Colorado Code
Part 2 - Uniform Debt-Management Services Act
§ 5-19-213. Bond Required

(1) Be in the amount of fifty thousand dollars or other larger or smaller amount that the administrator determines is warranted by the financial condition and business experience of the provider, the history of the provider in performing debt-management services, the risk to individuals, and any other factor the administrator considers appropriate;
(2) Be issued by a bonding, surety, or insurance company authorized to do business in this state and rated at least A by a nationally recognized rating organization; and


(1) The administrator assesses expenses under section 5-19-232 (b)(1), issues a final order under section 5-19-233 (a)(2), or recovers a final judgment under section 5-19-233 (a)(4), (a)(5), or (d); or
(2) An individual recovers a final judgment pursuant to section 5-19-235 (a), (b), (c)(1), (c)(2), or (c)(4).

(1) To satisfaction of a final order or judgment under section 5-19-233 (a)(2), (a)(4), (a)(5), or (d);
(2) To final judgments recovered by individuals pursuant to section 5-19-235 (a), (b), (c)(1), (c)(2), or (c)(4), pro rata;
(3) To claims of individuals established to the satisfaction of the administrator, pro rata; and

Source: L. 2017: Entire article added with relocations, (HB 17-1238), ch. 260, p. 1147, § 4, effective August 9.
Editor's note: This section is similar to former § 12-14.5-213 as it existed prior to 2017.

Structure Colorado Code