Colorado § 44-40-121 - Licensed agent recovery reserve - payments from reserve - revocation of license.
Full text of Colorado Colorado Revised Statutes § 44-40-121 — Licensed agent recovery reserve - payments from reserve - revocation of license., with citation guidance and answers to common questions.
§ 44-40-121. Licensed agent recovery reserve - payments from reserve - revocation of license.
(1) There is hereby created in the lottery fund the licensed agent recovery reserve, which shall be used under the direction of the division in the manner prescribed in this section.
(2) (a) Beginning January 1, 1988, each licensed sales agent shall pay to the division a fee.
(b) The amount of the fee and the frequency with which it shall be collected shall be established by the commission pursuant to rule.
(c) All fees collected by the division pursuant to subsection (2)(b) of this section shall be transmitted to the state treasurer, who shall credit the same to the lottery fund, and the fees shall be maintained administratively as part of the licensed agent recovery reserve. Any interest earned on the investment of the fees in the fund shall be credited at least annually to said reserve.
(d) No money shall be appropriated from the general fund for the payment of any expenses incurred under this section, and no expenses shall be charged against the state.
(3) When a licensed sales agent has failed to remit any money owed to the lottery under rule, the division shall transfer money in the amount equivalent to the unpaid amount from the licensed agent recovery reserve to the lottery fund.
(4) If the division is required to make a transfer pursuant to subsection (3) of this section, the director shall revoke the sales agent's license in accordance with the provisions of section 44-40-107 (3). If the license is revoked, the sales agent shall not be eligible to be licensed again until he or she has repaid in full the amount paid from the licensed agent recovery reserve.
Source: L. 2018: Entire article added with relocations, (HB 18-1027), ch. 31, p. 359, § 2, effective October 1.
Editor's note: This section is similar to former § 24-35-219 as it existed prior to 2018.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 44-40-121
What does Colorado Revised Statutes § 44-40-121 cover?
Section 44-40-121 ("Licensed agent recovery reserve - payments from reserve - revocation of license.") 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 § 44-40-121?
A common citation format is "Colorado Revised Statutes § 44-40-121" (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 § 44-40-121 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.