Colorado § 10-5-112 Penalty for failure to comply

Colorado Statutes

§ 10-5-112 — Penalty for failure to comply

Colorado·Title 10 Insurance·Art. Nonadmitted Insurance

If any surplus line broker fails to file
the annual statement, or fails to remit the tax provided by section 10-5-111, prior to
the first day of April after the tax is due, the broker shall be liable for a fine of
twenty-five dollars for each day of delinquency commencing with the first day of
April. The tax may be collected by distraint, or the tax and fine may be recovered by
an action instituted by the commissioner in any court of competent jurisdiction.

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If any surplus line broker fails to file
the annual statement, or fails to remit the tax provided by section 10-5-111, prior to
the first day of April after the tax is due, the broker shall be liable for a fine of
twenty-five dollars for each day of delinquency commencing with the first day of
April. The tax may be collected by distraint, or the tax and fine may be recovered by
an action instituted by the commissioner in any court of competent jurisdiction.

Colorado § 10-5-112 (Penalty for failure to comply) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 49: p. 470, � 11. CSA: C. 87, � 328. CRS 53: � 72-14-11. C.R.S. 1963: � 72-13-11. L. 2005: Entire section amended, p. 736, � 2, effective January 1, 2006.