C.R.S. § 10-5-115 — CO Code / Title 10 / Article 5 / Section 10-5-115
10-5-115. Authority of commissioner - assistance of brokers' association
Status: in_force

10-5-115. Authority of commissioner - assistance of brokers' association. (1) The commissioner shall maintain such facilities as may be necessary to carry out the purposes of this article.

(2) The commissioner may rely upon the advice and assistance of a duly constituted association of brokers in carrying out the purposes of this article, if the association files with the commissioner:

(a) A copy of the association's constitution and articles of agreement or association or the association's certificate of incorporation and bylaws and any rules or regulations governing the association's activities;

(b) (Deleted by amendment, L. 95, p. 496, § 16, effective May 16, 1995.)

(c) A list of the association's members;

(d) The name and address of a resident of this state upon whom notices or orders of the commissioner or process issued by the commissioner may be served.

(2.5) The commissioner may examine the association's records concerning the functions or duties performed on behalf of the commissioner by the association.

(3) The association shall provide a means for the examination of all surplus line coverages written in this state to determine whether such coverages comply with the law and such rules or regulations as may be issued by the commissioner.

(4) The commissioner may refuse to accept, or may suspend or revoke the acceptance of, an association for any of the following reasons:

(a) It reasonably appears that the association will not be able to carry out the purpose of this article;

(b) The association does not maintain and enforce rules or regulations which will assure that members of the association and persons associated with those members will comply with this article, other applicable articles of this title, and rules or regulations promulgated under either;

(c) The rules or regulations of the association do not assure a fair representation of its members in the selection of directors and in the administration of its affairs;

(d) The rules or regulations of the association do not provide for an equitable allocation of reasonable dues, fees, and other charges among members;

(e) The rules or regulations of the association impose an undue burden on competition;

(f) The association fails to meet other applicable requirements prescribed in this article.

(5) An association shall deny membership to any person who is not a licensee.

(6) A broker shall cooperate with the association and the commissioner of insurance in fulfilling the broker's statutory responsibilities under this article.

(7) There shall not be liability on the part of, nor shall a cause of action of any nature arise against, the association or its agents, employees, or directors or authorized representatives of the commissioner for actions taken or omitted by them in the performance of their powers and duties under this section.

(8) (a) Upon request from the association, the commissioner may approve the levy of an examination fee of not more than one percent of premiums charged pursuant to this article for the operation of the association to the extent that such operation relieves the commissioner of duties otherwise required of the commissioner under this article.

(b) The association may revoke the membership and the commissioner may revoke the license in this state of any licensee who fails to pay the examination fee when due, if the examination fee has been approved by the commissioner.
C.R.S. § 10-1-142 — CO Code / Title 10 / Article 1 / Part 1 / Section 10-1-142
10-1-142. Prohibition on denial of coverage or increase in premiums of insurance for livin
Status: in_force

10-1-142. Prohibition on denial of coverage or increase in premiums of insurance for living organ donors - commissioner to enforce - short title - definitions. (1) The short title of this section is the "Living Donor Protection Act of 2019".

(2) Notwithstanding any other law, a person subject to regulation by the division pursuant to this title 10 shall not:

(a) Decline or limit coverage of a person under a policy or contract for life insurance, disability income insurance, health insurance, or long-term care insurance due to the status of the person as a living organ donor;

(b) Preclude a person from donating all or part of an organ as a condition of receiving a policy or contract for life insurance, disability income insurance, health insurance, or long-term care insurance;

(c) Consider the status of a person as a living organ donor in determining the premium rate for coverage of the person under a policy or contract for life insurance, disability income insurance, health insurance, or long-term care insurance; or

(d) Otherwise discriminate in the offering, issuance, cancellation, amount of coverage, price, or any other condition of a policy or contract for life insurance, disability income insurance, health insurance, or long-term care insurance for a person based solely and without any additional actuarial risks upon the status of the person as a living organ donor.

(3) The commissioner may use any of the commissioner's enforcement powers to obtain a person's compliance with this section.

(4) (a) The division shall provide information to the public on the access of a living organ donor to insurance as specified in this section. If the division receives materials related to live organ donation from a recognized live organ donation organization, the division shall make the materials available to the public.

(b) If the department of public health and environment receives materials related to live organ donation from a recognized live organ donation organization, the department of public health and environment shall make the materials available to the public.

(c) The division and the department of public health and environment may seek and accept gifts, grants, or donations from private or public sources for the purposes of this subsection (4).

(5) As used in this section:

(a) "Disability income insurance" means a contract under which an entity promises to pay a person a sum of money in the event that an illness or injury resulting in a disability prevents the person from working.

(b) "Health insurance" means a health benefit plan as defined in section 10-16-102 (32).

(c) "Life insurance" has the same meaning as set forth in section 10-7-301.5 (5).

(d) "Living organ donor" means a living person who has donated all or part of an organ.

(e) "Long-term care insurance" has the same meaning as set forth in section 10-19-103 (5).
C.R.S. § 10-3-808 — CO Code / Title 10 / Article 3 / Part 8 / Section 10-3-808
10-3-808. Confidential treatment
Status: in_force

10-3-808. Confidential treatment. (1) [Editor's note: This version of subsection (1) is effective until January 1, 2025.] Documents, materials, or other information in the possession or control of the division that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to section 10-3-806 and all information reported pursuant to section 10-3-803 (2)(l) and (2)(m), 10-3-804, or 10-3-805 are confidential by law and privileged, are not subject to the "Colorado Open Records Act", part 2 of article 72 of title 24, C.R.S., are not subject to subpoena, and are not subject to discovery or admissible in evidence in any private civil action. However, the commissioner is authorized to use the documents, materials, or other information in the furtherance of any regulatory or legal action brought as a part of the commissioner's official duties. The commissioner shall not otherwise make the documents, materials, or other information public without the prior written consent of the insurer to which they pertain unless the commissioner, after giving the insurer and its affiliates who would be affected notice and opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication, in which event the commissioner may publish all or any part in such manner as the commissioner deems appropriate.

(1) [Editor's note: This version of subsection (1) is effective January 1, 2025.] (a) Documents, materials, or other information in the possession or control of the division that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to section 10-3-806 and all information reported pursuant to section 10-3-803 (2)(l) and (2)(m), 10-3-804, or 10-3-805 are proprietary and contain trade secrets and are confidential by law and privileged; are not subject to the "Colorado Open Records Act", part 2 of article 72 of title 24; are not subject to subpoena; and are not subject to discovery or admissible in evidence in any private civil action. However, the commissioner is authorized to use the documents, materials, or other information in the furtherance of any regulatory or legal action brought as a part of the commissioner's official duties. The commissioner shall not otherwise make the documents, materials, or other information public without the prior written consent of the insurer to which they pertain unless the commissioner, after giving the insurer and its affiliates who would be affected notice and opportunity to be heard, determines that the interest of policyholders, shareholders, or the public will be served by the publication, in which event the commissioner may publish all or any part of the documents, materials, or other information in such manner as the commissioner deems appropriate.

(b) For purposes of the information reported and provided to the division pursuant to section 10-3-804 (12)(b), the commissioner shall maintain the confidentiality of the group capital calculation and group capital ratio produced within the calculation and any group capital information received from an insurance holding company supervised by the federal reserve board or any United States group-wide supervisor.

(c) For the purposes of the information reported and provided to the division pursuant to section 10-3-804 (12)(f), the commissioner shall maintain the confidentiality of the liquidity stress test results and supporting disclosures and any liquidity stress test information received from an insurance holding company supervised by the federal reserve board and non-United States group-wide supervisors.

(2) Neither the commissioner nor any person who received documents, materials, or other information while acting under the authority of the commissioner or with whom the documents, materials, or other information are shared pursuant to this part 8 shall be permitted or required to testify in any private civil action concerning any confidential documents, materials, or information subject to subsection (1) of this section.

(3) In order to assist in the performance of the commissioner's duties, the commissioner:

(a) [Editor's note: This version of subsection (3)(a) is effective until January 1, 2025.] May share documents, materials, or other information, including the confidential and privileged documents, materials, or information subject to subsection (1) of this section, with other state, federal, and international regulatory agencies, with the NAIC and its affiliates and subsidiaries, and with state, federal, and international law enforcement authorities, including members of any supervisory college described in section 10-3-807, if the recipient agrees in writing to maintain the confidentiality and privileged status of the document, material, or other information and has verified in writing the legal authority to maintain confidentiality;

(a) [Editor's note: This version of subsection (3)(a) is effective January 1, 2025.] May share documents, materials, or other information, including the confidential and privileged documents, materials, or information subject to subsection (1) of this section and proprietary and trade secret documents and materials, with other state, federal, and international regulatory agencies, with the NAIC, with any third-party consultants designated by the commissioner, and with state, federal, and international law enforcement authorities, including members of a supervisory college described in section 10-3-807, if the recipient agrees in writing to maintain the confidentiality and privileged status of the document, material, or other information or proprietary and trade secret document and material and has verified in writing the legal authority to maintain confidentiality;

(b) Notwithstanding paragraph (a) of this subsection (3), shall share confidential and privileged documents, material, or information reported pursuant to section 10-3-804 (12) only with commissioners of states having statutes or regulations substantially similar to subsection (1) of this section and who have agreed in writing not to disclose such information;

(c) [Editor's note: This version of subsection (3)(c) is effective until January 1, 2025.] May receive documents, materials, or information, including otherwise confidential and privileged documents, materials, or information from the NAIC and its affiliates and subsidiaries and from regulatory and law enforcement officials of other foreign or domestic jurisdictions and shall maintain as confidential or privileged any document, material, or information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material, or information; and

(c) [Editor's note: This version of subsection (3)(c) is effective January 1, 2025.] May receive documents, materials, or information, including otherwise confidential and privileged documents, materials, or information and proprietary and trade secret information, from the NAIC and its affiliates and subsidiaries and from regulatory and law enforcement officials of other foreign or domestic jurisdictions and shall maintain as confidential or privileged any document, material, or information or proprietary and trade secret documents and materials received with notice or the understanding that they are confidential or privileged under the laws of the jurisdiction that is the source of the document, material, or information or proprietary and trade secret document and material; and

(d) [Editor's note: This version of subsection (3)(d) is effective until January 1, 2025.] Shall enter into written agreements with the NAIC governing the sharing and use of information provided pursuant to this part 8 consistent with this subsection (3) that must:

(I) Specify procedures and protocols regarding the confidentiality and security of information shared with the NAIC and its affiliates and subsidiaries pursuant to this part 8, including procedures and protocols for sharing by the NAIC with other state, federal, or international regulators;

(II) Specify that ownership of information shared with the NAIC and its affiliates and subsidiaries pursuant to this part 8 remains with the commissioner and that the NAIC's use of the information is subject to the direction of the commissioner;

(III) Require prompt notice to be given to an insurer whose confidential information in the possession of the NAIC pursuant to this part 8 is subject to a request or subpoena to the NAIC for disclosure or production; and

(IV) Require the NAIC and its affiliates and subsidiaries to consent to intervention by an insurer in any judicial or administrative action in which the NAIC and its affiliates and subsidiaries may be required to disclose confidential information about the insurer shared with the NAIC and its affiliates and subsidiaries pursuant to this part 8.

(d) [Editor's note: This version of subsection (3)(d) is effective January 1, 2025.] Shall enter into written agreements with the NAIC and any third-party consultant designated by the commissioner governing the sharing and use of information provided pursuant to this part 8 consistent with this subsection (3) that must:

(I) Specify procedures and protocols regarding the confidentiality and security of information shared with the NAIC or a third-party consultant designated by the commissioner pursuant to this part 8, including procedures and protocols for sharing by the NAIC with other state, federal, or international regulators. The agreement must state that the recipient agrees to maintain the confidentiality and privileged status of the documents, materials, or other information or proprietary and trade secret documents and materials and has verified in writing the legal authority to maintain such confidentiality.

(II) Specify that ownership of information shared with the NAIC or a third-party consultant pursuant to this part 8 remains with the commissioner and that the use of the information by the NAIC or the third-party consultant as designated by the commissioner is subject to the direction of the commissioner;

(II.5) Excluding documents, material, or information reported pursuant to section 10-3- 804 (12)(f), prohibit the NAIC or a third-party consultant designated by the commissioner from storing the information shared pursuant to this section in a permanent database after the underlying analysis is completed;

(III) Require prompt notice to be given to an insurer whose confidential information in the possession of the NAIC or third-party consultant designated by the commissioner pursuant to this part 8 is subject to a request or subpoena to the NAIC or third-party consultant designated by the commissioner for disclosure or production;

(IV) Require the NAIC or a third-party consultant designated by the commissioner to consent to intervention by an insurer in any judicial or administrative action in which the NAIC or a third-party consultant designated by the commissioner may be required to disclose confidential information about the insurer shared with the NAIC or a third-party consultant designated by the commissioner pursuant to this part 8; and

(V) For documents, materials, or information reported pursuant to section 10-3-804 (12)(f), where there is an agreement involving a third-party consultant, provide for notification of the identity of the consultant to the applicable insurers.

(4) The sharing of information by the commissioner pursuant to this part 8 does not constitute a delegation of regulatory authority or rule-making, and the commissioner is solely responsible for the administration, execution, and enforcement of this part 8.

(5) No waiver of any applicable privilege or claim of confidentiality in the documents, materials, or information occurs as a result of disclosure to the commissioner under this section or as a result of sharing as authorized in subsection (3) of this section.

(6) [Editor's note: This version of subsection (6) is effective until January 1, 2025.] Documents, materials, or other information in the possession or control of the NAIC pursuant to this part 8 are confidential by law and privileged, are not subject to the "Colorado Open Records Act", part 2 of article 72 of title 24, C.R.S., are not subject to subpoena, and are not subject to discovery or admissible in evidence in any private civil action.

(6) [Editor's note: This version of subsection (6) is effective January 1, 2025.] Documents, materials, or other information or proprietary and trade secret documents and materials in the possession or control of the NAIC or a third-party consultant designated by the commissioner pursuant to this part 8 are confidential by law and privileged; are not subject to the "Colorado Open Records Act", part 2 of article 72 of title 24; are not subject to subpoena; and are not subject to discovery or admissible in evidence in any private civil action.

(7) [Editor's note: Subsection (7) is effective January 1, 2025.] (a) The group capital calculation and resulting group capital ratio required by section 10-3-804 (12)(b) and the liquidity stress test along with its results and supporting disclosures required by section 10-3-804 (12)(f) are regulatory tools for assessing group risks and capital adequacy and group liquidity risks, respectively, and are not intended as a means to rank insurers or insurance holding company systems generally.

(b) (I) Except as provided in subsection (7)(b)(II) of this section, any insurer, broker, or other person engaged in any manner in the insurance business shall not advertise, announce, or state a representation regarding the group capital calculation, group capital ratio, liquidity stress test results, or supporting disclosures for the liquidity stress test of any insurer or any insurer group, or of any component derived in the calculation by directly or indirectly making, publishing, disseminating, circulating, or placing the representation before the public:

(A) In a newspaper, a magazine, or other publication; or

(B) In the form of a notice, circular, pamphlet, letter, or poster; or

(C) Over any radio or television station or any electronic means of communication available to the public; or

(D) In any other way as an advertisement.

(II) An insurer may publish an announcement, advertisement, or statement described in subsection (7)(b)(I) of this section in a written publication if the sole purpose of the announcement is to rebut the materially false statement when the announcement, advertisement, or statement was published in a written publication and the insurer is able to demonstrate to the commissioner with substantial proof the falsity or inappropriateness of such announcement, advertisement, or statement.
C.R.S. § 10-1-120.5 — CO Code / Title 10 / Article 1 / Part 1 / Section 10-1-120.5
10-1-120.5. Reporting of malpractice claims against nurses
Status: in_force

10-1-120.5. Reporting of malpractice claims against nurses. (1) Each insurance company licensed to do business in this state and engaged in writing malpractice insurance for nurses shall send to the state board of nursing, in the form prescribed by the commissioner, information relating to each malpractice claim against a licensed nurse that is settled or in which judgment is rendered against the insured.

