C.R.S. Section 12-275-128
Financial responsibility

  • rules

(1)

Every optometrist who provides health-care services within the state of Colorado shall establish financial responsibility as follows:

(a)

By maintaining commercial professional liability insurance coverage with an insurance company authorized to do business in this state in a minimum indemnity amount of one million dollars per incident and three million dollars annual aggregate per year; or

(b)

By maintaining a surety bond in a form acceptable to the commissioner of insurance in the amounts set forth in subsection (1)(a) of this section; or

(c)

By depositing cash or cash equivalents as security with the commissioner of insurance in the amounts set forth in subsection (1)(a) of this section; or

(d)

By providing any other security acceptable to the commissioner of insurance, which may include approved plans of self-insurance.

(2)

Intentionally left blank —Ed.

(a)

The board may, by rule, establish lesser financial responsibility standards than those required in subsection (1) of this section for classes of license holders who have an inactive license or who render limited or occasional optometry services because of administrative or other nonclinical duties, partial or complete retirement, or for other reasons that render the limits provided in subsection (1)(a) of this section unreasonable or unattainable.

(b)

Nothing in this section precludes or otherwise prohibits a licensed optometrist from rendering appropriate patient care on an occasional basis when the circumstances surrounding the need for care so warrant.

(3)

Each optometrist, as a condition of receiving and maintaining an active license to provide optometry services in this state, shall furnish the board evidence of compliance with subsection (1) of this section. No license shall be issued or renewed unless evidence of compliance has been furnished.

(4)

Notwithstanding the amounts specified in subsection (1) of this section, if the board receives two or more reports concerning any optometrist pursuant to section 12-275-129 during any one-year period, the minimum financial responsibility requirement shall be two times the amount specified in subsection (1) of this section. However, upon motion filed by the optometrist and the presentation of sufficient evidence to the board that one or more reports involved an action or claim that did not represent any substantial failure to adhere to accepted professional standards of care, the board may reduce the additional amount to that which would be fair and conscionable.

Source: Section 12-275-128 — Financial responsibility - rules, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-12.­pdf (accessed Oct. 20, 2023).

12‑275‑101
Legislative declaration 12‑275‑102
Applicability of common provisions 12‑275‑103
Practice of optometry defined - prescribing drugs - therapeutic optometrist - rule 12‑275‑104
Proprietor defined 12‑275‑105
Persons entitled to practice optometry - title protection of optometrists 12‑275‑106
Persons excluded from operation of this article 12‑275‑107
State board of optometry - created - members 12‑275‑108
Powers and duties of the board - rules - limitation on authority 12‑275‑109
Volunteer optometrist license 12‑275‑110
Application for license - licensure by endorsement 12‑275‑111
Current licensees - treatment and therapeutic practice 12‑275‑112
Examination - licenses 12‑275‑113
Use of prescription and nonprescription drugs - limits on prescriptions 12‑275‑114
Prescriptions - requirement to advise patients 12‑275‑115
License renewal - questionnaire - continuing education 12‑275‑116
Change of address 12‑275‑117
Licenses to be displayed 12‑275‑118
Records to be kept by the board 12‑275‑119
Patient’s exercise of free choice - release of patient records - rules 12‑275‑120
Unprofessional conduct - definitions 12‑275‑121
Mental and physical examination of licensees - confidential agreements to limit practice 12‑275‑122
Discipline - procedure - professional review - immunity - reconsideration and review of action by board - rules 12‑275‑123
Use or sale of forged or invalid certificate, degree, or license 12‑275‑124
Corporate practice prohibited - exceptions 12‑275‑125
Enforcement - injunction - defense 12‑275‑126
Unauthorized practice - penalties 12‑275‑127
Professional service corporations, limited liability companies, and registered limited liability partnerships for the practice of optometry - definitions 12‑275‑128
Financial responsibility - rules 12‑275‑129
Judgments and settlements - reporting 12‑275‑130
Repeal of article - review of functions
Green check means up to date. Up to date

Current through Fall 2024

§ 12-275-128’s source at colorado​.gov