrates to the
commissioner that the imposition of the penalty would constitute a financial
hardship to the insurer or insurance group.

Source: L. 2019: Entire part added, (HB 19-1291), ch. 188, p. 2089, � 1,
effective August 2.