(2) The information must include information deemed necessary by the state board of nursing to conduct a further investigation and hearing.
C.R.S. § 10-16-428 — CO Code / Title 10 / Article 16 / Part 4 / Section 10-16-428
10-16-428. Prohibition concerning state-funded medical assistance
Status: repealed

10-16-428. Prohibition concerning state-funded medical assistance. (Repealed)
C.R.S. § 10-19-107 — CO Code / Title 10 / Article 19 / Section 10-19-107
10-19-107. Performance standards
Status: in_force

10-19-107. Performance standards. (1) A long-term care insurance policy may not:

(a) Be canceled, nonrenewed, or otherwise terminated on the grounds of the age or the deterioration of the mental or physical health of the insured individual or certificate holder; or

(b) Contain a provision establishing a new waiting period in the event that existing coverage is converted to or replaced by a new or other form within the same company, except with respect to an increase in benefits voluntarily selected by the insured individual or group policyholder; or

(c) Provide coverage for skilled nursing care only or provide significantly more coverage for skilled care in a facility than coverage for lower levels of care; or

(d) Exclude coverage for dementia diseases and related disabilities.

(2) A long-term care insurance policy shall:

(a) Offer the policyholder the opportunity to designate an individual who can be contacted in the event the policy is about to lapse. If the policyholder declines to designate someone, the carrier shall obtain a signed statement that the policyholder has been offered this opportunity and declined. The policyholder has the right to periodically update his or her authorized designee.

(b) Provide a ninety-day reinstatement period for policyholders who have allowed their policies to lapse due to nonpayment of premium, who have a cognitive impairment, and who have regularly paid the required premiums. The reinstated policy shall provide the same benefits, terms, and premiums as the lapsed policy.
C.R.S. § 10-6-123 — CO Code / Title 10 / Article 6 / Section 10-6-123
10-6-123. Filing of policy provisions - no requirement of filing for pure captive insuranc
Status: repealed

10-6-123. Filing of policy provisions - no requirement of filing for pure captive insurance companies. (Repealed)
C.R.S. § 10-4-1007 — CO Code / Title 10 / Article 4 / Part 10 / Section 10-4-1007
10-4-1007. Penalty
Status: in_force

10-4-1007. Penalty. Any person who violates any of the provisions of this part 10 commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501, C.R.S.
C.R.S. § 10-20-116 — CO Code / Title 10 / Article 20 / Section 10-20-116
10-20-116. Tax exemptions
Status: in_force

10-20-116. Tax exemptions. The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real and personal property.
C.R.S. § 10-2-607 — CO Code / Title 10 / Article 2 / Part 6 / Section 10-2-607
10-2-607. Location of sales
Status: in_force

10-2-607. Location of sales. To the extent practicable, a financial institution's sale of insurance shall be in a location distinct from a teller window or common teller area. Unlicensed employees of financial institutions shall not sell insurance or annuities. Such employees may direct customers to licensed persons.
C.R.S. § 10-3-1101 — CO Code / Title 10 / Article 3 / Part 11 / Section 10-3-1101
10-3-1101. Legislative declaration
Status: in_force

10-3-1101. Legislative declaration. (1) The purpose of this part 11 is to regulate trade practices in the business of insurance by defining, or providing for the determination of, all such practices in this state that constitute unfair methods of competition or unfair or deceptive acts or practices, and by prohibiting the trade practices so defined or determined. No rules or regulations may be promulgated to adversely affect free and open competition in the sale of insurance.

(2) It is in the best interests of the citizens of this state to have transparency in the insurance claims process to further the public policy of encouraging settlement and preventing unnecessary litigation. Claimants and injured parties should fully understand the total amount of insurance coverage available to them. In addition, because payment of uninsured and underinsured motorist benefits covers the difference between the amount of the limits of any legal liability coverage and the amount of the damages sustained, it is important that the citizens of this state have accurate and reliable information about the amount of legal liability coverage available for a claim. Providing information to Colorado residents concerning the amount of liability coverage will:

(a) Help Colorado residents evaluate whether their uninsured or underinsured motorist coverage will be triggered; and

(b) Allow an insurer who provides uninsured or underinsured motorist coverage or policies more time to evaluate and place reserves on claims.
C.R.S. § 10-3-305 — CO Code / Title 10 / Article 3 / Part 3 / Section 10-3-305
10-3-305. Rights of depositors
Status: in_force

10-3-305. Rights of depositors. (1) So long as the insurer remains solvent and complies with this part 3, it may:

(a) Demand, receive, sue for, and recover the income from securities or cash deposited in accordance with this part 3;

(b) Exchange and substitute for the deposited cash or securities, or any part thereof, cash or eligible securities of equivalent or greater value; and

(c) Inspect, at reasonable times, any deposit made in accordance with this part 3.
C.R.S. § 10-4-642 — CO Code / Title 10 / Article 4 / Part 6 / Section 10-4-642
10-4-642. Prompt payment of direct benefits - legislative declaration - definitions
Status: in_force

10-4-642. Prompt payment of direct benefits - legislative declaration - definitions. (1) The general assembly finds, determines, and declares that patients and health-care providers are entitled to receive reimbursements from auto insurance entities in a timely manner. Therefore, it is in the interest of the citizens of Colorado that reasonable standards be imposed for the timely payment of claims.

(2) As used in this section, unless the context otherwise requires:

(a) "Claim" means a claim for payment of medical payments coverage benefits in accordance with the insurer's policy.

(b) "Claimant" means a policyholder, insured, or injured person entitled to medical payments benefits as a result of a motor vehicle accident or a provider with the proper assignment of benefits.

(c) "Clean claim" means:

(I) A claim where there is no additional information needed by the insurer to accept or deny the claim. A claim requiring additional information shall not be considered a clean claim and shall be paid, denied, or settled as set forth in paragraph (b) of subsection (6) of this section.

(II) A claim form that is submitted with, or after submission of, a properly executed application form for benefits currently used by the insurer by the policyholder, insured, or injured person entitled to benefits.

(3) The commissioner may, in consultation with interested parties, including health-care providers, adopt a uniform application form for medical payments benefits or a uniform claim form or both a uniform application and uniform claim form. For a uniform claim form or a uniform application form having elements provided by a health-care provider, the commissioner shall consider the uniform claim forms and elements adopted for health insurance pursuant to section 10-16-106.3. If the commissioner determines that new elements are required to establish that an injury or benefit requested is the result of a motor vehicle accident, the new elements may be listed in a separate uniform application form.

(4) (a) A claimant may submit a claim:

(I) By United States mail, first class, or by overnight delivery service;

(II) Electronically, if the insurer accepts claims electronically, to the location designated by the insurer;

(III) By facsimile to the location designated by the insurer; or

(IV) By hand delivery to the location designated by the insurer.

(b) (I) The provider may contact the insurer for the purpose of resubmission of a claim. The insurer shall have a separate facsimile process to receive resubmitted paper claims. A resubmitted claim shall be deemed received on the date of the facsimile transmission acknowledgment.

(II) If a claim is submitted electronically, it is presumed to have been received by the insurer or the insurer's clearinghouse, if applicable, on the date of the electronic verification of receipt. If a claim is submitted by facsimile, it is presumed to have been received by the insurer or the insurer's clearinghouse, if applicable, on the date of the facsimile transmission acknowledgment. If a claim is submitted by mail, it is presumed to have been received by the insurer or the insurer's clearinghouse, if applicable, three business days after the date of mailing. If a claim is submitted by overnight delivery service or by hand delivery, it is presumed to have been received on the date of delivery.

(c) The presumptions in paragraph (b) of this subsection (4) may be rebutted by:

(I) A date stamp on a claim showing the date of receipt. Such date shall be presumed the date of receipt.

(II) The fact that the insurer's records maintained in the ordinary course of business do not evidence receipt of a claim. In such case, the claim shall be deemed not to have been received by the insurer.

(d) An insurer shall maintain claim data that is accessible and retrievable for examination by the commissioner for the current year and for the two immediately preceding years. For each claim, an insurer shall provide a claim number, date of loss, date of auto accident, date of receipt of an application for benefits, date of receipt of a claim, date of payment of a claim, and date of denial or date the claim is closed without payment. An insurer shall detail all material activities relative to a claim. A claim file shall have all material documentation relative to a claim. Each material document within a claim file shall be noted as to date received, date processed, or date sent. Detailed documentation shall be contained in each claim file to permit reconstruction of the insurer's activities relative to each claim.

(5) (a) Every insurer shall provide a copy of its claim filing requirements to every insured or provider upon request within fifteen calendar days after the request is received by the insurer.

(b) Every insurer shall, within fifteen calendar days after receipt of a notification of loss, an application for benefits, or a claim, provide the necessary application or claim forms and instructions so that the claimant can comply with the policy conditions.

(6) (a) Clean claims shall be paid, denied, or settled within thirty calendar days after receipt by the insurer if submitted electronically and within forty-five calendar days after receipt by the insurer if submitted by any other means.

(b) If the resolution of a claim requires additional information, the insurer shall, within thirty calendar days after receipt of the claim, give to the claimant a full explanation in writing of what additional information is needed to resolve the claim, including any additional medical or other information related to the claim. The person receiving a request for such additional information shall submit all additional information requested by the insurer within thirty calendar days after receipt of such request. The insurer may deny a claim if a provider receives a request for additional information and fails to timely submit additional information requested under this paragraph (b), subject to the resubmittal of the claim or terms of the policy. If such person has provided all such additional information necessary to resolve the claim, the claim shall be paid, denied, or settled by the insurer within thirty days after receipt of additional information or after the applicable time period set forth in paragraph (c) of this subsection (6).

(c) Absent fraud, all claims other than clean claims shall be paid, denied, or settled within ninety calendar days after receipt by the insurer; except that the commissioner may adopt rules for the purpose of exempting an insurer from the requirement that the insurer pay, deny, or settle a claim within ninety calendar days in circumstances where the investigation of a claim by the insurer is incomplete or otherwise needs to be continued and for extraordinary or unusual claims with extenuating circumstances as determined by the commissioner. The rules shall require the insurer, within thirty days after the receipt of a claim and every thirty days thereafter, to send to the claimant or the claimant's representative, and to the health-care provider if applicable, a letter setting forth the reasons why additional time is needed. The insurer that is exempt from the ninety-day time period due to circumstances where an investigation is incomplete or otherwise needs to be continued shall pay, deny, or settle the claim within one hundred eighty days after receipt of the claim. An insurer that is exempt from the ninety-day time period shall not be exempt from payment of the interest due pursuant to subsection (7) of this section.

(d) No insurer shall deny a claim on the grounds of a specific policy provision, condition, or exclusion unless reference to such provision, condition, or exclusion is included in the denial. The denial shall be in writing and given to the claimant, and the claim file shall contain documentation of the basis for the denial. The commissioner may adopt a rule regarding the time period for delivery of the denial to the claimant, which shall be the same or shorter time period than the period in which the claim was delivered.

(7) An insurer that fails to pay, deny, or settle a clean claim in accordance with paragraph (a) of subsection (6) of this section or fails to take other required action within the time periods set forth in paragraph (b) of subsection (6) of this section shall be liable for the covered benefit and, in addition, shall pay to the claimant interest at the rate of ten percent per annum for the first one hundred eighty days and at the rate of fifteen percent per annum thereafter, on the total amount ultimately allowed on the claim, accruing from the date payment was due pursuant to subsection (6) of this section. Except for shorter time periods for clean claims, all interest begins to accrue ninety calendar days after receipt of the claim by the insurer.

(8) If an insurer delegates its claims processing functions to a third party, the delegation agreement shall provide that the claims processing entity shall comply with the requirements of this section. Any delegation by the insurer shall not be construed to limit the insurer's responsibility to comply with this section or any other applicable provision of this article.

(9) This section shall not apply to claims filed pursuant to the "Workers' Compensation Act of Colorado", articles 40 to 47 of title 8, C.R.S.

(10) The commissioner may investigate claims against an insurer that is authorized to conduct business in this state when such claims are filed by a provider related to the improper handling or denial of benefits pursuant to this section.

(11) The commissioner may impose, after proper notice and hearing, any other penalties set forth in this title against an insurer who has a pattern and practice of violations of this section.

(12) When an insured entitled to benefits under medical payments coverage is injured or believes that he or she has been injured in an accident and is examined or treated by a health-care provider, such health-care provider shall notify the insurer within thirty calendar days after the insured's initial visit. This subsection (12) shall not apply to a hospital or other health facility or entity licensed or certified pursuant to section 25-1.5-103 (1), C.R.S.
C.R.S. § 10-16-414 — CO Code / Title 10 / Article 16 / Part 4 / Section 10-16-414
10-16-414. Regulation of agents
Status: in_force

10-16-414. Regulation of agents. The commissioner may, after notice and hearing, promulgate such reasonable rules and regulations as are necessary to provide for the licensing of agents. An agent means a person directly or indirectly associated with a health-care plan who engages in solicitation or enrollment.
C.R.S. § 10-3-1502 — CO Code / Title 10 / Article 3 / Part 15 / Section 10-3-1502
10-3-1502. Definitions
Status: in_force

10-3-1502. Definitions. As used in this part 15, unless the context otherwise requires:

(1) "Insurance group" means, for the purpose of conducting an ORSA, those insurers and affiliates included within an insurance holding company system as defined in section 10-3-801 (5).

(2) "Insurer" has the same meaning as set forth in section 10-3-801 (6) and includes any political subdivision of the state created pursuant to article 45 of title 8, C.R.S.

(3) "NAIC" or "National Association of Insurance Commissioners" means the organization of insurance regulators from the fifty states, the District of Columbia, and the five United States territories.

(4) "ORSA guidance manual" means the current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the NAIC and as amended from time to time. A change in the ORSA guidance manual is effective on the January 1 following the calendar year in which the change is adopted by the NAIC.

(5) "ORSA summary report" means a confidential, high-level summary of an insurer's or insurance group's ORSA.

(6) "Own risk and solvency assessment" or "ORSA" means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer's or insurance group's current business plan and the sufficiency of capital resources to support those risks.
C.R.S. § 10-16-204 — CO Code / Title 10 / Article 16 / Part 2 / Section 10-16-204
10-16-204. Inapplicable or inconsistent provisions in individual policies of sickness and a
Status: in_force

10-16-204. Inapplicable or inconsistent provisions in individual policies of sickness and accident insurance. If any provision of part 1 of this article or this part 2 is in whole or in part inapplicable to or inconsistent with the coverage provided by a particular form of policy, the insurer, with the approval of the commissioner, shall omit from such policy any inapplicable provision or part of a provision and shall modify any inconsistent provision or part of the provision in such manner as to make the provision as contained in the policy consistent with the coverage provided by the policy.
C.R.S. § 10-16-706 — CO Code / Title 10 / Article 16 / Part 7 / Section 10-16-706
10-16-706. Intermediaries
Status: in_force

10-16-706. Intermediaries. (1) In addition to any other applicable requirements of this part 7, a contract between a carrier and an intermediary shall satisfy all the requirements of this section.

(2) Intermediaries and participating providers with whom they contract shall comply with all the applicable requirements of section 10-16-705.

(3) The responsibility to ensure that participating providers have the capacity and legal authority to furnish covered benefits shall be retained by the carrier.

(4) A carrier shall have the right to approve or disapprove participation status of a subcontracted provider in its own or a contracted network for the purpose of delivering covered benefits to the carrier's covered persons.

(5) A carrier shall maintain copies of all intermediary health-care subcontracts.

(6) If applicable, an intermediary shall transmit utilization documentation and claims paid documentation to the carrier. The carrier shall monitor the timeliness and appropriateness of payments made to participating providers and health-care services received by covered persons.

