C.R.S. § 10-4-1810

(1) After notice and hearing, the commissioner may suspend or revoke the certificate of authority to transact insurance business in this state of any member insurer that fails to timely pay a fee or to comply with the plan of operation. (2) As an alternative to suspension or revocation of a certificate of authority, as described in subsection (1) of this section, the commissioner may impose a fine on any member insurer that fails to timely pay a fee or to comply with the plan of operation. The fine must be the greater of: (a) The amount of the fee plus interest and the commissioner’s cost of enforcement; or (b) Five thousand dollars.