C.R.S. Section 24-30-1510
Risk management fund

  • creation
  • authorized and unauthorized payments

(1)

Intentionally left blank —Ed.

(a)

There is hereby created in the state treasury a fund to be known as the risk management fund, which shall consist of all moneys that may be appropriated thereto by the general assembly or that may be otherwise made available to it by the general assembly. Moneys “otherwise made available” shall be deemed to include transfers of moneys to the fund authorized in the general appropriation act. All interest earned from the investment of moneys in the risk management fund shall be credited to the risk management fund and become a part thereof. The moneys in the fund are hereby continuously appropriated for the purposes of the risk management fund other than the direct and indirect administrative costs of operating the risk management system. The general assembly shall make annual appropriations from the fund for the direct and indirect administrative costs of operating the risk management system that are attributable to the operation of the risk management fund. At the end of any fiscal year, all unexpended and unencumbered moneys in the fund shall remain therein and shall not be credited or transferred to the general fund or any other fund.

(b)

Notwithstanding any provision of this section to the contrary, on June 1, 2009, the state treasurer shall deduct ten million ten thousand five hundred ninety-nine dollars from the risk management fund and transfer such sum to the general fund.

(2)

The risk management fund shall maintain reserves for incurred but unpaid claims, including general liability and automobile liability claims. The risk management fund shall maintain reserves to provide for the contingency that the reserves set aside in the fund to meet estimated expenses are inadequate to cover the actual expenses realized. The board after consultation with the executive director shall recommend the amount of money that is required to maintain adequate reserves. Adequate reserves shall be maintained in the risk management fund subject to available appropriations made by the general assembly in its discretion.

(3)

Expenditures out of the risk management fund must be made in accordance with subsection (1) of this section and only for the following purposes:

(a)

To pay liability claims and expenses related thereto, brought against the state, its officials, or its employees pursuant to the “Colorado Governmental Immunity Act”, article 10 of this title; claims against the state, its officials, or its employees arising under federal law, which the state is legally obligated to pay and which are compromised or settled pursuant to section 24-30-1515 or in which a final money judgment against the state has been entered; or claims for compensatory damages against the state, its officials, or its employees pursuant to section 24-34-405;

(b)

To pay the administrative costs of operating the risk management system and the costs of purchasing services pursuant to sections 24-30-1506, 24-30-1507, and 24-30-1513;

(c)

To procure and pay premiums for one or more policies of insurance purchased pursuant to this part 15 to protect against all or any portion of the potential liabilities of the state of Colorado or of any state agency or its officers and employees;

(d)

To pay any deductible or self-insured retention contained in any insurance policy purchased by or at the direction of the executive director;

(e)

To pay liability claims and expenses related thereto when a state agency has contracted to defend and hold harmless the owner of property leased to the state agency for a state purpose if such contract limits the state’s obligation to claims arising from alleged negligent acts or omissions of the state agency and of its public employees which occurred or are alleged to have occurred during the performance of their duties and within the scope of their employment, except where such acts or omissions are willful and wanton. Such claims shall be subject to the limitations of the “Colorado Governmental Immunity Act”, article 10 of this title. No such contract shall be valid unless approved in writing by the executive director and meets the requirements of this paragraph (e).

(f)

To make payments in accordance with section 24-30-1510.7;

(g)

To fund an employee assistance program established and operated by the executive director pursuant to section 24-50-604 (1)(k);

(h)

To pay the defense of liability claims and expenses related thereto, brought against an expert witness or consultant who has statutory immunity from civil suit and who has been retained by a board or commission within the department of regulatory agencies, to render expert testimony or expert opinion or provide consultative advice, in connection with a prospective or pending disciplinary action, and who does render expert testimony or expert opinion, or provide consultative advice, to a board or commission within the department of regulatory agencies in good faith and within the scope of his or her expertise;

(i)

To pay liability claims and expenses incurred pursuant to section 24-82-1005 (2).