(7) If applicable, an intermediary shall maintain books, records, financial information, and documentation of services provided to covered persons at the intermediary's place of business in this state.

(8) An intermediary shall allow the commissioner access to the intermediary's books, records, financial information, and any documentation of services provided to covered persons as necessary to determine compliance with this part 7.

(9) A carrier shall have the right, in the event of the intermediary's insolvency, to require the assignment to the carrier of the provisions of a participating provider's contract addressing the provider's obligation to furnish covered services.
C.R.S. § 10-23-108 — CO Code / Title 10 / Article 23 / Section 10-23-108
10-23-108. Bail bond documents - requirements - rules
Status: in_force

10-23-108. Bail bond documents - requirements - rules. (1) The professional cash-bail agent or cash-bonding agent who posts a bail bond with the court on behalf of a defendant shall ensure that the following documents comply with the following provisions:

(a) An indemnity agreement must:

(I) Be in writing;

(II) Be signed by the professional cash-bail agent or cash-bonding agent;

(III) Be signed by the defendant or indemnitor;

(IV) Set forth the amount of bail set in the case, the name of the defendant released on the bail bond, the court case number if available, the court where the bond is executed, the premium charged, the amount and type of collateral held by the professional cash-bail agent or cash-bonding agent, and the conditions under which the collateral is returned;

(V) Contain documentation that the indemnitor has received copies of signed and dated disclosure forms; and

(VI) If the defendant or indemnitor is illiterate or does not read English, contain a note on the indemnity agreement that the agent or a third party has read or translated the agreement to the defendant or indemnitor and be affixed with an affidavit to the indemnity agreement attesting that the document was translated;

(b) A promissory note must be:

(I) In writing;

(II) Signed by the professional cash-bail agent or cash-bonding agent; and

(III) Signed by the defendant or indemnitor;

(c) A collateral receipt must:

(I) Be dated;

(II) Be in writing;

(III) Be signed by the professional cash-bail agent or cash-bonding agent;

(IV) Be signed by the defendant or indemnitor;

(V) Be prenumbered;

(VI) Contain a full description of the collateral, including the condition of the collateral at the time it is taken into custody; and

(VII) Set forth the amount of bail set in the case, the name of the defendant released on the bail bond, the court case number, the court where the bond is executed, the premium charged, the amount and type of collateral held by the agent, and the conditions under which the collateral is returned;

(d) A bail bond revocation request must be:

(I) Dated;

(II) In writing;

(III) Signed by the professional cash-bail agent or cash-bonding agent; and

(IV) Signed by the defendant or indemnitor.

(2) (a) Before accepting consideration, the professional cash-bail agent or cash-bonding agent shall commit to writing, sign, date, and obtain the defendant's or indemnitor's signature on an arrangement for the payment of all or part of the premium, commission, or fee, including the payment schedule. The signature of the professional cash-bail agent or cash-bonding agent is not an obligation to pay any debt owed to a lender. To be enforceable, interest and financial charges on any unpaid premium must comply with the "Uniform Consumer Credit Code", articles 1 to 9 of title 5, C.R.S.

(b) Before accepting consideration or taking collateral, the professional cash-bail agent or cash-bonding agent shall provide, in a form prescribed by the commissioner, a disclosure statement to each defendant and indemnitor detailing the terms of the bail bond.

(3) (a) A professional cash-bail agent or cash-bonding agent who accepts consideration for a bail bond or undertaking shall, for each payment received, provide to the person tendering payment a prenumbered, signed receipt containing the following:

(I) The date;

(II) The defendant's name;

(III) A description of the consideration and amount of money received;

(IV) The purpose for which it was received;

(V) The penal sum of the bail bond;

(VI) The name of the person tendering payment; and

(VII) The terms under which the money or other consideration is released.

(b) The professional cash-bail agent or cash-bonding agent shall provide the person tendering payment a signed and dated receipt for each premium payment listing the amount paid.

(3.5) (a) If the bond is to be secured by real estate, the bail bonding agent shall provide the property owner with a written disclosure statement in the following form at the time an initial application is filed:

Disclosure of lien against real property

Do not sign this document until you read and understand it! This bail bond will be secured by real property you own or in which you have an interest. Failure to pay the bail bond premiums when due or the defendant's failure to comply with the conditions of bail could result in the loss of your property!

(b) The disclosure required in paragraph (a) of this subsection (3.5) shall be printed in fourteen-point, bold-faced type either:

(I) On a separate and specific document attached to or accompanying the application; or

(II) In a clear and conspicuous statement on the face of the application.

(c) Before a property owner executes any instrument creating a lien against real property, the bail bonding agent shall provide the property owner with a completed copy of the instrument creating the lien against real property and the disclosure statement described in paragraph (a) of this subsection (3.5). If a bail bonding agent fails to comply fully with the requirements of paragraphs (a) and (b) of this subsection (3.5) and this paragraph (c), any instrument creating a lien against real property shall be voidable.

(d) (I) The bonding agent shall deliver to the property owner a fully executed and notarized reconveyance of title, a certificate of discharge, or a full release of any lien against real property that secures performance of the conditions of a bail bond within thirty-five days after receiving notice that the time for appealing an order that exonerated the bail bond has expired. The bonding agent shall also deliver to the property owner the original canceled note, as evidence that the indebtedness secured by any lien instrument has been paid or that the purposes of the instrument have been fully satisfied, and the original deed of trust, security agreement, or other instrument that secured the bail bond obligation. If a timely notice of appeal is filed, the thirty-five-day period begins on the day the appellate court's affirmation of the order becomes final.

(II) If the bonding agent fails to comply with the requirements of this subsection (3.5)(d), the property owner may petition the district court to issue an order directing the clerk of the court to execute a full reconveyance of title, a certificate of discharge, or a full release of any lien against real property created to secure performance of the conditions of the bail bond. To be accepted by the court, the petition must be verified and allege facts showing that the bonding agent has failed to comply with the provisions of this subsection (3.5)(d).

(III) (A) If a bonding agent fails to comply with this subsection (3.5)(d), the property owner may file a complaint with the commissioner requesting that the commissioner petition a district court to file for record a full release of any lien against real property securing performance of the conditions of the bail bond.

(B) To be accepted by the commissioner, the complaint must be verified and allege facts showing that the bonding agent has failed to comply with this subsection (3.5)(d). The complaint must include a copy of the lien the property owner is requesting be released.

(C) Upon receipt of a verified complaint meeting the requirements of subsection (3.5)(d)(III)(B) of this section, the commissioner shall mail a copy of the complaint to the bonding agent at the bonding agent's last-known address.

(D) If the time for appealing an order that exonerated the bail bond has expired at least three years before the complaint is filed, and if the commissioner does not receive a reply from the bonding agent contesting the release of the lien within thirty-five days after mailing the complaint required in subsection (3.5)(d)(III)(C) of this section, the commissioner may petition the district court to issue an order directing the clerk of the court to execute a full reconveyance of title, a certificate of discharge, or a full release of any lien against real property created to secure performance of the conditions of the bail bond. Upon the court issuing an order executing a full reconveyance of title, issuing a certificate of discharge, or releasing the lien, the commissioner shall send a copy of the lien release documents to the bonding agent.

(E) If the commissioner receives, within thirty-five days after mailing the complaint to the bonding agent, a reply from the bonding agent contesting the factual basis of the property owner's complaint, the commissioner shall inform the property owner that the property owner must petition the district court to release the lien.

(e) Any bail bonding agent who violates this subsection (3.5) shall be liable to the property owner for all damages that may be sustained by reason of the violation, plus statutory damages in the sum of three hundred dollars. The property owner shall be entitled to recover court costs and reasonable attorney fees, as determined by the court, upon prevailing in any action brought to enforce the provisions of this subsection (3.5).

(4) The professional cash-bail agent or cash-bonding agent shall prepare or execute separate agreements and documents for each time the agent posts a bail bond with the court. The agent shall give the indemnitor a copy of each document executed in the course of the bail bond transaction.

(5) For three years after the date of discharge of a bail bond and return of any collateral or proof of notice to the defendant or indemnitor that any promissory note has been satisfied, the professional cash-bail agent or cash-bonding agent shall keep at the agent's business, copies of each receipt, indemnity agreement, bond, disclosure statement, payment plan, bond revocation request, or other document or information related to the bond transaction and shall make these documents available for inspection by the commissioner or the commissioner's authorized representative during normal business hours.

(6) The indemnitor may be the defendant.

(7) The commissioner may examine the business practices, books, and records of any professional cash-bail agent or cash-bonding agent as often as the commissioner deems appropriate.
C.R.S. § 10-15-112 — CO Code / Title 10 / Article 15 / Section 10-15-112
10-15-112. Rules
Status: in_force

10-15-112. Rules. The commissioner may, after notice and hearing as provided in article 4 of title 24, C.R.S., promulgate such rules as may be reasonably necessary for the effective administration of and not inconsistent with the provisions of this article.
C.R.S. § 10-4-1909 — CO Code / Title 10 / Article 4 / Part 19 / Section 10-4-1909
10-4-1909. Rules
Status: in_force

10-4-1909. Rules. The commissioner may promulgate any rules necessary to implement this part 19.
C.R.S. § 10-16-323 — CO Code / Title 10 / Article 16 / Part 3 / Section 10-16-323
10-16-323. Conversion of corporation to mutual insurance company
Status: repealed

10-16-323. Conversion of corporation to mutual insurance company. (Repealed)
C.R.S. § 10-22-113 — CO Code / Title 10 / Article 22 / Section 10-22-113
10-22-113. Colorado affordable health care coverage easy enrollment program - advisory comm
Status: repealed

10-22-113. Colorado affordable health care coverage easy enrollment program - advisory committee - creation - appointments - duties - definitions - repeal. (1) There is hereby created the Colorado affordable health care coverage easy enrollment program for the purpose of leveraging the individual income tax filing process to maximize the enrollment of eligible uninsured individuals in a health-care coverage affordability program.

(2) (a) For the purpose of guiding the implementation and administration of the program, there is hereby created the affordable health care coverage easy enrollment advisory committee. The executive directors of the exchange and the department of revenue, or their designees, shall serve as co-chairs of the advisory committee. On or before September 1, 2020, the board shall appoint nine additional members, as specified in subsection (2)(b) of this section, to serve on the advisory committee. In making the appointments, the board shall consider the geographic, economic, ethnic, and other characteristics of the state.

(b) Members of the advisory committee must include:

(I) A representative of the department of health care policy and financing;

(II) A representative of the division;

(III) A representative of consumer advocacy groups;

(IV) A representative of small employers, as defined in section 10-16-102 (61);

(V) A representative of insurers;

(VI) A health-care consumer;

(VII) A health coverage guide or other person with expertise in the process of applying for federal insurance or assistance as provided by:

(A) Title XIX of the federal "Social Security Act", as amended, and the "Colorado Medical Assistance Act", articles 4, 5, and 6 of title 25.5; or

(B) The children's basic health plan, as defined in article 8 of title 25.5;

(VIII) An insurance producer, as defined in section 10-2-103 (6); and

(IX) A provider of income tax preparation services.

(c) Of the members first appointed, in order to ensure staggered terms, the initial term of office of five of the members is two years and the initial term of office of four of the members is four years. Thereafter, the term of office of all members is four years.

(d) Members of the advisory committee may be removed for cause by the board or by a majority vote of the advisory committee members.

(e) The advisory committee shall meet as often as necessary to carry out its duties pursuant to this section.

(f) Members of the advisory committee are not entitled to receive per diem or other compensation for performance of services for the advisory committee but may be reimbursed for actual and necessary expenses, including any required dependent care and dependent or attendant travel, food, and lodging, while engaged in the performance of official duties of the advisory committee.

(g) This subsection (2) is repealed, effective September 1, 2030.

(3) (a) The advisory committee shall:

(I) Determine the minimum information necessary to collect through the state individual income tax forms to identify uninsured individuals and allow the exchange to assess whether they are potentially eligible for enrollment in a health-care coverage affordability program or other creditable coverage;

(II) Determine the procedures that will be used to transfer tax filer information from the department of revenue to the exchange in order to facilitate the program;

(III) Recommend revisions to the state individual income tax form, supplemental schedules, or both to be implemented by the department of revenue pursuant to section 39-22-5202 that are needed to implement the program. The recommendations must include:

(A) A question asking if the tax filer wants the exchange to assess whether the uninsured individuals in the tax household are potentially eligible for a health-care coverage affordability program or other creditable coverage using information from the tax filer's state individual income tax return and other sources available to the exchange;

(B) For tax filers that want the exchange to assess potential eligibility, a request for: The identity of the uninsured individuals and any additional information, including the household size of the tax filer, that is not otherwise available to the exchange and that is deemed essential by the advisory committee for making assessments of potential eligibility; except that the request for additional information shall not include requests for citizenship, immigration, or health status;

(IV) Draft recommended instructions for the individual tax form instruction booklet that explain how to answer the questions added to the tax return form or schedules pursuant to section 39-22-5202 (1)(b) and the effects of indicating that the tax filer would like the exchange to assess the eligibility of uninsured household members;

(V) Determine the process that the exchange will use under the program to assess potential eligibility for and assist with enrollment in a health-care coverage affordability program or other creditable coverage including:

(A) A timeline for assessing each individual's potential eligibility for a health-care coverage affordability program or other creditable coverage;

(B) A process to notify individuals regarding the outcomes of assessments of potential eligibility, which process is designed to maximize health-care coverage enrollment levels; and

(C) A process for handling uninsured individuals whose status as United States citizens cannot be verified through information available to the exchange; and

(VI) Determine the feasibility of and, if feasible, recommend a process for automatic enrollment, through the program, of eligible uninsured individuals in a medical assistance program under the "Colorado Medical Assistance Act", articles 4, 5, and 6 of title 25.5, or other zero-net-premium creditable coverage.

(b) This subsection (3) is repealed, effective September 1, 2030.

(4) The exchange, through procedures determined by the advisory committee, shall:

(a) Assess whether uninsured individuals identified through the program are potentially eligible for a health-care coverage affordability program or other creditable coverage;

(b) Notify the uninsured individuals regarding their potential eligibility;

(c) Enroll or assist with enrolling the uninsured individuals in creditable coverage; and

(d) Not take additional steps to determine eligibility for or enroll an uninsured individual identified through the program if the exchange cannot verify that the uninsured individual is a United States citizen until the individual provides affirmative consent using procedures developed by the advisory committee pursuant to subsection (3)(a)(V)(C) of this section.

(5) As used in this section:

(a) (I) "Advisory committee" means the affordable health care coverage easy enrollment advisory committee.

(II) This subsection (5)(a) is repealed, effective September 1, 2030.

(b) "Creditable coverage" has the same meaning as set forth in section 10-16-102 (16).

(c) "Program" means the Colorado affordable health care coverage easy enrollment program.

(d) "Uninsured individual" means an individual who does not have creditable coverage.
C.R.S. § 10-16-145 — CO Code / Title 10 / Article 16 / Part 1 / Section 10-16-145
10-16-145. Step therapy - limitations - exceptions - definitions - rules
Status: in_force

10-16-145. Step therapy - limitations - exceptions - definitions - rules. (1) As used in this section:

(a) "Biosimilar" has the meaning set forth in 42 U.S.C. sec. 262 (i)(2).

(b) "Clinical practice guidelines" means a systematically developed statement to assist providers and covered persons in making decisions about appropriate health care for specific clinical circumstances and conditions.

(c) "Clinical review criteria" means the written screening procedures, decision abstracts, clinical protocols, and clinical practice guidelines used by a carrier or private utilization review organization to determine the medical necessity and appropriateness of the provision of health-care services. Clinical review criteria must not be more restrictive than the FDA's indication for a specific drug or health-care service.

(d) "Exigent circumstance" means a circumstance in which a covered person is suffering from a health condition that may seriously jeopardize the covered person's life, health, or ability to regain maximum functions.

