Colorado Revised Statutes Title 8. Labor and Industry § 8-67-107. Powers of the board--rules

(a) To establish standards and criteria for payment of benefits from the fund;

(b) To set minimum and maximum benefit rates; except that benefits paid by the fund shall not exceed the maximum allowed under articles 40 to 47 of this title 8 or set forth by order of the director. Minimum benefit rates shall be at the level required by articles 40 to 47 of this title 8 unless the fund lacks sufficient money as determined by the board. If benefits are paid below the amount mandated by articles 40 to 47 of this title 8, benefits shall be prioritized and paid as follows:

(c) To adjust claims, which may be performed by contracting with any appropriate entities designated as third-party administrators. Designation of a third-party administrator is subject to the approval of the director.

(d) To pay the expenses of the board as authorized by this section;

(e) To disseminate information regarding the fund;

(f) To adopt rules as necessary to carry out the purposes of this article 67, including rules regarding admission to the fund and payment of benefits in order to ensure the financial stability of the fund;

(g) To investigate claims brought for benefits and to adjust, compromise, settle, and pay covered claims to the extent permitted by statute and rule; to deny payment of benefits from the fund of all other claims and to review settlements, releases, and final orders to which the uninsured employer and injured worker were parties; and to determine the extent to which such settlements, releases, and orders may effect eligibility for benefits.

(a) Employ or retain persons as necessary to handle claims and perform other duties of the board;

(b) Intervene as a party before any court or administrative tribunal in this state that has jurisdiction over an uninsured employer or other party potentially responsible for payment of benefits;

(c) Negotiate and become a party to contracts as necessary to carry out the purposes of this article 67;

(d) Perform other acts necessary or proper to effectuate the purposes of this article 67;

(e) Purchase or otherwise obtain insurance and reinsurance policies to limit the liability of the fund for payment of benefits under this article 67; and

(f) Deny entry to the fund or payment of benefits if the underlying claim appears to be premised on fraudulent activity.