Colorado Revised Statutes Title 5. Consumer Credit Code § 5-19-213. Bond required

(1) Be in effect during the period of registration and for two years after the provider ceases providing debt-management services to individuals in this state; and

(2) Run to this state for the benefit of this state and of individuals who reside in this state when they agree to receive debt-management services from the provider, as their interests may appear.

(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

(3) Have payment conditioned upon noncompliance of the provider or its agent with this part 2.

(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

(4) If a final order or judgment is issued under section 5-19-233(a), to the expenses charged pursuant to section 5-19-232(b)(1).