(e) "Medical necessity" has the same meaning as set forth in section 10-16-112.5.

(f) "Private utilization review organization" or "organization" has the same meaning as set forth in section 10-16-112 (1)(a).

(f.5) [Editor's note: Subsection (1)(f.5) is effective January 1, 2025.] "Serious mental illness" means the following psychiatric illnesses, as defined by the American Psychiatric Association in the most recent version of the Diagnostic and Statistical Manual of Mental Disorders:

(I) Bipolar disorders (hypomanic, manic, depressive, and mixed);

(II) Depression in childhood and adolescence;

(III) Major depressive disorders (single episode or recurrent);

(IV) Obsessive-compulsive disorders;

(V) Paranoid and other psychotic disorders;

(VI) Schizoaffective disorders (bipolar or depressive); and

(VII) Schizophrenia.

(g) "Step therapy" means a protocol that requires a covered person to use a prescription drug or sequence of prescription drugs, other than the drug that the covered person's health-care provider recommends for the covered person's treatment, before the carrier provides coverage for the recommended prescription drug.

(2) If a carrier, a private utilization review organization, or a PBM requires step therapy, the carrier, organization, or PBM shall use clinical review criteria to establish the protocol for step therapy based on clinical practice guidelines.

(3) A carrier, a private utilization review organization, or a PBM shall:

(a) Make the clinical review criteria and the step-therapy exemption process available on their websites; and

(b) Upon written request, provide all specific clinical review criteria and other clinical information relating to a covered person's particular condition or disease, including clinical review criteria relating to a step-therapy exception, to the requester.

(4) (a) A carrier, a private utilization review organization, or a PBM shall grant an exception to step therapy if the prescribing provider submits justification and supporting clinical documentation, if needed, that states:

(I) The provider attests that the required prescription drug is contraindicated or will likely cause an adverse reaction or harm to the covered person;

(II) The required prescription drug is ineffective based on the known clinical characteristics of the covered person and the known characteristics of the prescription drug regimen;

(III) The covered person has tried, while under the covered person's current or previous health benefit plan, the required prescription drug or another prescription drug in the same pharmacologic class or with the same mechanism of action, and the use of the prescription drug by the covered person was discontinued due to lack of efficacy or effectiveness, diminished effect, or an adverse event;

(IV) The covered person, while on the covered person's current or previous health benefit plan, is stable on a prescription drug selected by the prescribing provider for the medical condition under consideration after undergoing step therapy or after having sought and received a step-therapy exception.

(b) (I) Except as provided in subsection (4)(b)(II) of this section, a carrier, an organization, or a PBM shall grant or deny a step-therapy exception request or an appeal of a denial of a request within:

(A) Three business days after receipt of the request; or

(B) In cases where exigent circumstances exist, within twenty-four hours after receipt of the request.

(II) If a request for a step-therapy exception or an appeal of a denial of a request is incomplete or if additional clinically relevant information is required, the carrier, organization, or PBM shall notify the prescribing provider within seventy-two hours after submission of the request, or within twenty-four hours after the submission of the request if exigent circumstances exist, that the request or appeal is incomplete or that additional clinically relevant information is required. The carrier, organization, or PBM must specify the additional information that is required in order to consider the step-therapy exception request or the appeal of the denial of the request pursuant to the criteria described in subsection (4)(a) of this section. Once the requested information is submitted to the carrier, organization, or PBM, the applicable period to grant or deny a step-therapy exception request or an appeal of a denial of a request, as specified in subsection (4)(b)(I) of this section, applies.

(III) If a carrier, an organization, or a PBM does not make a determination regarding the step-therapy exception request or the appeal of the denial of the request or does not make a request for additional or clinically relevant information within the required time, the step-therapy exception request or the appeal of the denial of the request is deemed granted.

(c) If the initial request for a step-therapy exception is denied, the carrier, organization, or PBM shall inform the covered person in writing that the covered person has the right to an internal or external review or an appeal of the adverse determination pursuant to sections 10-16-113 and 10-16-113.5.

(d) A carrier, an organization, or a PBM shall authorize coverage for the prescription drug prescribed by the covered person's prescribing provider when the step-therapy exception request is granted.

(4.5) [Editor's note: Subsection (4.5) is effective January 1, 2025.] With respect to a covered drug prescribed for serious mental illness:

(a) If, under a health benefit plan, a carrier, a private utilization review organization, or a PBM requires step therapy, the step therapy may only require a covered person to try one prescription drug other than the drug prescribed by the provider prior to providing coverage to the covered person for the drug prescribed by the covered person's provider.

(b) Notwithstanding subsection (4.5)(a) of this section, if a covered person's provider attests on a form established by the division that any of the criteria specified in subsections (4)(a)(I) to (4)(a)(IV) of this section are met, the carrier, private utilization review organization, or PBM must cover the drug prescribed by the covered person's provider without requiring step therapy.

(5) This section does not prohibit:

(a) A carrier, an organization, or a PBM from requiring a covered person to try a generic equivalent drug, a biosimilar drug, or an interchangeable biological product as defined by 42 U.S.C. sec. 262 (i)(3), unless the covered person or covered person's prescribing provider has requested a step-therapy exception and the prescribed drug meets the criteria for a step-therapy exception specified in subsection (4)(a) of this section;

(b) A carrier, an organization, or a PBM from requiring a pharmacist to make substitutions of prescription drugs consistent with part 5 of article 280 of title 12; or

(c) A provider from prescribing a drug that is determined to be medically appropriate.

(6) The commissioner may promulgate rules to implement and enforce this section.
C.R.S. § 10-3.5-106 — CO Code / Title 10 / Article 3.5 / Section 10-3.5-106
10-3.5-106. Aggregate limitations on credits
Status: repealed

10-3.5-106. Aggregate limitations on credits. (1) (a) The aggregate amount of certified capital for which premium tax credits are allowed for all certified investors under this article shall not exceed the amount that would entitle all certified investors in certified capital companies to take aggregate credits of ten million dollars per year for ten years beginning in tax year 2003, which certified capital may be invested in certified capital companies no earlier than January 31, 2002. A certified capital company, on an aggregate basis together with its affiliates, shall not file premium tax credit allocation claims in excess of the maximum amount of certified capital for which premium tax credits may be allowed at the time of filing as provided in this subsection (1); except that a certified capital company whose certification is applicable only to credits to be allocated pursuant to subparagraph (I) of paragraph (a) of subsection (2) of this section shall not file premium tax credit allocation claims in excess of the maximum amount of certified capital for which premium tax credits may be allowed pursuant to such subparagraph (I) at the time of filing.

(b) (I) Subject to subparagraph (II) of this paragraph (b) and pursuant to rules promulgated by the office, one or more certified investors may claim up to ten million dollars of state premium tax credits annually for ten years beginning in tax year 2005 for investments occurring on or after April 1, 2004, of certified capital in one or more certified capital companies to be used for qualified investments. With regard to such investments:

(A) Twenty-five percent of certified capital for which premium tax credits are allowed shall be allocated to certified investors in certified capital companies for investments in qualified rural businesses in the order in which premium tax credit allocation claims that request an allocation of premium tax credits under this sub-subparagraph (A) are filed with the office by certified capital companies on behalf of their certified investors; and

(B) After the certified capital has been allocated pursuant to sub-subparagraph (A) of this subparagraph (I), seventy-five percent of certified capital for which premium tax credits are allowed shall be allocated to certified investors in certified capital companies in the order in which premium tax credit allocation claims that request an allocation of premium tax credits under this sub-subparagraph (B) are filed with the office by certified capital companies on behalf of their certified investors.

(II) (A) Notwithstanding any other requirement of this article, of the ten million dollars of tax credits that would otherwise be claimed annually for ten years beginning in tax year 2005 pursuant to this subsection (1), five million dollars shall not be claimed pursuant to this subsection (1) and an equivalent amount of credits may instead be claimed annually pursuant to part 2 of article 46 of title 24, C.R.S.; except that, if H.B. 04-1206 is enacted at the second regular session of the sixty-fourth general assembly, becomes law, and is subsequently declared to be unconstitutional by a final judgment that invalidates the tax credits enacted by such bill, the remaining five million dollars of tax credits that would otherwise be claimed pursuant to this subsection (1) annually for each of the remaining calendar years through 2014 shall not be claimed pursuant to this subsection (1), and a total of ten million dollars of tax credits may instead be claimed annually for each of the remaining calendar years through 2014 pursuant to part 2 of article 46 of title 24, C.R.S.

(B) Repealed.

(2) (a) With regard to investments to be made in certified capital companies no earlier than January 31, 2002, but prior to January 31, 2004:

(I) Twenty-five million dollars of certified capital for which premium tax credits are allowed shall be allocated to certified investors in certified capital companies in the order in which premium tax credit allocation claims that request an allocation of premium tax credits under this subparagraph (I) are filed with the office by certified capital companies on behalf of their certified investors; and

(II) After all twenty-five million dollars have been allocated pursuant to subparagraph (I) of this paragraph (a), seventy-five million dollars of certified capital for which premium tax credits are allowed shall be allocated to certified investors in certified capital companies in the order in which premium tax credit allocation claims that request an allocation of premium tax credits under this subparagraph (II) are filed with the office by certified capital companies on behalf of their certified investors.

(b) (Deleted by amendment, L. 2004, pp. 26, 46, §§ 5, 5, effective March 4, 2004.)

(3) If two or more certified capital companies file premium tax credit allocation claims seeking an allocation of premium tax credits pursuant to the same subparagraph of paragraph (a) of subsection (2) of this section with the office on behalf of their respective certified investors on the same day and the sum of such premium tax credit allocation claims exceeds, in the aggregate, the maximum aggregate amount available under such particular subparagraph at the time of filing, the capital for which premium tax credits are allowed under such particular subparagraph shall be allocated among the certified investors on a pro rata basis. The pro rata allocation for any one certified investor shall bear the same relation to the maximum aggregate amount available under such particular subparagraph at the time of filing, as that certified investor's premium tax credit allocation claim under such particular subparagraph bears to the total of all premium tax credit allocation claims seeking an allocation of premium tax credits pursuant to the same subparagraph of paragraph (a) of subsection (2) of this section filed on behalf of all certified investors on the same day.

(4) Within five business days after the office receives a premium tax credit allocation claim filed by a certified capital company on behalf of one or more of its certified investors, the office shall notify the certified capital company of the amount of tax credits allocated to each of the certified investors in such certified capital company.

(5) If a certified capital company does not receive an investment of certified capital equaling the amount of premium tax credits allocated to a certified investor for which it filed a premium tax credit allocation claim within five business days after its receipt of notice of allocation, that portion of the premium tax credits allocated to such certified investor in the certified capital company shall be forfeited and the office shall reallocate the certified capital among the other certified investors in all certified capital companies that filed premium tax credit allocation claims under the same subparagraph under which the forfeited credits were allocated on a pro rata basis in accordance with subsection (3) of this section. The office is authorized to levy a fine of not more than fifty thousand dollars on any certified investor that does not invest the full amount of certified capital allocated by the office to such investor in accordance with the premium tax credit allocation claim filed on its behalf.

(6) The maximum amount of premium tax credit allocation claims that any one certified investor and its affiliates may file in one or more certified capital companies shall not exceed fifteen percent of the maximum aggregate amount available under subsection (1) of this section at the time of such filing; except that a certified investor that files a premium tax credit allocation claim for an investment in a certified capital company whose certification is applicable only to credits to be allocated pursuant to subparagraph (I) of paragraph (a) of subsection (2) of this section shall not file, on an aggregate basis with its affiliates, premium tax credit allocation claims in excess of the maximum amount of certified capital for which premium tax credits may be allowed pursuant to such subparagraph (I) at the time of filing.

(7) Unless its certification indicates otherwise, a certified capital company may file premium tax credit allocation claims on behalf of its certified investors pursuant to either or both of the subparagraphs of paragraph (a) of subsection (2) of this section. If the certified investors of a certified capital company are allocated premium tax credits pursuant to both subparagraphs of paragraph (a) of subsection (2) of this section, the requirements of this act shall apply to the certified capital invested pursuant to each such allocation on a separate and independent basis.
C.R.S. § 10-3-230 — CO Code / Title 10 / Article 3 / Part 2 / Section 10-3-230
10-3-230. Additional investments
Status: in_force

10-3-230. Additional investments. (1) A domestic insurance company may invest in any additional investments, except items specifically defined as nonadmitted assets in this title 10, other than article 15 of this title 10, and article 14 of title 24, without regard to any limitation, condition, restriction, or exclusion set forth in sections 10-3-215 to 10-3-229 and 10-3-242, and regardless of whether the same or a similar type of investment has been included in or omitted from these sections, subject to the following:

(a) The total amount of indebtedness secured by a lien on any single parcel of real property is an admitted asset only to the extent that such indebtedness does not exceed the value limitation set forth in section 10-3-216 (1)(a).

(a.1) Notwithstanding the provisions of paragraph (a) of this subsection (1), indebtedness, subject to the provisions of section 10-3-216 (1)(h), is an admitted asset only to the extent that such indebtedness does not exceed ninety-five percent of the current value of the real property. The aggregate investment by a company which may be admitted assets under this paragraph (a.1) shall not exceed twenty percent of the limits allowable under paragraph (c) of this subsection (1).

(b) The amount of indebtedness secured by a pledge of any collateral shall be an admitted asset only to the extent that such indebtedness does not exceed the value limitation set forth in section 10-3-228 (1)(b).

(c) The aggregate investments by a company which may be admitted assets under this section shall not exceed the lesser of five percent of its admitted assets or fifty percent of the amount by which the sum of the par value of its outstanding capital stock, if any, and its surplus exceeds the sum of the minimum capital, if any, and the minimum surplus required of such company under the applicable provision of section 10-3-201.

(d) The admitted asset value of investments in mortgage loans must not exceed the value limitations as set forth in section 10-3-216 (1)(i), (1)(j), and (2).
C.R.S. § 10-3-520 — CO Code / Title 10 / Article 3 / Part 5 / Section 10-3-520
10-3-520. Powers of liquidator
Status: in_force

10-3-520. Powers of liquidator. (1) The liquidator shall have the power:

(a) To appoint a special deputy or deputies to act for the liquidator under this part 5, and to determine the reasonable compensation of such special deputy. The special deputy shall have all powers of the liquidator granted by this section. The special deputy shall serve at the pleasure of the liquidator.

(b) To employ employees, agents, legal counsel, actuaries, accountants, appraisers, consultants, and such other personnel as the liquidator may deem necessary to assist in the liquidation;

(c) To appoint, subject to the approval of the court, an advisory committee of policyholders, claimants, or other creditors including guaranty associations should such a committee be deemed necessary. Such committee shall serve at the pleasure of the commissioner and shall serve without compensation other than reimbursement for reasonable travel and per diem living expenses. No other committee of any nature shall be appointed by the commissioner or by the court in liquidation proceedings conducted under this part 5.

(d) To fix the reasonable compensation of employees, agents, legal counsel, actuaries, accountants, appraisers, and consultants subject to the approval of the court;

(e) To pay reasonable compensation to persons appointed and to defray from the funds or assets of the insurer all expenses of taking possession of, conserving, conducting, liquidating, disposing of, or otherwise dealing with the business and property of the insurer. In the event that the property of the insurer does not contain sufficient cash or liquid assets to defray the costs incurred, the commissioner may advance the costs so incurred out of any appropriation for the maintenance of the division of insurance. Any amounts so advanced for expenses of administration shall be repaid to the commissioner for the use of the division out of the first available moneys of the insurer.

