3 Colo. Code Regs. § 702-1-2-16-5
Current through Register Vol. 47, No. 20, October 25, 2024
Section 3 CCR 702-1-2-16-5 - RulesA. Initial insurance producer appointments pursuant to § 10-2-415.5, C.R.S. 1. A bail insurance company shall complete the following prior to appointing an insurance producer as its agent to write bail bonds: a. Confirm that the insurance producer's identity, residence, and prelicensure education set forth in § 10-2-415.5(2)(c)(I), C.R.S. as recorded with the Division is accurate.b. Obtain documentation that the insurance producer has completed the training required by § 10-2-415.5(2)(c), C.R.S. The bail insurance company shall maintain these documents for the duration of the insurance producer's appointment and for three years thereafter and shall provide these documents to the Division upon written request.c. Be satisfied that the insurance producer is trustworthy and qualified to act as its agent and that the insurance producer will hold his or herself out in good faith to the general public as the bail insurance company's bail bonding agent.2. All appointments must be effectuated by the bail insurance company using the Division's online licensing and appointment system.3. An appointment fee of $95 will be collected at the time the initial appointment is entered into the online licensing and appointment system. Appointment fees are non-refundable. Fees are payable by electronic check or credit card. If the electronic check is refused by the bank or if the credit card is declined then the appointment will not be valid and the bail insurance company will be responsible for any bank fees charged to the Division due to such refusal.B. Appointment renewals pursuant to § 10-2-415.5, C.R.S. 1. Prior to October 1 of each year, the Division will provide each bail insurance company a listing of its active insurance producer appointments and a renewal invoice.2. No later than October 1 of each year, the bail insurance company must renew the appointment of each appointed insurance producer and pay the required appointment renewal fee.3. The appointment renewal fee is $95. Appointment renewal fees are non-refundable and are payable by check. If the check is refused by the bank then the appointment renewal will not be valid and the bail insurance company will be responsible for any bank fees charged to the Division due to such refusal.C. Insurance producer appointment terminations pursuant to § 10-2-415.7, C.R.S. 1. To terminate the appointment of a bail bonding agent, the bail insurance company shall file a notice of termination with the Division using the Division's online licensing and appointment system within fifteen (15) days of the effective date of the termination. The bail insurance company shall also notify the bail bonding agent within fifteen (15) days of such termination. Notification to the bail bonding agent shall be sent by the bail insurance company via certified mail.2. If the termination is for causes listed in § 10-1-128 or § 10-2-801, C.R.S., additional notification to the Commissioner of Insurance is required as set forth in § 10-2-416, C.R.S.D. Credentials 1. Section 10-2-418(2), C.R.S requires the Division to issue Credentials to each insurance producer who is appointed by a bail insurance company that clearly identifies the person as holding authority to act as a bail bond agent.2. Effective January 1, 2013 all Credentials issued will be valid for one year. These Credentials will be issued by the Division during the month following the birth month of the producer.3. Duplicate Credentials will be issued to an insurance producer who has lost their credentials or whose credentials have otherwise been destroyed. A request for duplicate credentials must be in writing, sent via certified mail or hand delivery, and be accompanied by an affidavit stating that the Credentials have been lost or destroyed and payment of a $95 re-credentialing fee.4. An insurance producer whose bail insurance company appointment has been terminated or whose license has been revoked by the Division shall immediately relinquish their Credentials to the Division. If the insurance producer whose bail insurance company appointment has been terminated has an appointment with a different bail insurance company then the Division will issue the insurance producer new Credentials.E. Contractual agreements between insurance producers and bail insurance companies Bail insurance companies shall have a written contractual agreement directly with the insurance producer. No insurance producer shall claim to be representative of, or an agent of a bail insurance company, or accept applications or complete bail bond documents, unless the insurance producer has a written contract directly with the bail insurance company authorizing the insurance producer to act in the capacity of their agent and appointing the agent to act as a bail bonding agent on their behalf.
1. A contract with a supervising agent, general agent, managing agent, or insurance producer acting as a supervisor, who is also a representative of the bail insurance company does not constitute a direct written contract with the bail bonding agent and the bail insurance company as required in this Section 5.2. A copy of the written contractual agreement shall be maintained by the bail insurance company and the bail bonding agent during the time of the appointment and for three years after termination and shall be made available to the Division upon request.37 CR 11, June 10, 2014, effective 6/30/201437 CR 11, June 10, 2014, effective 7/1/201438 CR 09, May 10, 2015, effective 6/1/201538 CR 20, October 25, 2015, effective 11/15/201540 CR 19, October 10, 2017, effective 11/1/201740 CR 21, November 10, 2017, effective 12/1/201740 CR 21, November 10, 2017, effective 1/1/201841 CR 21, November 10, 2018, effective 12/1/201843 CR 21, November 10, 2020, effective 12/1/202045 CR 21, November 10, 2022, effective 11/30/2022