(4)

Moneys in the risk management fund shall not be used to pay any of the following:

(a)

Claims brought pursuant to the “Colorado Governmental Immunity Act”, article 10 of this title, for which governmental immunity has not been waived pursuant to section 24-10-106;

(b)

Claims which are actionable in contract except for claims relating to employment contracts and except for claims arising pursuant to paragraph (e) of subsection (3) of this section;

(c)

Claims for liabilities or losses which are covered under commercial insurance policies purchased by the state;

(d)

Expenses for complying with successful claims for injunctive relief;

(e)

Any other claim or expense not set forth in subsection (3) of this section.

(5)

As of July 1, 2000, Pinnacol Assurance created pursuant to section 8-45-101, C.R.S., is no longer included within, or part of, the risk management fund created pursuant to this section and the department of personnel assumes no responsibility and bears no financial obligation for the defense of, or liability for, any claims or lawsuits asserted against Pinnacol Assurance.

Source: Section 24-30-1510 — Risk management fund - creation - authorized and unauthorized payments, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-24.­pdf (accessed Oct. 20, 2023).

24‑30‑101
Department of personnel - state support services
24‑30‑102
Construction of terms
24‑30‑104
Burnham Yard rail property site - required development planning
24‑30‑201
Accounts and control - controller
24‑30‑202
Procedures - vouchers, warrants, and checks - rules - penalties - definitions
24‑30‑202.4
Collection of debts due the state - state agency options - controller’s duties - offsetting disbursements - definitions
24‑30‑202.5
Assistant state solicitors general
24‑30‑202.7
Lottery winnings offset - definitions
24‑30‑203
Refunds of money erroneously collected
24‑30‑204
Fiscal year
24‑30‑205
Duties of controller
24‑30‑207
Reports of revenue and expenditures
24‑30‑209
Statewide financial and human resources information technology systems - billing process - statewide financial information technology systems cash fund - creation
24‑30‑210
Cash fund solvency fund - creation - loans - report - legislative declaration
24‑30‑1001
Office of administrative courts - administrative courts cash fund - creation
24‑30‑1002
Appropriation of moneys
24‑30‑1003
Administrative law judges - appointment - qualifications - standards of conduct
24‑30‑1101
Legislative findings and declarations
24‑30‑1102
Definitions
24‑30‑1103
Central services
24‑30‑1104
Functions of the department - definitions - rules
24‑30‑1105
Powers of the executive director - penalties
24‑30‑1106
Appeal from decisions of director
24‑30‑1107
Existing and new equipment, personnel, applications, and systems subject to approval of director
24‑30‑1108
Revolving fund - service charges - pricing policy
24‑30‑1111
Postage meters - penalty for private use
24‑30‑1112
Permanent assignment of vehicles - state agency - verification of minimum mileage - revocation
24‑30‑1113
Assignment of vehicles to state agency officers or employees - report to legislative audit committee - definition
24‑30‑1114
Restrictions on assignment of vehicles
24‑30‑1115
Motor fleet management fund - creation
24‑30‑1117
Exclusive authority to acquire state-owned motor vehicles
24‑30‑1201
Definitions
24‑30‑1203
Purchasing requirements
24‑30‑1204
Cooperation between state agencies
24‑30‑1301
Definitions
24‑30‑1302
State buildings - transfer
24‑30‑1302.5
Office of the state architect
24‑30‑1303
Office of the state architect - responsibilities
24‑30‑1303.5
Office of the state architect to prepare and maintain inventory of state property - vacant facilities
24‑30‑1303.7
Controlled maintenance projects - flexibility in administering appropriations
24‑30‑1303.8
Governor’s mansion maintenance fund - creation - report
24‑30‑1303.9
Eligibility for state controlled maintenance funding - legislative declaration
24‑30‑1304
Life-cycle cost - legislative findings and declaration
24‑30‑1305
