| Purpose/Objective of Rule |
The Commissioner finds that the promulgation of this emergency regulation is imperatively necessary to implement the provisions of House Bill 12-1266, which takes effect on July 1, 2012.
Pursuant to § 10-23-105, C.R.S., Cash-Bonding Agents and Professional Cash-Bail Agents are required to post a cash qualification bond in the amount of $50,000 to secure payment of defaulted bonds and to pay any final, non-appealable judgment for failure to return collateral, including costs and attorney's fees, if awarded. This regulation sets forth the terms and conditions for such qualification bonds including the procedures required release of the qualification bond. |