Colorado § 10-2-1007 - Penalties and liabilities.
Full text of Colorado Colorado Revised Statutes § 10-2-1007 — Penalties and liabilities., with citation guidance and answers to common questions.
§ 10-2-1007. Penalties and liabilities.
(1) If the commissioner finds, after a hearing conducted in accordance with article 4 of title 24, C.R.S., that any person has violated any provision of this part 10, the commissioner may order:
(a) For each separate violation, a penalty in an amount not to exceed five thousand dollars;
(b) Revocation or suspension of the producer's license; and
(c) The MGA to reimburse the insurer, the rehabilitator, or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this part 10 committed by the MGA.
(2) The decision, determination, or order of the commissioner pursuant to subsection (1) of this section shall be subject to judicial review by the court of appeals pursuant to section 24-4-106 (11), C.R.S.
(3) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for in this title.
(4) Nothing contained in this part 10 is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, and auditors.
Source: L. 93: Entire article R&RE, p. 1388, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 10-2-407 as it existed prior to 1993.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 10-2-1007
What does Colorado Revised Statutes § 10-2-1007 cover?
Section 10-2-1007 ("Penalties and liabilities.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 10-2-1007?
A common citation format is "Colorado Revised Statutes § 10-2-1007" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 10-2-1007 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.