2017 Colorado Revised Statutes
Title 5 - Consumer Credit Code
Debt Management
Article 19 - Debt-Management Services
Part 2 - Uniform Debt-Management Services Act
§ 5-19-234. Suspension, revocation, or nonrenewal of registration - definitions
(a) In this section, "insolvent" means:
(1) Having generally ceased to pay debts in the ordinary course of business other than as a result of good-faith dispute;
(2) Being unable to pay debts as they become due; or
(3) Being insolvent within the meaning of the federal bankruptcy law, 11 U.S.C. sec. 101 et seq., as amended.
(b) In addition to the remedies otherwise available under this part 2, the administrator may suspend, revoke, or deny renewal of a provider's registration if:
(1) A fact or condition exists that, if it had existed when the registrant applied for registration as a provider, would have been a reason for denying registration;
(2) The provider has committed a material violation of this part 2 or a rule or order of the administrator under this part 2;
(3) The provider is insolvent;
(4) The provider or an employee or affiliate of the provider has refused to permit the administrator to make an examination authorized by this part 2, failed to comply with section 5-19-232 (b)(2) within fifteen days after request, or made a material misrepresentation or omission in complying with section 5-19-232 (b)(2); or
(5) The provider has not responded within a reasonable time and in an appropriate manner to communications from the administrator.
(c) If a provider does not comply with section 5-19-222 (f) or if the administrator otherwise finds that the public health, safety, or general welfare requires emergency action, the administrator may order a summary suspension of the provider's registration, effective on the date specified in the order.
(d) If the administrator suspends, revokes, or denies renewal of the registration of a provider, the administrator may seek a court order authorizing seizure of any or all of the money in a trust account required by section 5-19-222, books, records, accounts, and other property of the provider that are located in this state.
(e) If the administrator suspends or revokes a provider's registration, the provider may appeal and request a hearing pursuant to section 24-4-105.