Life-cycle cost - application - definitions
24‑30‑1305.5
High performance standards - report - legislative declaration - definition
24‑30‑1306
Acceptance of gifts and grants
24‑30‑1307
Legislative declaration
24‑30‑1310
Funding for capital construction, controlled maintenance, or capital renewal - definitions
24‑30‑1311
Statewide planning function - responsibilities
24‑30‑1312
Accessibility signage for facilities
24‑30‑1313
Capitol complex renovation fund - created - repeal
24‑30‑1314
Capitol complex renovation - report - repeal
24‑30‑1401
Legislative declaration
24‑30‑1402
Definitions
24‑30‑1403
Professional services - listings - preliminary selections
24‑30‑1404
Contracts - definition
24‑30‑1405
Public notice
24‑30‑1406
Criminal liability
24‑30‑1407
Prior existing design plans
24‑30‑1408
Emergency contracts
24‑30‑1501
Legislative declaration
24‑30‑1502
Definitions
24‑30‑1503
Risk management system
24‑30‑1503.5
Risk management system - independent program
24‑30‑1504
Powers and duties of the department
24‑30‑1505
Powers of the executive director
24‑30‑1506
Claims investigation, claims adjustment, and support services
24‑30‑1507
Legal services
24‑30‑1508
State claims board - creation
24‑30‑1509
Powers and duties of the board
24‑30‑1510
Risk management fund - creation - authorized and unauthorized payments
24‑30‑1510.3
Risk management fund - state employee workers’ compensation account - assessment of risks to institutions of higher education
24‑30‑1510.5
Self-insured property fund - creation - authorized and unauthorized payments - executive director authorized to make payments
24‑30‑1510.7
Workers’ compensation for state employees
24‑30‑1511
State treasurer to invest funds
24‑30‑1511.5
State self-insurance funds - transfers - definition
24‑30‑1512
Risk management fund and self-insured property fund not subject to insurance laws
24‑30‑1513
State auditor - examination - report
24‑30‑1515
Compromise or settlement of claims - authority
24‑30‑1516
Rules and regulations
24‑30‑1517
Applicability
24‑30‑1519
Insurance policies
24‑30‑1520
Authorization by law to settle claims or to pay judgments
24‑30‑1801
Legislative declaration
24‑30‑1804
Institutions of higher education - statewide telecommunications network
24‑30‑2001
Definitions
24‑30‑2002
Contracts for energy analysis and recommendations
24‑30‑2003
Energy cost-savings contracts
24‑30‑2101
Short title
24‑30‑2102
Legislative declaration
24‑30‑2103
Definitions
24‑30‑2104
Address confidentiality program - creation - substitute address - uses - service by mail - application assistance centers
24‑30‑2105
Filing and certification of applications - authorization card
24‑30‑2106
Change of name, address, or telephone number
24‑30‑2107
Certification cancellation - records
24‑30‑2108
Address use by state or local government agencies
24‑30‑2109
Disclosure of actual address prohibited
24‑30‑2110
Request for disclosure
24‑30‑2111
Disclosure of address or unique identifying information in criminal and civil proceedings
24‑30‑2112
Participation in the program - orders relating to allocation of parental responsibilities or parenting time
24‑30‑2113
Rule-making authority
24‑30‑2114
Surcharge - collection and distribution - address confidentiality program surcharge fund - creation - definitions
24‑30‑2115
Address confidentiality program fund - creation - appropriations
24‑30‑2201
Short title
24‑30‑2202
Definitions
24‑30‑2203
Colorado disability funding committee
24‑30‑2204
Program to assist persons to obtain disability benefits - repeal
24‑30‑2204.5
Program to investigate, fund, and pilot projects or programs to benefit persons with disabilities
24‑30‑2205.5
Disability support fund
24‑30‑2206
License to buy and sell selected registration numbers for license plates
24‑30‑2208
Sale of registration numbers
24‑30‑2209
Creation of a private market for registration numbers - fee
24‑30‑2210
Administration
24‑30‑2211
Implementation
24‑30‑2212
Sunset review - repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 24-30-1510’s source at colorado​.gov