(f) To hold hearings, subpoena witnesses and compel their attendance, administer oaths, examine any person under oath, and compel any person to subscribe to the person's testimony after it has been correctly reduced to writing; and, in connection therewith, to require the production of any books, papers, records, or other documents which the liquidator deems relevant to the inquiry;

(g) To audit the books and records of all agents of the insurer insofar as those records relate to the business activities of the insurer;

(h) To collect all debts and moneys due and claims belonging to the insurer, wherever located, and for this purpose:

(I) To institute timely action in other jurisdictions, in order to forestall garnishment or attachment proceedings against such debts;

(II) To do such other acts as are necessary or expedient to collect, conserve, or protect its assets or property, including the power to sell, compound, compromise, or assign debts for purposes of collection upon such terms and conditions as the liquidator deems best; and

(III) To pursue any creditors' remedies available to enforce the liquidator's claims;

(i) To conduct public and private sales of the property of the insurer;

(j) To use assets of the estate of an insurer under a liquidation order to transfer policy obligations to a solvent assuming insurer, if the transfer can be arranged without prejudice to applicable priorities under section 10-3-541;

(k) To acquire, hypothecate, encumber, lease, improve, sell, transfer, abandon, or otherwise dispose of or deal with any property of the insurer at its market value or upon such terms and conditions as are fair and reasonable. The liquidator shall also have power to execute, acknowledge, and deliver any and all deeds, assignments, releases, and other instruments necessary or proper to effectuate any sale of property or other transaction in connection with the liquidation.

(l) To borrow money on the security of the insurer's assets or without security and to execute and deliver all documents necessary to such transaction for the purpose of facilitating the liquidation. Any funds so borrowed may be repaid as an administrative expense and may be given priority over any other claims in class 1 under the priority of distribution pursuant to section 10-3-541.

(m) To enter into such contracts as are necessary to carry out the order to liquidate, and to affirm or disavow any contracts to which the insurer is a party; except that the liquidator shall not disavow, reject, or repudiate a federal home loan bank security agreement or any pledge agreement, security agreement, collateral agreement, guarantee agreement, or other similar arrangement or credit enhancement relating to a security agreement to which a federal home loan bank is a party;

(n) To continue to prosecute and to institute in the name of the insurer or in the liquidator's own name any and all suits and other legal proceedings, in this state or elsewhere, and to abandon the prosecution of claims deemed unprofitable to pursue further. If the insurer is dissolved under section 10-3-519, the liquidator shall have the power to apply to any court in this state or elsewhere for leave to be substituted for the insurer as plaintiff.

(o) To prosecute any action which may exist on behalf of the creditors, members, policyholders, or shareholders of the insurer against any officer of the insurer or any other person;

(p) To remove any records and property of the insurer to the offices of the commissioner or to such other place as may be convenient for the purposes of efficient and orderly execution of the liquidation. Guaranty associations and foreign guaranty associations shall have such reasonable access to the records of the insurer as is necessary for them to carry out their statutory obligations.

(q) To deposit in one or more banks in this state such sums as are required to meet current administration expenses and dividend distributions;

(r) To invest all sums not currently needed, unless the court orders otherwise;

(s) To file any necessary documents for record in the office of any recorder of deeds or record office where property of the insurer is located, in this state or elsewhere;

(t) To assert all defenses available to the insurer as against third persons, which defenses shall include but not be limited to statutes of limitation, statutes of frauds, and the defense of usury. A waiver of any defense by the insurer after a petition in liquidation has been filed shall not bind the liquidator. Whenever a guaranty association or foreign guaranty association has an obligation to defend any suit, the liquidator shall give precedence to such obligation and may defend only in the absence of a defense by such guaranty associations.

(u) To exercise and enforce all the rights, remedies, and powers of any creditor, shareholder, policyholder, or member, including any power to avoid any transfer or lien that may be conferred by law whether or not such power is conferred by sections 10-3-525 to 10-3-527;

(v) To intervene in any proceeding, wherever instituted, which could result in the appointment of a receiver or trustee, and to act as the receiver or trustee whenever such appointment is offered;

(w) To enter into agreements with any receiver, commissioner, or insurance department of any other state relating to the rehabilitation, liquidation, conservation, or dissolution of an insurer doing business in both states;

(x) To exercise, in a manner consistent with the provisions of this part 5, all powers now held or hereafter conferred upon receivers by the laws of this state.

(2) (a) If a company placed in liquidation issued liability policies on a claims-made basis, and if such policies provided an option to purchase an extended period to report claims, then the liquidator may make available to holders of such policies, for a charge, an extended period to report claims subject to the conditions stated in this subsection (2). The extended reporting period shall be made available only to those insureds who have not secured substitute coverage. The extended period made available by the liquidator shall begin upon termination of any extended period to report claims in the basic policy and shall end at the earlier of the final date for filing of claims in the liquidation proceeding or eighteen months after the order of liquidation.

(b) The extended period to report claims made available by the liquidator shall be subject to the terms of the policy to which it relates. The liquidator shall make available such extended period within sixty days after the order of liquidation at a charge to be determined by the liquidator subject to approval of the court. Such offer shall be deemed rejected unless the offer is accepted in writing and the charge is paid within ninety days after the order of liquidation. No commissions, premium taxes, assessments, or other fees shall be due on the charge pertaining to the extended period to report claims.

(3) The enumeration, in this section, of the powers and authority of the liquidator shall not be construed as a limitation upon the liquidator, nor shall it exclude in any manner the liquidator's right to do such other acts not specifically enumerated or otherwise provided for in this section as may be necessary or appropriate for the accomplishment of, or in aid of the purpose of, liquidation.

(4) Notwithstanding the powers of the liquidator as stated in subsections (1) and (2) of this section, the liquidator shall have no obligation to defend claims or to continue to defend claims subsequent to the entry of a liquidation order.
C.R.S. § 10-3.5-109 — CO Code / Title 10 / Article 3.5 / Section 10-3.5-109
10-3.5-109. Annual review - decertification - penalties
Status: in_force

10-3.5-109. Annual review - decertification - penalties. (1) The office shall conduct an annual review of each certified capital company to determine whether the certified capital company is abiding by the requirements of certification, to advise the certified capital company as to the eligibility status of its qualified investments, and to ensure that no investment has been made in violation of this article. The cost of the annual review shall be paid by each certified capital company according to a reasonable fee schedule adopted by the office.

(2) (a) (I) Within the period ending ten years after an allocation date, a certified capital company shall have made qualified investments in an amount cumulatively equal to:

(A) One hundred percent of the certified capital allocated to its certified investors on such allocation date. Failure to comply with this requirement shall not subject the certified capital company to decertification.

(B) At least one-third of the certified capital allocated to its certified investors under section 10-3.5-106 (2)(a)(II) in qualified businesses that are in the seed or early stage. Seed or early stage investments of certified capital allocated under section 10-3.5-106 (2)(a)(II) and section 10-3.5-106 (2)(a)(I) shall both count toward meeting the requirement of this sub-subparagraph (B). Failure to comply with this requirement shall not subject the certified capital company to decertification.

(II) Beginning on the tenth anniversary of an allocation date, a certified capital company shall make no further distributions of any kind, including qualified distributions, from certified capital or proceeds or gains from any type of investment of certified capital, unless and until the certified capital company has made qualified investments cumulatively equal to one hundred percent of the certified capital allocated to its certified investors on such allocation date; except that this subparagraph (II) shall not prohibit payments on indebtedness of the certified capital company, including indebtedness to certified investors, on qualified debt instruments or distributions permitted by section 10-3.5-108 (2)(b).

(III) If a certified capital company fails to have made qualified investments cumulatively equal to one hundred percent of the certified capital allocated to its certified investors on such allocation date within the period ending:

(A) Twelve years after an allocation date, the percentage reported to the division of housing in section 10-3.5-108 (3)(b) shall equal sixty percent.

(B) Sixteen years after an allocation date, the percentage reported to the division of housing in section 10-3.5-108 (3)(b) shall equal one hundred percent, and the economic development commission shall have the authority over all monetary and investment assets of the certified capital company, including, but not limited to, the ability to select a new manager for all future investments of the certified capital company's assets.

(b) Any material violation of section 10-3.5-107 shall be grounds for decertification of the certified capital company, assessment of an administrative fine determined by the office by rule, or both. Any material violation of this article occurring on or after May 27, 2004, shall be grounds for assessment of an administrative fine pursuant to a schedule determined by the office by rule. Violations involving a use of funds that is unauthorized under this article shall require the repayment or reinvestment of the funds, and fines for such violations shall not exceed an amount equal to the amount of funds involved. Fines for violations not involving the misuse of funds shall not exceed one hundred thousand dollars. If the office determines that a certified capital company is not in compliance with the requirements referenced in this paragraph (b), it shall, by written notice, inform the officers of the certified capital company that the certified capital company may be subject to decertification, or the assessment of a fine as allowed by this paragraph (b), one hundred twenty days after the date of mailing of the notice unless the deficiencies are corrected and the certified capital company is again in compliance with all requirements for certification.

(c) (I) For the purpose of determining compliance with this article, including all requirements for distributions and certification, regardless of any claim that such records or operations are confidential or otherwise exempt from inspection, the office may, upon reasonable notice, inspect the records and operations of:

(A) A certified capital company; or

(B) If the information received pursuant to sub-subparagraph (A) of this subparagraph (I) is insufficient, a qualified business or qualified rural business.

(II) A record that is exempt from inspection pursuant to section 24-72-204, C.R.S., shall be exempt from inspection while in the custody of the office if the requirements of part 2 of article 72 of title 24, C.R.S., are complied with, and the office and its employees shall not disclose the confidential or exempt portions of the contents of any such record to anyone outside of the office unless disclosure of the confidential or exempt portions of the contents of such record is required to effectuate final administrative action against a certified capital company pursuant to this section.

(3) At the end of the one-hundred-twenty-day period provided in subsection (2) of this section, if the certified capital company is still not in compliance with the requirements referenced in paragraph (b) of subsection (2) of this section, the office may do either or both of the following, as appropriate:

(a) Send a notice of decertification to the certified capital company and to all other appropriate state agencies, including without limitation the division of insurance in the department of regulatory agencies;

(b) Assess an administrative fine pursuant to paragraph (b) of subsection (2) of this section against the certified capital company. The assessment shall occur only after the director of the office holds a hearing in accordance with section 24-4-105, C.R.S. Judicial review may be obtained in the court of appeals pursuant to section 24-4-106 (11), C.R.S. The office shall transfer any such fine that it receives to the state treasurer, who shall credit it to the general fund.

(4) Decertification of a certified capital company may cause the recapture of premium tax credits previously claimed and the forfeiture of future premium tax credits to be claimed by certified investors with respect to such certified capital company, as follows:

(a) Decertification of a certified capital company within three years after an allocation date shall cause the recapture of all premium tax credits allocated to its certified investors on such allocation date that were previously claimed and the forfeiture of all premium tax credits allocated to its certified investors on such allocation date that are still to be claimed by certified investors with respect to such certified capital company.

(b) When a certified capital company meets all requirements for continued certification under section 10-3.5-107 (1)(a) with respect to certified capital allocated on a particular allocation date and subsequently fails to meet the requirements for continued certification under the provisions of section 10-3.5-107 (1)(b) with respect to such certified capital, those premium tax credits allocated to the certified investors of the certified capital company on such allocation date that have been or will be taken by certified investors within three years after such allocation date shall not be subject to recapture or forfeiture, but all other premium tax credits allocated to the certified investors of the certified capital company on such allocation date that have been or will be taken by certified investors shall be subject to recapture or forfeiture.

(c) Once a certified capital company has met all requirements for continued certification under section 10-3.5-107 (1) with respect to certified capital allocated on a particular allocation date and is subsequently decertified, those premium tax credits allocated to the certified investors of the certified capital company on such allocation date that have been or will be taken by certified investors within five years after such allocation date shall not be subject to recapture or forfeiture. Those premium tax credits allocated to the certified investors of the certified capital company on such allocation date to be taken after the fifth anniversary of such allocation date shall be subject to forfeiture only if the certified capital company is decertified within five years after such allocation date.

(d) Once a certified capital company has invested an amount cumulatively equal to one hundred percent of the certified capital allocated to its certified investors on a particular allocation date in qualified investments, all premium tax credits allocated to such certified investors on such allocation date that were claimed or remain to be claimed by its certified investors are no longer subject to recapture or forfeiture.

(5) Once a certified capital company has invested an amount cumulatively equal to one hundred percent of its certified capital in qualified investments and complied with sections 10-3.5-107 (3)(a) and 10-3.5-108 (2)(a)(I)(B), the certified capital company shall no longer be subject to regulation by the office except insofar as is necessary to oversee the distributions made pursuant to section 10-3.5-108 (3)(b).

(6) The office shall send written notice to the address of each certified investor whose premium tax credit has been subject to recapture or forfeiture, using the address shown on the most recent premium tax filing.

(7) The office shall have the authority to waive any recapture or forfeiture of credits if, after considering all facts and circumstances, it determines that such waiver will have the effect of furthering the economic development of the state.
C.R.S. § 10-1-204 — CO Code / Title 10 / Article 1 / Part 2 / Section 10-1-204
10-1-204. Conduct of examinations - conferences - penalty
Status: repealed

10-1-204. Conduct of examinations - conferences - penalty. (1) (a) In conducting the examination, the examiners shall observe those guidelines and procedures set forth in the examiners' handbook adopted by the national association of insurance commissioners and the Colorado insurance examiners handbook. The commissioner may also employ other guidelines or procedures as the commissioner deems appropriate.

(b) Repealed.

(2) (a) Every company or person from whom information is sought and all officers, directors, and agents of the company or person shall provide to the examiners timely, convenient, and free access at reasonable hours at its offices to all books, records, accounts, papers, tapes, computer records, and other documents relating to the property, assets, business, and affairs of the company being examined. The company or person shall make the books, records, and documents available for examination or inspection at the office location of the division when the commissioner determines that it is reasonably cost-effective to do so. The officers, directors, employees, and agents of the company or person shall facilitate the examination and aid in the examination to the extent it is in their power to do so.

(b) (I) The refusal of any company or any of its officers, directors, employees, or agents to submit to examination or to comply with any reasonable written request of the examiners shall be grounds for suspension, revocation, denial, or nonrenewal of any license or authority held by the company and subject to the commissioner's jurisdiction.

(II) Proceedings for any suspension or revocation pursuant to this subsection (2) shall be conducted in accordance with section 10-1-110.

(3) Repealed.

(4) Any person who knowingly or willfully testifies falsely in reference to any matter material to an examination or inquiry commits a class 2 misdemeanor.

(5) Any person who knowingly or willfully makes any false certificate, entry, or memorandum upon any of the books or papers of a company or upon any statement filed or offered to be filed in the division or used in the course of any examination or inquiry, with the intent to deceive the commissioner or any person appointed by the commissioner to conduct or make the examination or inquiry, commits a class 2 misdemeanor.

(6) (a) In addition to any other powers granted to the commissioner in this section or in any other provision of law, the commissioner may require any company, entity, or new applicant to be examined by independent examiners certified by the society of financial examiners or the insurance regulatory examiners society, actuaries who are members of the American academy of actuaries, or by any other qualified and competent loss reserve specialists, independent risk managers, independent certified public accountants, auditors, other examiners of insurance companies, or combination of such persons. Any domestic company may make a request to the commissioner to be so examined.

(b) (I) The commissioner may accept, as part of an examination, reports made by any person qualified and competent to conduct the examination as set forth in this subsection (6); except that neither the person, nor any member of the person's immediate family, may be:

(A) An officer of, connected with, or financially interested in the company, entity, or applicant being examined, other than as a policyholder; or

(B) Financially interested in any other corporation or person affected by the examination or by any related investigation or hearing.

(II) A person that conducts an examination pursuant to this subsection (6) shall keep strictly confidential all information, regardless of its source, obtained through any examination or about any examinee and shall disclose the information only to the commissioner or the examinee upon the specific request of either. The commissioner shall establish guidelines for assuring the neutrality of those persons to be authorized to supplement the examination procedures authorized in this section.

