Who is responsible for the cost of an examination conducted on a foreign company located outside of Colorado?

The foreign company is responsible for the cost of an examination conducted on it when located outside of Colorado. This principle is rooted in regulatory practices where companies are required to bear the costs associated with compliance and oversight by the state. When an examination is performed, whether for financial stability, compliance with regulations, or ensuring consumer protection, the obligation falls on the entity being examined.

This approach incentivizes companies to maintain adequate practices and can facilitate a smoother examination process. By making the foreign company responsible, it ensures that the state can effectively manage its resources and focus its finances on necessary regulatory functions rather than funding the examination processes themselves. This reflects common practices across states and supports accountability among companies operating in multiple jurisdictions.