7 CCR 1101-2-16.3 - PROVISION OF BOND OR OTHER SECURITY

16.3.1 Statutory Reference: 8-70-114 (2)(g)(III), C.R.S

16.3.2 Holding 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.

16.3.3 Deduction 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.

Notes

7 CCR 1101-2-16.3

37 CR 13, July 10, 2014, effective 8/1/2014 39 CR 08, April 25, 2016, effective 5/15/2016 39 CR 22, November 25, 2016, effective 12/15/2016 40 CR 11, June 10, 2017, effective 7/1/2017 40 CR 23, December 10, 2017, effective 12/30/2017 41 CR 08, April 25, 2018, effective 6/3/2018 41 CR 16, August 25, 2018, effective 9/14/2018 42 CR 06, March 25, 2019, effective 4/15/2019 43 CR 08, April 25, 2020, effective 3/20/2020 43 CR 06, March 25, 2020, effective 4/14/2020 43 CR 19, October 10, 2020, effective 10/30/2020