Sanctions

C.R.S. § 10-3-1509
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
10-3-1509. Sanctions. Any insurer failing, without just cause, to timely file the ORSA summary report as required in this part 15 shall, after notice and hearing, pay 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 demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-10.docx#10-3-1509Fetched: 10/6/2026

Starting a business in Colorado? Colorado LLC guide: costs and requirements