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- Any person who violates any provision of this article or any rule or regulation adopted pursuant to this article is subject to a civil penalty, as determined by the commissioner.
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- Before imposing any civil penalty, the commissioner shall consider the severity of the violation, the amount of harm caused by such violation, the presence or absence of a pattern of similar violations by the registrant, the effect of the proposed penalty on the ability of the registrant to continue to conduct business, and any other factors deemed relevant.
- The commissioner may request advice from the arbitration council in assessing a fine pursuant to this section.
- The maximum penalty imposed by the commissioner shall not exceed two thousand five hundred dollars per violation.
- No civil penalty shall be imposed unless the person charged is given notice and an opportunity for a hearing pursuant to article 4 of title 24, C.R.S.
- If the commissioner is unable to collect a civil penalty or if any person fails to pay all or a set portion of such civil penalty, the commissioner is authorized to retain the attorney general pursuant to section 35-27-116 to bring suit to recover such penalty. In any action brought pursuant to this section the commissioner shall be entitled to recover costs and reasonable attorney fees.
Source: L. 93: Entire article R&RE, p. 1015, § 1, effective July 1.
Editor’s note: This section is similar to former §§ 35-27-114 and 35-27-115 as they existed prior to 1993.