(III) The examinee shall pay the reasonable expenses and charges of a person retained or designated pursuant to this subsection (6) directly to the person. The examinee may contest the amount of fees, costs, and expenses charged by the person by filing an objection with the commissioner, setting forth the charges that the examinee considers to be unreasonable and the basis for the claim that the charges are unreasonable. A disputed amount is not due to the examiner unless the commissioner reviews the objection and makes a written finding that the disputed charges were reasonable in relation to the examination performed.

(7) Nothing contained in this part 2 shall be construed to limit the commissioner's authority to terminate or suspend any examination in order to pursue other legal or regulatory action pursuant to the insurance laws of this state. Findings of fact and conclusions made pursuant to any examination shall be prima facie evidence in any legal or regulatory action.

(8) Nothing contained in this part 2 shall be construed to limit the commissioner's authority to use and, if appropriate, to make public, if consistent with section 10-3-414, any final or preliminary examination report, any examiner or company work papers or other documents, or any other information discovered or developed during the course of any examination in the furtherance of any legal or regulatory action that the commissioner may, in the commissioner's sole discretion, deem appropriate.

(9) (a) For examinations of foreign companies made outside the borders of this state and of executive or branch offices of domestic companies located outside the borders of this state, the examined company shall pay the costs of the examination, including the expenses of the commissioner and the commissioner's assistants, who must be paid the same compensation as other examiners on such examinations.

(b) and (c) Repealed.

(d) When insurance companies not authorized to do business in this state, companies adjudged insolvent, or companies for any cause withdrawing from this state neglect, fail, or refuse to pay the reasonable charges for examination as approved by the commissioner, such charges shall be paid by the state treasurer from the general fund upon the order of the commissioner, and the amount so paid shall be a first lien upon all assets and property of such company and may be recovered by suit by the attorney general on behalf of the state of Colorado and restored to the general fund.

(10) and (11) Repealed.
C.R.S. § 10-1-122 — CO Code / Title 10 / Article 1 / Part 1 / Section 10-1-122
10-1-122. Reporting of malpractice claims against architects
Status: in_force

10-1-122. Reporting of malpractice claims against architects. Each insurance company doing business in this state and engaged in the writing of malpractice insurance for architects shall send to the state board of licensure for architects, professional engineers, and professional land surveyors, in the form prescribed by the commissioner, information relating to each malpractice claim against a licensed architect or a corporation, partnership, or group of persons practicing architecture that is settled or in which judgment is rendered against the insured within ninety days after the effective date of such settlement or judgment.
C.R.S. § 10-2-802 — CO Code / Title 10 / Article 2 / Part 8 / Section 10-2-802
10-2-802. Surrender of license
Status: in_force

10-2-802. Surrender of license. (1) An insurance producer license issued under this article, although issued and delivered to the licensee, shall at all times be the property of the state of Colorado and shall be surrendered or returned promptly to the commissioner by personal delivery or by certified or registered mail within fifteen days under any of the following conditions:

(a) Suspension, revocation, or termination of the license;

(b) Discontinuation or nonrenewal of the license by the licensee;

(c) Cessation of residency in this state or, in the case of a nonresident licensee, cessation of residency in the licensee's resident state; or

(d) Suspension, termination, or revocation of a nonresident licensee's license in the state of residence.

(2) The commissioner may require surrender of an insurance producer license for any proper reason in addition to the grounds stated in subsection (1) of this section.

(3) As to any insurance producer license issued pursuant to this article which is lost, stolen, or destroyed while in the possession of the licensee, the commissioner may accept, in lieu of return of the license, the affidavit of the individual licensee or, in the case of an insurance agency or business entity, the person given responsibility for custody of the license, as to the facts concerning such loss, theft, or destruction.
C.R.S. § 10-7-204 — CO Code / Title 10 / Article 7 / Part 2 / Section 10-7-204
10-7-204. Reciprocal provisions
Status: in_force

10-7-204. Reciprocal provisions. Policies of group insurance, when issued in this state by any company not organized under the laws of this state, may contain any provision required by the law of the state or territory or district of the United States under which the company is organized. Any group policy may be issued or delivered in this state which in the opinion of the commissioner contains provisions on any one or more of the several foregoing requirements more favorable to the employer or to the employee than required prior to April 4, 1919. Policies issued in other states or countries by companies organized in this state may contain any provision required by the laws of the state, territory, district, or country in which the same are issued, anything in this part 2 to the contrary notwithstanding.
C.R.S. § 10-19-105 — CO Code / Title 10 / Article 19 / Section 10-19-105
10-19-105. Extraterritorial jurisdiction - group long-term care insurance
Status: in_force

10-19-105. Extraterritorial jurisdiction - group long-term care insurance. A group long-term care insurance coverage shall not be offered to a resident of this state under a group policy issued in another state to a group described in section 10-19-103 (4)(d), unless this state or another state having statutory and regulatory long-term care insurance requirements substantially similar to those adopted in this state has made a determination that such requirements have been met.
C.R.S. § 10-3-243 — CO Code / Title 10 / Article 3 / Part 2 / Section 10-3-243
10-3-243. Derivative transactions - definitions - restrictions - rules
Status: in_force

10-3-243. Derivative transactions - definitions - restrictions - rules. (1) For the purposes of this section, unless the context otherwise requires:

(a) "Counter-party exposure amount" means:

(I) The net amount of credit risk attributable to a derivative instrument entered into with a business entity other than through a qualified exchange or qualified foreign exchange, or cleared through a qualified clearinghouse as an over-the-counter derivative instrument. The net amount of credit risk shall equal:

(A) The market value of the over-the-counter derivative instrument if the liquidation of the derivative instrument would result in a final cash payment to the insurer; or

(B) Zero if the liquidation of the derivative instrument would not result in a final cash payment to the insurer.

(II) If over-the-counter derivative instruments are entered into under a written master agreement that provides for netting of payments owed by the respective parties, and the domiciliary jurisdiction of the counter-party is either within the United States or within a foreign jurisdiction listed in the purposes and procedures manual of the national association of insurance commissioners' securities valuation office as eligible for netting, the net amount of credit risk shall be the greater of zero or the net sum of:

(A) The market value of the over-the-counter derivative instruments entered into under the agreement, the liquidation of which would result in a final cash payment to the insurer; and

(B) The market value of the over-the-counter derivative instruments entered into under the agreement, the liquidation of which would result in a final cash payment by the insurer to the business entity.

(III) For open transactions, market value shall be determined at the end of the most recent quarter of the insurer's fiscal year and shall be reduced by the market value of acceptable collateral held by the insurer or placed in escrow by one or both parties.

(b) (I) "Derivative instrument" means an agreement, option, instrument, or a series or combination thereof:

(A) To make or take delivery of, or assume or relinquish, a specified amount of one or more underlying interests or to make a cash settlement in lieu thereof; or

(B) That has a price, performance, value, or cash flow based primarily upon the actual or expected price, level, performance, value, or cash flow of one or more underlying interests.

(II) (A) "Derivative instrument" includes options, warrants used in a hedging transaction and not attached to another financial instrument, caps, floors, collars, swaps, forwards, futures, and any other agreements, options, or investments that are substantially similar and any agreements, options, and instruments permitted under rules adopted by the commissioner.

(B) "Derivative instrument" does not include investments that are otherwise permitted pursuant to this article, nor does "derivative instrument" include repurchase, reverse repurchase, dollar roll, securities lending, or similar transactions.

(c) "Hedging transaction" means a derivative transaction that is entered into and maintained to reduce or manage:

(I) The risk of a change in value, yield, price, cash flow, or quantity of assets or liabilities that an insurer has acquired or incurred or anticipates acquiring or incurring; or

(II) The currency exchange rate risk or the degree of exposure as to assets or liabilities that an insurer has acquired or incurred or anticipates acquiring or incurring.

(d) "Income generation" means a derivative transaction involving the writing of covered call options, covered put options, covered caps, or covered floors that is intended to generate income or enhance return.

(e) "Replication transaction" means a derivative transaction or combination of derivative transactions that is intended to replicate the investment in one or more assets that an insurer is authorized to acquire or sell under this title. A derivative transaction that is entered into as a hedging transaction shall not be considered a replication transaction.

(2) A domestic insurer may, directly or indirectly through an investment subsidiary, engage in derivative transactions under this section by:

(a) Using derivative instruments to engage in hedging transactions if, as a result of and after giving effect to the transactions:

(I) The aggregate statement value of options, caps, floors, and warrants not attached to another financial instrument purchased and used in hedging transactions does not exceed seven and one-half percent of its admitted assets;

(II) The aggregate statement value of options, caps, and floors written in hedging transactions does not exceed three percent of its admitted assets; and

(III) The aggregate potential exposure of collars, swaps, forwards, and futures used in hedging transactions does not exceed six and one-half percent of its admitted assets;

(b) Entering into the following types of income generation transactions if, as a result of and after giving effect to the transactions, the aggregate statement value of the fixed income or equity assets that are subject to call or that generate the cash flows for payments under the caps or floors, plus the face value of fixed income securities underlying derivative instruments subject to call, plus the amount of the purchase obligations under the puts, does not exceed ten percent of its admitted assets:

(I) Sales of covered call options on noncallable fixed income securities, callable fixed income securities if the option expires by its terms prior to the end of the noncallable period, or derivative instruments based on fixed income securities;

(II) Sales of covered call options on equity securities, if the insurer holds in its portfolio, or is able to immediately acquire through the exercise of options, warrants, or conversion rights already owned, the equity securities subject to call during the complete term of the call option sold;

(III) Sales of covered puts on investments that the insurer is permitted to acquire under this section, if the insurer has placed into escrow, or entered into a custodial agreement segregating, cash or cash equivalents with a market value equal to the amount of its purchase obligations under the put during the complete term of the put option sold; or

(IV) Sales of covered caps or floors, if the insurer holds in its portfolio the investments generating the cash flow to make the required payments under the caps or floors during the complete term that the cap or floor is outstanding.

(c) An insurer may use derivative instruments for replication transactions if any asset being replicated is subject to all the provisions and limitations on the making thereof specified in this title with respect to investments by the insurer as if the transaction constituted a direct investment by the insurer in the replicated asset.

(d) An insurer shall include all counter-party exposure amounts in determining compliance with general diversification requirements and medium- and low-grade investment limitations under this section.

(e) Any investments in derivative investments shall be made in accordance with a written derivative use plan approved by the company's board of directors. The derivative use plan must be available for review by the commissioner upon request. An insurer must be able to demonstrate to the commissioner the intended hedging characteristics and ongoing effectiveness of the derivative transactions through cash flow testing or other appropriate analysis.

(f) The commissioner may approve additional transactions involving the use of derivative instruments in excess of the limits in this section.

(3) Notwithstanding any provision of this section to the contrary, domestic insurers are prohibited from establishing margin accounts without the prior approval of the commissioner; except that the commissioner shall approve reasonable plans for domestic insurance companies to use financial futures or short selling techniques for hedging purposes.

(4) The commissioner may promulgate rules as necessary to implement this section.
C.R.S. § 10-15-116 — CO Code / Title 10 / Article 15 / Section 10-15-116
10-15-116. Surrender of license
Status: in_force

10-15-116. Surrender of license. (1) A contract seller may surrender a license by:

(a) Filing written notice with the commissioner;

(b) Submitting a list of all outstanding preneed contracts, including the name of the contract buyer, the method of funding for the preneed contract, the preneed contract price, the amount of funds received, and the amount of funds held in trust;

(c) Paying all outstanding fines and invoices due to the state of Colorado; and

(d) Submitting the current certificate of authority.

(2) Upon receipt of the notice, the commissioner shall review the preneed contract seller's trust funds and evidence of all outstanding preneed contracts.

(3) Upon determining that the available assets are sufficient to meet any remaining preneed contract liabilities, the commissioner shall deactivate the license.

(4) The contract seller shall continue to keep the trust fund intact and in trust after the license is inactive, and the trustee shall disburse the funds in trust in accordance with preneed contracts until the funds are exhausted.

(5) The commissioner has jurisdiction over the inactive contract seller and to require the reports required by section 10-15-104 and inspect the records required by this article so long as there are funds in trust or preneed contracts that are not fulfilled. When the funds in trust are exhausted or each preneed contract is fulfilled, the commissioner shall finally cancel the license of the contract seller.

(6) Upon a finding that an emergency exists that will harm consumers, the commissioner may by order administer preneed contracts and accounts if the business of the contract seller closes due to financial insolvency, criminal activity, or license suspension.
C.R.S. § 10-14-611 — CO Code / Title 10 / Article 14 / Part 6 / Section 10-14-611
10-14-611. Licensing of agents
Status: in_force

10-14-611. Licensing of agents. Agents of societies shall be licensed in accordance with the statutory provisions regulating the licensing, revocation, suspension, or termination of a license of resident and nonresident agents as provided in part 4 of article 2 of this title, and subject to the exceptions provided in section 10-2-401 (3).
C.R.S. § 10-16-119 — CO Code / Title 10 / Article 16 / Part 1 / Section 10-16-119
10-16-119. Requirements for excess loss or stop-loss health insurance used in conjunction w
Status: repealed

10-16-119. Requirements for excess loss or stop-loss health insurance used in conjunction with self-insured employer benefit plans under the federal "Employee Retirement Income Security Act" - data collection 2013-18 - rules. (1) Any entity issuing excess loss insurance shall file all policy forms with the division and certify compliance with the provisions of this title.

(2) All excess loss insurance shall be issued to cover the employer's liability under the employer's self-insured obligation. Excess loss insurance shall meet the following requirements:

(a) The policy shall only be issued to insure an employer and not the employer's employees;

(b) Payment by the issuer of the insurance shall only be made to the employer and not the employees or providers;

(c) Commencing with policies issued or renewed on and after January 1, 2003, the minimum retention to the employer shall be no less than fifteen thousand dollars per person per plan year with a minimum one hundred twenty percent of expected claims aggregate.

(3) Repealed.
C.R.S. § 10-11-117 — CO Code / Title 10 / Article 11 / Part 1 / Section 10-11-117
10-11-117. Title insurance agents - certain names prohibited
Status: in_force

10-11-117. Title insurance agents - certain names prohibited. On and after July 1, 1969, no agent for a title insurance company shall adopt a firm name containing the words "title insurance", "title guaranty", or "title guarantee", unless such words are followed by the words "agent" or "agency". The words "agent" or "agency" must be in the same size and type as the words preceding them. This section shall not apply to any title insurance company acting as agent for another title insurance company.
C.R.S. § 10-3-548 — CO Code / Title 10 / Article 3 / Part 5 / Section 10-3-548
10-3-548. External audit of receiver's books
Status: in_force

10-3-548. External audit of receiver's books. The district court in and for the city and county of Denver may, as it deems desirable, cause audits to be made of the books of the commissioner relating to any receivership established under this part 5, and a report of each such audit shall be filed with the commissioner and with the court. The books, records, and other documents of the receivership shall be made available to the auditor at any time without notice. The expense of each audit shall be considered a cost of administration of the receivership.
C.R.S. § 10-22-115 — CO Code / Title 10 / Article 22 / Section 10-22-115
10-22-115. Public awareness and education campaign - board - report - repeal
Status: repealed

10-22-115. Public awareness and education campaign - board - report - repeal. (1) (a) On or before July 1, 2023, the board shall create and implement a public awareness and education campaign in order to educate consumers in Colorado regarding the options for obtaining health-care coverage.

(b) (I) On or before September 1, 2023, the board shall use the public awareness and education campaign to educate consumers in Colorado on how to attain and retain health-care coverage based on their health-care needs and financial circumstances so they can access the health care they need. The campaign must include efforts to:

(A) Improve health literacy among consumers in Colorado;

(B) Assist consumers in Colorado who lose minimum essential coverage; and

(C) Reduce the number of individuals eligible for health-care coverage who remain uninsured or without health-care coverage.

