§ 35-27-118 — Civil penalties

(1) (a) Any person who violates any provision of
this article or any rule or regulation adopted pursuant to this article is subject to a
civil penalty, as determined by the commissioner.

(b) (I) Before imposing any civil penalty, the commissioner shall consider the
severity of the violation, the amount of harm caused by such violation, the presence
or absence of a pattern of similar violations by the registrant, the effect of the
proposed penalty on the ability of the registrant to continue to conduct business,
and any other factors deemed relevant.

(II) The commissioner may request advice from the arbitration council in
assessing a fine pursuant to this section.

(c) The maximum penalty imposed by the commissioner shall not exceed two
thousand five hundred dollars per violation.

(2) No civil penalty shall be imposed unless the person charged is given
notice and an opportunity for a hearing pursuant to article 4 of title 24, C.R.S.

(3) If the commissioner is unable to collect a civil penalty or if any person
fails to pay all or a set portion of such civil penalty, the commissioner is authorized
to retain the attorney general pursuant to section 35-27-116 to bring suit to recover
such penalty. In any action brought pursuant to this section the commissioner shall
be entitled to recover costs and reasonable attorney fees.

Legislative History

Source: L. 93: Entire article R&RE, p. 1015, � 1, effective July 1.