7 Colo. Code Regs. § 1101-2-16.3
Current through Register Vol. 47, No. 24, December 25, 2024
Section 7 CCR 1101-2-16.3 - PROVISION OF BOND OR OTHER SECURITY16.3.1Statutory Reference: 8-70-114 (2)(g)(III), C.R.S16.3.2Holding a Deposit of Money or Security. Any deposit of money or securities in accordance with section 8-70-114(2)(g)(III)(A) C.R.S. shall be retained by the division in an escrow account until liability under section 8-70-114 C.R.S. is terminated, at which time it shall be returned to the organization, less any deductions pursuant to regulation 16.3.3.16.3.3Deduction From a Deposit Of Money or Security. The division may deduct from the money deposited by an employee-leasing company pursuant to rule 16.3.2 or sell the securities an employee-leasing company has so deposited to the extent necessary to satisfy any due and unpaid premiums and any applicable interest and penalties.37 CR 13, July 10, 2014, effective 8/1/201439 CR 08, April 25, 2016, effective 5/15/201639 CR 22, November 25, 2016, effective 12/15/201640 CR 11, June 10, 2017, effective 7/1/201740 CR 23, December 10, 2017, effective 12/30/201741 CR 08, April 25, 2018, effective 6/3/201841 CR 16, August 25, 2018, effective 9/14/201842 CR 06, March 25, 2019, effective 4/15/201943 CR 08, April 25, 2020, effective 3/20/202043 CR 06, March 25, 2020, effective 4/14/202043 CR 19, October 10, 2020, effective 10/30/2020