(II) The campaign must include information about eligibility and costs where practicable.

(c) The public awareness and education campaign must include marketing and outreach to help consumers in this state who, at the end of the COVID-19 public health emergency as declared and extended by the United States secretary of health and human services, are no longer eligible for benefits under the "Colorado Medical Assistance Act", articles 4, 5, and 6 of title 25.5, or the "Children's Basic Health Plan Act", article 8 of title 25.5, to understand coverage options and to transition to health-care coverage obtained through the exchange.

(d) The board may use print or electronic media, written material, social media, direct mail, or any effective means of outreach to create awareness and educate consumers throughout the campaign.

(2) The board shall annually report to the committee at the first scheduled meeting of the committee each calendar year starting in 2024. The board shall include in the report the following information:

(a) The public awareness and education campaign activities of the board in the prior calendar year;

(b) The amount of money spent on the campaign in the prior calendar year and a detailed accounting of how the money was spent; and

(c) Any recommendations of the board concerning changes to the public awareness and education campaign and the continuation or repeal of the duties of the board concerning the campaign.

(3) This section is repealed, effective December 31, 2028. The committee may report a bill to the legislative council of the general assembly pursuant to section 10-22-107 (5) to extend or eliminate the repeal date in this section.
C.R.S. § 10-12-405 — CO Code / Title 10 / Article 12 / Part 4 / Section 10-12-405
10-12-405. Applicability of other code and corporation code provisions
Status: in_force

10-12-405. Applicability of other code and corporation code provisions. Domestic mutual insurers, incorporating or qualifying to transact any or all of the classes of insurance designated in section 10-3-102, shall be subject to all provisions of this title generally applicable to other incorporated insurers, specifically including the provisions of article 3 of this title, and in case of conflict between this part 4 and other provisions of this title, the provisions of this part 4 shall control. Domestic mutual insurers shall be subject to additional articles of this title as they are applicable to the class or classes of insurance made by such domestic mutual insurer. Domestic mutual insurers shall not be required to have or issue capital stock or shares nor shall they be required to distribute an annual report to a member other than at the time of the initial policy issuance or once each year on renewal. Except as otherwise provided in this part 4, incorporated mutual insurers shall be deemed to be incorporated or organized under the general corporation law of this state.
C.R.S. § 10-3-1003 — CO Code / Title 10 / Article 3 / Part 10 / Section 10-3-1003
10-3-1003. Service of process upon unauthorized insurer
Status: in_force

10-3-1003. Service of process upon unauthorized insurer. (1) Any of the following acts in this state, effected by mail or otherwise, by an unauthorized foreign or alien insurer: The issuance or delivery of contracts of insurance to residents of this state or to corporations authorized to do business therein; the solicitation of applications for such contracts; the collection of premiums, membership fees, assessments, or other considerations for such contracts; or any other transaction of insurance business, is equivalent to and constitutes an appointment by such insurer of the commissioner and his successor in office to be its true and lawful attorney, upon whom may be served all lawful process in any action, suit, or proceeding instituted by or on behalf of an insured or beneficiary arising out of any such contract of insurance; and any such act shall be signification of its agreement that such service of process is of the same legal force and validity as personal service of process in this state upon such insurer.

(2) Such service of process shall be made by delivering to and leaving with the commissioner or some person in apparent charge of his office two copies thereof and the payment to him of ten dollars which shall be taxed as part of costs of the proceeding. The commissioner shall forthwith mail by certified mail one of the copies of such process to the defendant at its last-known principal place of business and shall keep a record of all process so served upon him. Such service of process is sufficient, if notice of such service and a copy of the process are sent within ten days thereafter by certified mail by plaintiff or plaintiff's attorney to the defendant at its last-known principal place of business, and if the defendant's receipt or receipt issued by the post office with which the letter is certified, showing the name of the sender of the letter and the name and address of the person to whom the letter is addressed, and the affidavit of the plaintiff or plaintiff's attorney showing a compliance herewith are filed with the clerk of the court in which such action is pending on or before the date the defendant is required to appear or within such further time as the court may allow.

(3) Service of process in any such action, suit, or proceeding shall, in addition to the manner provided in subsection (2) of this section, be valid if served upon any person within this state who, in this state on behalf of such insurer, is soliciting insurance, or making, issuing, or delivering any contract of insurance, or collecting or receiving any premium, membership fee, assessment, or other consideration for insurance, and if a copy of such process is sent within ten days thereafter by registered mail by the plaintiff or plaintiff's attorney to the defendant at the last-known principal place of business of the defendant, and if the defendant's receipt or the receipt issued by the postoffice with which the letter is registered, showing the name of the sender of the letter and the name and address of the person to whom the letter is addressed, and the affidavit of the plaintiff or plaintiff's attorney showing a compliance herewith are filed with the clerk of the court in which such action is pending on or before the date the defendant is required to appear or within such further time as the court may allow.

(4) No plaintiff or complainant shall be entitled to a judgment by default under this section until the expiration of thirty days from date of the filing of the affidavit of compliance.

(5) Nothing in this section shall limit or abridge the right to serve any process, notice, or demand upon any insurer in any other manner permitted by law.
C.R.S. § 10-16-702 — CO Code / Title 10 / Article 16 / Part 7 / Section 10-16-702
10-16-702. Legislative declaration
Status: in_force

10-16-702. Legislative declaration. (1) The general assembly hereby finds, determines, and declares that the purposes of this part 7 are:

(a) To incorporate consumer protections in the creation and maintenance of provider networks by carriers;

(b) To establish standards to assure the adequacy, accessibility, and quality of health-care services offered under a managed care plan; and

(c) To establish requirements for written agreements between carriers offering managed care plans and participating providers regarding the standards, terms, and provisions under which the participating provider will provide services to covered persons.
C.R.S. § 10-5-119 — CO Code / Title 10 / Article 5 / Section 10-5-119
10-5-119. Disclosures regarding claims-made policies by surplus line brokers or insurers
Status: in_force

10-5-119. Disclosures regarding claims-made policies by surplus line brokers or insurers. (1) In the event that a contract procured or placed by a Colorado surplus line broker is on a claims-made or other nonoccurrence policy form, the broker or the nonadmitted insurer shall stamp on the face of the policy a clear disclosure, as prescribed by the commissioner, which shall be in predominate type.

(2) The disclosure requirement in subsection (1) of this section shall not apply to transactions with exempt commercial policyholders as defined by section 10-4-1402 and the rules adopted by the commissioner pursuant to such section.
C.R.S. § 10-1-305 — CO Code / Title 10 / Article 1 / Part 3 / Section 10-1-305
10-1-305. Market conduct examinations
Status: in_force

10-1-305. Market conduct examinations. (1) The commissioner may conduct a market conduct examination of any company as often as the commissioner, in the commissioner's sole discretion, deems appropriate; except that the commissioner shall rely upon the state of domicile to conduct market conduct examinations of those eligible nonadmitted insurers regulated in accordance with article 5 of this title 10.

(2) To the extent practicable, the commissioner shall coordinate a market conduct examination of a foreign company authorized under this title 10 to do business in this state with the insurance commissioner of the company's state of domicile.

(3) (a) Except when extraordinary circumstances indicating a risk to consumers requires immediate action, at least sixty days before starting a market conduct examination, the division shall notify the company that a market conduct examination will be performed.

(b) The division shall use the standard data request or a successor or modified product that is substantially similar to the standard data request.

(c) At the same time the notice is sent to the company, the division shall provide notice on the NAIC's examination tracking system or successor NAIC product that a market conduct examination has been scheduled.

(4) (a) Except when extraordinary circumstances indicating a risk to consumers requires immediate action, at least thirty days before starting the market conduct examination, the division shall offer, in writing, to conduct a preexamination conference with the company's examination coordinator and key personnel to discuss:

(I) Early resolution and simplification of procedures;

(II) Avoidance of the production of unnecessary or duplicative information; and

(III) Facilitation of complete, accurate, just, speedy, and inexpensive disposition of the examination.

(b) Except when extraordinary circumstances indicating a risk to consumers requires immediate action, at least thirty days before starting the market conduct examination, the division shall prepare and provide to the company subject to the examination a work plan consisting of the following:

(I) The name and address of the company being examined;

(II) The name and contact information of the market conduct surveillance personnel who will be conducting the examination;

(III) The type of market conduct examination being conducted;

(IV) The scope of the examination;

(V) The date the examination is scheduled to begin;

(VI) A time estimate for the duration of the examination; and

(VII) An estimated cost for the examination.

(c) If a market conduct examination is expanded beyond the scope provided to the company in the work plan, the division shall:

(I) Provide written notice to the company explaining the extent of and reasons for the expansion; and

(II) Provide the company with a revised work plan as soon as practicable.

(5) Before concluding a market conduct examination, the division shall offer, in writing, to hold a predraft conference with the company subject to the examination at least thirty days before filing a draft report. If the company chooses to have a predraft conference, the division shall design and conduct the predraft conference in accordance with the examination report provisions of the Market Regulation Handbook to facilitate:

(a) Resolution of outstanding issues;

(b) Discussion of possible corrective actions;

(c) Review of the examination report before it is filed in draft form; and

(d) Complete, accurate, just, speedy, and inexpensive conclusion of the examination.

(6) (a) The division shall adhere to the following procedure or timeline, unless a mutual agreement is reached with the company to modify the procedure or timeline:

(I) The division shall deliver the draft report to the company within sixty days after completion of the market conduct examination, which is the date when the division confirms in writing that the examination is completed.

(II) The company may respond with written submissions or rebuttals challenging any issue contained in the draft report within thirty days after the date of the draft report. Any issue in the draft report that is not challenged by the company is deemed accepted by the company. The company's written submissions and rebuttals must be included in the market conduct surveillance personnel's work papers.

(III) Unless a mutual agreement is reached to extend the deadline, within thirty days after the period allowed for the company's written submissions or rebuttals ends, the division shall provide to the company a final report. The division shall not include any issues in the final report that were not included in the draft report without providing the company an opportunity to supplement its submissions and rebuttals in order to respond to any new issue. The company must file any supplement to its submissions and rebuttals within fourteen days after the division issues the final report.

(IV) Within thirty days after issuance of the final report, the company must accept the findings of the final report or request a written hearing.

(b) If the company accepts the findings of the final report, the following procedures apply:

(I) The commissioner shall issue an order adopting the final report as written or with specified modifications or corrections within thirty days after the company accepts the report.

(II) (A) The commissioner shall include with an order issued pursuant to subsection (6)(b)(I) of this section findings and conclusions resulting from the commissioner's consideration and review of the final report, relevant market conduct surveillance personnel work papers, and any written submissions or rebuttals.

(B) An order issued pursuant to subsection (6)(b)(I) of this section is a final agency action and shall be served upon the company by certified mail together with a copy of the adopted final report. Within sixty days after issuance of the adopted final report, the company shall file affidavits executed by each of its directors stating under oath that the directors have received a copy of the final report and related orders.

(III) Notwithstanding the requirements of section 10-1-127, if the final agency order modifies or corrects the final report accepted by the company, the company may appeal the modified or corrected portions of the final agency order, including the penalty or all or part of any fine or civil penalty imposed in the order, to the district court pursuant to section 24-4-106. In the absence of any modification or corrections to the final report accepted by the company, the company does not have a right to judicial review of the final agency action adopted by the commissioner except for the right to appeal the penalty or all or part of any fine or civil penalty imposed in the order to the district court pursuant to section 24-4-106.

(c) If the company requests a written hearing, the following procedures apply:

(I) The company must request the written hearing in writing and must specify the issues in the final report that the company is challenging. The company is limited to challenging the issues that were previously challenged in the company's written submission and rebuttal or supplemental submission and rebuttal as provided pursuant to subsections (6)(a)(II) and (6)(a)(III) of this section.

(II) The hearing shall be conducted by written arguments submitted to the commissioner.

(III) Discovery is limited to the market conduct surveillance personnel's work papers that are relevant to the issues the company is challenging. The relevant market conduct surveillance personnel's work papers are deemed admitted and included in the record. No other forms of discovery, including depositions and interrogatories, are allowed, except upon the written agreement of the company and the division.

(IV) Only the company and the division may submit written arguments.

(V) The company must submit its written argument within thirty days after it requests the hearing.

(VI) The division shall submit its written response within thirty days after the end of the period allowed for the company to submit its written argument.

(VII) The commissioner shall issue a decision accompanied by findings and conclusions resulting from the commissioner's consideration and review of the written arguments, the final report, relevant market conduct surveillance personnel work papers, and any written submissions or rebuttals. The commissioner's order is a final agency action and shall be served upon the company by certified mail together with a copy of the final report. Unless the effective date of the final agency order is postponed pursuant to section 24-4-106 (5), within sixty days after issuance of the final agency order, the company shall file affidavits executed by each of its directors stating under oath that the directors have received a copy of the final report and related orders.

(VIII) Any portion of the final report that is not or cannot be challenged by the company is incorporated into the decision of the commissioner.

(IX) Notwithstanding the requirements of section 10-1-127, the commissioner's decision is a final agency action appealable to the district court pursuant to section 24-4-106.

(7) Findings of fact and conclusions of law in the commissioner's final agency action are prima facie evidence in any legal or regulatory action.

(8) (a) The commissioner shall continue to hold the content of any final agency action of a market conduct examination as private and confidential for a period of forty-nine days after the final agency action. After the forty-nine-day period expires, the commissioner shall open the final agency action for public inspection if a court of competent jurisdiction has not stayed its publication.

(b) Nothing in this part 3 prevents the commissioner from disclosing the content of an examination report, preliminary examination report, or results, or any matter relating to a report or results, to the division or to the insurance division of any other state or agency or office of the federal government at any time if the division, agency, or office receiving the report or related matters agrees and has the legal authority to hold it confidential in a manner consistent with this part 3.
C.R.S. § 10-16-506 — CO Code / Title 10 / Article 16 / Part 5 / Section 10-16-506
10-16-506. Reserve requirement - exception
Status: in_force

10-16-506. Reserve requirement - exception. (1) A prepaid dental care plan organization formed under part 1 of this article and this part 5 at all times shall maintain for protection of enrollees a financial reserve consisting of two percent of prepaid charges collected from enrollees for the plan, until such reserve totals five hundred thousand dollars. Such reserve shall be in addition to the deposit prescribed by section 10-16-505.

(2) The reserve prescribed by subsection (1) of this section shall not apply with respect to a prepaid dental care plan organization which is funded by a federal, state, or municipal government or by any political subdivision thereof and which meets the requirements of section 10-16-505 (5).
C.R.S. § 10-16-317 — CO Code / Title 10 / Article 16 / Part 3 / Section 10-16-317
10-16-317. Exemption of direct payment methods
Status: in_force

10-16-317. Exemption of direct payment methods. Nothing contained in part 1 of this article or this part 3 shall be construed to affect or apply to hospitals, or other licensed health-care institutions, nor to any individuals, partnerships, associations, or corporations which are the direct purveyors of health services; nor shall anything contained in part 1 of this article or this part 3 be construed to in any way limit the rights of such hospitals, or other licensed health-care institutions or purveyors of health services, to establish methods of payment directly with the purchasers of their services; except such methods of payment by all corporations subject to part 1 of this article and this part 3 shall be on a prospective reimbursement basis as required by section 10-16-318; but the commissioner may require from any such institution or purveyor of services such information as will enable the commissioner to determine whether any such arrangements for payment for services are subject to the provisions of part 1 of this article and this part 3.
C.R.S. § 10-16-307 — CO Code / Title 10 / Article 16 / Part 3 / Section 10-16-307
10-16-307. Authority to do business
Status: in_force

10-16-307. Authority to do business. No corporation subject to the provisions of part 1 of this article and this part 3 shall transact any business in this state unless it first procures from the commissioner a certificate of authority stating that the requirements of the laws of this state have been complied with and authorizing it to do business. The certificate of authority shall expire on June 30 each year and shall be renewed annually if the corporation has continued to comply with the provisions of part 1 of this article and this part 3.
C.R.S. § 10-3-1504 — CO Code / Title 10 / Article 3 / Part 15 / Section 10-3-1504
10-3-1504. ORSA requirement
Status: in_force

10-3-1504. ORSA requirement. Subject to section 10-3-1506, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA guidance manual. The ORSA must be conducted no less than annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.
C.R.S. § 10-14-605 — CO Code / Title 10 / Article 14 / Part 6 / Section 10-14-605
10-14-605. Examination of societies
Status: in_force

10-14-605. Examination of societies. The examination of societies, both at the initial formation and at any time during which any such society is authorized to transact business in this state, shall follow the same standards and procedures that apply to life insurers. The cost of any such examination may be assessed by the commissioner to be paid by the society.
C.R.S. § 10-16-105.7 — CO Code / Title 10 / Article 16 / Part 1 / Section 10-16-105.7
10-16-105.7. Health benefit plan open enrollment periods - special enrollment periods - rules
Status: in_force

10-16-105.7. Health benefit plan open enrollment periods - special enrollment periods - rules. (1) (a) A carrier offering an individual health benefit plan in this state shall permit an individual to purchase an individual health benefit plan during the initial and annual open enrollment periods.

