C.R.S. § 10-4-1709

(1) The commissioner may, after notice and opportunity for a hearing, respond to a violation of a provision of this part 17 by: (a) Taking disciplinary action against any supervising entity pursuant to section 10-2-801 ; (b) Imposing other penalties, including suspending the license of a supervising entity for a violation of this part 17, as the commissioner considers necessary or convenient to carry out this part 17; or (c) Suspending or revoking the ability of any individual working for or acting on behalf of a self-storage retailer to act under the limited lines self-storage insurance producer license.