(1) (a) Each professional cash-bail agent and cash-bonding agent shall pay an application fee set by the division in an amount to offset the direct and indirect cost of processing registration applications and issuing a registration.
Each professional cash-bail agent and cash-bonding agent shall pay a registrationrenewal fee set by the division in an amount that offsets the direct and indirect cost of implementing this article, net of the total amount of the fees paid by that agent under paragraph (c) of this subsection (1).
Each professional cash-bail agent and cash-bonding agent shall pay to the division afee of one percent on the gross amount of all premiums and fees collected or contracted for the furnishing of bail, less any premium or fee refunded after being collected. The division may lower the fee if the amount collected would exceed the amount needed to implement this article plus a reserve of sixteen and one-half percent.
The premium fee is due and payable on the fifteenth day of January in each year.Any professional cash-bail agent or cash-bonding agent failing or refusing to render a statement and information, or to pay the fee under this section, for more than thirty days after the time specified, is liable for a penalty of up to one hundred dollars for each additional day of delinquency. The division may assess the penalty and interest at a rate of one percent per month or fraction thereof on the unpaid amount from the date when payment was due to the date when full payment is made. The division may suspend the registration of a delinquent agent until any fees, penalties, and interest are fully paid.
The division shall transfer the fees imposed by this section to the treasurer, who shallcredit the fee to the division of insurance cash fund created in section 10-1-103.
For the purpose of auditing a professional cash-bail agent's or cash-bonding agent'spremium fee statement, the division may examine any books, papers, records, agreements, or memoranda bearing upon the matters required to be included in the premium fee statement. The agent shall make the books, papers, records, agreements, or memoranda available upon request to the division.
Source: L. 2012: Entire article added with relocations, (HB 12-1266), ch. 280, p. 1514, § 41, effective July 1.