(1) The commissioner may impose an administrative fine not to exceed one thousand dollars for each separate offense; may issue a letter of admonition; may place a contract seller on probation under the commissioner's close supervision on such terms and for such time as the commissioner deems appropriate; and may refuse to renew, may revoke, or may suspend the license of any contract seller if, after an investigation and after notice and a hearing pursuant to the provision of section 24-4-104, C.R.S., the commissioner determines that the contract seller has:(a) Failed to comply with or has violated any provision of this article or any regulation or order lawfully made pursuant to and within the authority of this article; or(b) Used false or misleading advertising or made any false or misleading statement or concealment in the contract seller's application for licensure; or(c) Employed any device, scheme, or artifice which results in defrauding a contract buyer; or(d) Disposed of, concealed, diverted, converted, or otherwise failed to account for any funds or assets of any contract buyer which are subject to regulation pursuant to this article; or(e) Committed any act that of, concealed, diverted, converted, or otherwise failed to account for any funds or assets of any contract buyer which are subject to regulation pursuant to this article; or(e) Committed any act that constitutes a violation of the 'Colorado Consumer Protection Act', article 1 of title 6, C.R.S.; or(f) Been convicted of, or any officer, director, or controlling shareholder has been convicted of, a crime involving fraud or misappropriation or misuse of funds; or(g) Failed to provide appropriate records requested by the commissioner as part of an investigation of a complaint filed with the commissioner.L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.This section is similar to former § 10-15-114 as it existed prior to 1995.
Colorado Legal Code