(1) The board may classify the places of employment of employers insured by Pinnacol Assurance into classes in accordance with the nature of the business in which they are engaged and the probable hazard or risk of injury to their employees. It shall determine the amount of the premiums that such employers shall pay to Pinnacol Assurance, and may prescribe in what manner such premiums shall be paid, and may change the amount thereof both in respect to any or all of such employers as circumstances may require, and the condition of their respective plants, establishments, or places of work in respect to the safety of their employees may justify. All such premiums shall be levied on a basis that shall be fair, equitable, and just as among such employers.
(2) (Deleted by amendment, L. 2002, p. 1871, § 5, effective July 1, 2002.)
Source: L. 90: Entire article R&RE, p. 535, § 1, effective July 1. L. 2002: Entire section amended, p. 1871, § 5, effective July 1.
Editor's note: This section is similar to former § 8-54-107 as it existed prior to 1990.