Permanent Rulemaking Hearing held on July 14, 2020

Proposed Changes with Statement of Basis, Purpose, and Authority

Basis and Purpose:  

To cleanup a procedural error concerning the process for making final an administrative action taken by the Division of Housing against a registration/certification; and establish the process for distributing funds obtained under a letter of credit, certificate of deposit, or surety bond and the formula for pro rating the total amount of the letter of credit, certificate of deposit, or surety bond if there is more than one verified claimant. 

Statement of Authority:  

Pursuant to sections 24-32-3301(2)(b), 24-32-3301(2)(c), 24-32-3303(1)(d), 24-32-3305(1)(b), and 24-32-3305(1)(c), C.R.S.