2020 Colorado Revised Statutes
Title 10 - Insurance
Article 23. Cash-bonding Agents
Section 10-23-109. Business practices - price limits - collateral.
(1) A professional cash-bail agent or cash-bonding agent shall not charge a premium or commission of more than the greater of fifty dollars or fifteen percent of the amount of bail furnished. A professional cash-bail agent or cash-bonding agent shall not assess fees for any bail bond posted by the agent with the court unless the fee is for payment of a bail bond filing charged by a court or law enforcement agency, the fee is for the actual cost of storing collateral in a secure, self-service public storage facility, or the fee is for premium financing.
(2) If a professional cash-bail agent or cash-bonding agent has issued a disclosure statement in accordance with section 10-23-108 (2)(b), the agent may use collateral received from the defendant or indemnitor to secure the following obligations:
Compliance with the bond issued on behalf of the principal;
Any balance due on the premium, commission, or fee for the bail bond; and
Any actual costs incurred by the professional cash-bail agent or cash-bonding agentas a result of issuing the bail bond.
Source: L. 2012: Entire article added with relocations, (HB 12-1266), ch. 280, p. 1525, § 41, effective July 1.
