Colorado Code
Article 91 - Water Well Construction and Pump Installation Contractors
§ 37-91-107. Fees and Bonds - License Renewal - Continuing Education

(3.5) The board shall not set the application and license fees in subsections (2) and (3) of this section at amounts greater than becomes necessary to further the purposes of this article. Such amounts shall not exceed the direct and indirect costs of the board in administering the provisions of this article.
(3.7) The board is authorized to set the bond amounts in subsections (2) and (3) of this section at higher amounts if such an increase becomes necessary to further the purposes of this article.

(4.5) A licensee shall maintain the amount of financial responsibility required by subsections (2), (3), and (4) of this section for the life of the license for which the financial responsibility is required. The license of any well construction contractor or pump installation contractor who fails to maintain such financial responsibility shall lapse. A license that has so lapsed may be reinstated upon submission of current evidence of the required financial responsibility to the board and payment to the board of a one-hundred-dollar reinstatement fee.



Source: L. 67: p. 695, § 7. C.R.S. 1963: § 148-20-7. L. 79: (3) amended, p. 426, § 19, effective July 1. L. 85: (2), (3), (4), and (5) amended and (3.5) and (3.7) added, p. 1185, § 9, effective July 1. L. 87: (2), (3), (3.7), and (4) amended, p. 491, § 42, effective July 1. L. 89: (2), (3), and (4) amended and (4.5) added, p. 1428, § 2, effective April 7. L. 2003: (1), (4), (4.5), and (5) amended and (6) added, p. 1679, § 7, effective May 14.

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