(b) The initial open enrollment period begins October 1, 2013, and extends through March 31, 2014.

(c) For benefit years beginning on or after January 1, 2015, the annual open enrollment period begins October 15 and extends through December 7 of the preceding calendar year.

(d) For purposes of this subsection (1), the benefit year for health benefit plans purchased during the initial and annual enrollment periods is a calendar year.

(e) The commissioner shall establish rules in accordance with federal law for the implementation of this subsection (1).

(2) (a) A carrier offering a group health benefit plan in this state shall permit an employer to purchase a group health benefit plan at any point during the year.

(b) In the case of health benefit plans offered in the small group market, a carrier may decline to offer coverage to a small employer that is unable to comply with a material plan provision relating to employer contribution or group participation rules, as required by section 10-16-105 (3)(b), and that carrier may limit the availability of coverage for a group it has declined to an enrollment period that begins November 15 and ends December 15 of each year or begins and ends on dates set by the commissioner by rule.

(c) The coverage is effective consistent with the dates determined by the commissioner by rule.

(3) (a) (I) A carrier offering an individual health benefit plan in this state shall establish special enrollment periods during which an individual for whom a triggering event has occurred may enroll in an individual health benefit plan offered by the carrier.

(II) A triggering event occurs when:

(A) An individual involuntarily loses existing creditable coverage for any reason other than fraud, misrepresentation, or failure to pay a premium;

(B) An individual gains a dependent or becomes a dependent through marriage, civil union, birth, adoption, or placement for adoption or by entering into a designated beneficiary agreement pursuant to article 22 of title 15, C.R.S.;

(C) An individual's enrollment or nonenrollment in a health benefit plan is unintentional, inadvertent, or erroneous and is the result of an error, misrepresentation, or inaction of the carrier, producer, or exchange established pursuant to article 22 of this title;

(D) An individual adequately demonstrates to the commissioner that the health benefit plan in which the individual is enrolled has substantially violated a material provision of its contract in relation to the individual;

(E) The exchange established pursuant to article 22 of this title determines an individual to be newly eligible or newly ineligible for the federal advance payment tax credit or cost-sharing reductions available through the exchange pursuant to federal law;

(F) An individual gains access to other creditable coverage as a result of a permanent change of residence;

(F.5) An uninsured individual was included in the calculation of "family size" as defined in the federal "Internal Revenue Code of 1986", 26 U.S.C. sec. 36B (d)(1), as amended, by a tax filer who filed an income tax return for the prior calendar year by the April 15 tax deadline, and the exchange notifies the individual based on information provided through the Colorado affordable health care coverage easy enrollment program created in section 10-22-113 that the individual qualifies for a subsidized health benefit plan;

(G) Any other event or circumstance occurs as set forth in rules of the commissioner defining triggering events; or

(H) Beginning January 1, 2024, an individual who does not have existing creditable coverage receives certification from a health-care provider acting within the provider's scope of practice that the individual is pregnant. Coverage is deemed effective as of the first month in which the individual receives certification of the pregnancy, unless the individual elects to have coverage effective on the first day of the month following the date that the individual makes a plan selection. Any person or entity enrolling an individual in coverage pursuant to this special enrollment period shall provide a notice, developed by the department through a stakeholder process, to the individual regarding the individual's option to begin coverage either prospectively or retroactively and the financial and tax implications of those options. The notice must be in, at a minimum, English and Spanish.

(III) For the purposes of subsection (3)(a)(II)(F.5) of this section, a carrier is not required to further verify that an individual is eligible for a special enrollment period.

(b) (I) A carrier offering a group health benefit plan in this state shall establish special enrollment periods during which an individual for whom a qualifying event has occurred may enroll in a group health benefit plan offered by the carrier.

(II) A qualifying event occurs when:

(A) An individual loses coverage under a health benefit plan due to the death of a covered employee; the termination or reduction in number of hours of the covered employee's employment; or the covered employee becoming eligible for benefits under Title XVIII of the federal "Social Security Act", as amended;

(B) An individual loses coverage under a health benefit plan due to the divorce or legal separation of the covered employee from the covered employee's spouse or partner in a civil union;

(C) An individual becomes a dependent of a covered person through marriage, civil union, birth, adoption, or placement for adoption, by entering into a designated beneficiary agreement pursuant to article 22 of title 15, C.R.S., or pursuant to a court or administrative order mandating that the individual be covered;

(D) An individual loses other creditable coverage due to the termination of his or her employment or eligibility for the coverage; reduction in number of hours of employment; involuntary termination of coverage; or reduction or elimination of his or her employer's contributions toward the coverage;

(E) An individual loses eligibility under the "Colorado Medical Assistance Act", articles 4 to 6 of title 25.5, C.R.S., or the children's basic health plan, article 8 of title 25.5, C.R.S.; or

(F) Any other event or circumstance occurs as set forth in rules of the commissioner defining qualifying events.

(c) The commissioner shall adopt rules in accordance with federal law for the implementation of this section. The commissioner may adopt rules to allow individuals enrolled in a health benefit plan through an exchange established under article 22 of this title to enroll in or change from one health benefit plan to another under circumstances specified in the rules.
C.R.S. § 10-20-113 — CO Code / Title 10 / Article 20 / Section 10-20-113
10-20-113. Credits for assessments paid - tax offsets
Status: in_force

10-20-113. Credits for assessments paid - tax offsets. (1) (a) A member insurer may offset against its premium tax liability to this state that amount of its class B assessment described in section 10-20-109 that was assessed for the association's life and annuity accounts pursuant to section 10-20-106 to the extent of twenty percent of the amount of such assessment for each of the first, second, third, fourth, and fifth calendar years following the year in which such assessment was paid.

(b) To the extent the offsets specified in paragraph (a) of this subsection (1) exceed the member insurer's premium tax liability, they may be carried forward to offset premium tax liabilities in future years. In the event a member insurer should cease doing business, all uncredited assessments may be credited against its premium tax liability for the year it ceases doing business.

(c) In no event shall the total amount of all such offsets for all member insurers exceed four million dollars in any year. The association shall prorate the amount of such offset among all member insurers if the total amount of offset would otherwise exceed four million dollars in any such year and shall notify each insurer of the maximum amount of offset allowable for that year and the amount of the excess offset, if any, that may be carried forward to future years.

(d) (I) Each member insurer writing health insurance or health maintenance organization policies or contracts may recoup over a reasonable length of time a sum reasonably calculated to recoup the assessments paid by the member insurer under this article 20 by imposing a surcharge on premiums charged for health insurance or health maintenance organization policies or contracts to which this article 20 applies. Amounts recouped are not premiums for any other purpose, including the computation of gross premium tax or an agent's commission.

(II) A member insurer that imposes a surcharge under subsection (1)(d)(I) of this section shall include the amount of the surcharge as part of the member insurer's rate filing pursuant to section 10-16-107 (1). The member insurer must show the surcharge in the rate filing as a separate component of the rate and shall include supporting documentation.

(III) A member insurer that collects surcharges in excess of assessments paid pursuant to this article 20 for an insolvent insurer shall remit the excess to the association as an additional assessment within one hundred twenty days after the end of the collection period as determined by the association. The association shall apply the excess amount to reduce future assessments for that member insurer in the appropriate category.

(IV) (Deleted by amendment, L. 2023.)

(2) Any sums which are acquired by refund pursuant to section 10-20-109 (6) from the association by member insurers, and which have theretofore been offset against premium taxes as provided in subsection (1) of this section, shall be paid by such insurers to this state in such manner as the tax authorities may require. The association shall notify the commissioner that such payments have been made.
C.R.S. § 10-4-1903 — CO Code / Title 10 / Article 4 / Part 19 / Section 10-4-1903
10-4-1903. Definitions
Status: in_force

10-4-1903. Definitions. As used in this part 19, unless the context otherwise requires:

(1) "Aggregator site" means a website that provides access to information regarding insurance products from more than one insurer, including product and insurer information, for use in comparison shopping.

(2) "Blanket travel insurance" means travel insurance that:

(a) Is issued to an eligible group; and

(b) Provides coverage for specific classes of persons defined in the policy with coverage provided to all members of the eligible group without requiring individual members of the eligible group to pay a charge.

(3) "Cancellation fee waiver" means a contractual agreement between a supplier of travel services and its customer to waive some or all of the nonrefundable cancellation fee provisions of the supplier's underlying travel contract with or without regard to the reason for the cancellation or form of reimbursement. A "cancellation fee waiver" is not insurance.

(4) "Eligible group" means, solely for the purposes of travel insurance, a group of two or more persons who are engaged in a common enterprise, or have an economic, educational, or social affinity or relationship, including any of the following:

(a) An entity engaged in the business of providing travel or travel services, including tour operators, lodging providers, vacation property owners, hotels, resorts, travel clubs, travel agencies, property managers, cultural exchange programs, and common carriers, as defined in section 40-1-102 (3), or other operator, owner, or lessor of a means of transportation of passengers, including airlines, cruise lines, railroads, steamship companies, and public bus carriers, in which, with regard to any particular travel or type of travel or travelers, all members or customers of the group must have a common exposure to risks attendant to such travel;

(b) A college, school, or other institution of learning covering students, teachers, employees, or volunteers;

(c) An employer covering any group of employees, volunteers, contractors, board of directors, dependents, or guests;

(d) A sports team, camp, or sponsor of a sports team covering participants, members, campers, employees, officials, supervisors, or volunteers;

(e) A religious, charitable, recreational, educational, or civic organization or branch of the organization covering any group of members, participants, or volunteers;

(f) A financial institution or financial institution vendor, or a parent holding company, trustee, or agent of, or designated by, one or more financial institutions or financial institution vendors, including account holders, credit card holders, debtors, guarantors, or purchasers;

(g) An incorporated or unincorporated association, including a labor union, that has a common interest, constitution, and bylaws and is organized and maintained in good faith for purposes other than obtaining insurance for members or participants of such association covering its members;

(h) Subject to the commissioner's permitting the use of a trust and the state's premium tax provisions in section 10-4-1904, a trust or the trustees of a fund that is established, created, or maintained for the benefit of and covering members, employees, or customers of one or more associations meeting the requirements of subsection (4)(g) of this section;

(i) An entertainment production company covering any group of participants, volunteers, audience members, contestants, or workers;

(j) A volunteer fire department, ambulance, rescue, police, court, or any first aid, civil defense, or other similar volunteer group;

(k) A preschool, day care, or other care institution for children, adults, or senior citizens;

(l) An automobile or truck rental or leasing company covering a group of individuals who may become renters, lessees, or passengers, as defined by their travel status on the rented or leased vehicles; except that the policyholder is the common carrier; the operator, owner, or lessor of a means of transportation; or the automobile or truck rental or leasing company; or

(m) Any other group members that are engaged in a common enterprise or have an economic, educational, or social affinity or relationship and to which issuance of a travel insurance policy would not be contrary to the public interest, as determined by the commissioner.

(5) "Fulfillment materials" means documents sent to the purchaser of a travel protection plan confirming the purchase and providing the travel protection plan's coverage and assistance details.

(6) "Group travel insurance" means travel insurance issued to any eligible group.

(7) "Limited lines travel insurance producer" has the meaning set forth in section 10-2-414.5 (1)(a).

(8) "Offer and disseminate" has the meaning set forth in section 10-2-414.5 (1)(b).

(9) "Primary certificate holder" means a person that elects and purchases travel insurance under a group travel insurance policy.

(10) "Primary policyholder" means an individual who elects and purchases individual travel insurance.

(11) "Travel administrator" means a person who directly or indirectly underwrites; collects charges, collateral, or premiums from; or adjusts or settles claims of Colorado residents in connection with travel insurance. The following persons are not considered travel administrators so long as they function only as follows:

(a) A person working for a travel administrator, to the extent that the person's activities are subject to the supervision and control of the travel administrator;

(b) An insurance producer selling insurance or engaged in administrative and claims-related activities within the scope of the producer's license;

(c) A travel retailer offering and disseminating travel insurance and registered under the license of a limited lines travel insurance producer in accordance with section 10-2-414.5;

(d) An individual adjusting or settling claims in the normal course of the individual's practice or employment as an attorney and who does not collect charges or premiums in connection with insurance coverage; or

(e) A business entity that is affiliated with a licensed insurer while acting as a travel administrator for the direct and assumed insurance business of an affiliated insurer.

(12) (a) "Travel assistance services" means noninsurance services for which the consumer is not indemnified based on a fortuitous event and where the provision of the service does not result in the transfer or shifting of risk that would constitute the business of insurance.

(b) "Travel assistance services" includes security advisories, destination information, vaccination and immunization information services, travel reservation services, entertainment, activity and event planning, translation assistance, emergency messaging, international legal and medical referrals, medical case monitoring, coordination of transportation arrangements, emergency cash transfer assistance, medical prescription replacement assistance, passport and travel document replacement assistance, lost luggage assistance, concierge services, and any other service that is furnished in connection with planned travel.

(c) "Travel assistance services" is not insurance and is not related to insurance.

(13) "Travel insurance" has the meaning set forth in section 10-2-414.5 (1)(c).

(14) "Travel protection plan" means a plan that provides one or more of the following: Travel insurance, travel assistance services, and cancellation fee waivers.

(15) "Travel retailer" has the meaning set forth in section 10-2-414.5 (1)(d).
C.R.S. § 10-3-514.5 — CO Code / Title 10 / Article 3 / Part 5 / Section 10-3-514.5
10-3-514.5. Immunity and indemnification of receiver and employees - applicability
Status: reserved

10-3-514.5. Immunity and indemnification of receiver and employees - applicability. (1) For the purposes of this section, the persons entitled to protection are:

(a) All receivers responsible for the conduct of a delinquency proceeding under this part 5 including present and former receivers; and

(b) Their employees, meaning all present and former special deputies and assistant special deputies appointed by the commissioner and all persons whom the commissioner, special deputies, or assistant special deputies have employed to assist in a delinquency proceeding under this part 5. Attorneys, accountants, auditors, and other professional persons or firms who are retained by the receiver as independent contractors and their employees shall not be considered employees of the receiver for purposes of this section.

(2) The receiver and his employees shall have official immunity and shall be immune from suit and liability, both personally and in their official capacities, for any claim for damage to or loss of property or personal injury or other civil liability caused by or resulting from any alleged act, error, or omission of the receiver or any employee arising out of or by reason of their duties or employment; except that nothing in this subsection (2) shall be construed to hold the receiver or any employee immune from suit and liability for any damage, loss, injury, or liability caused by the intentional or willful and wanton misconduct of the receiver or of any employee.

(3) If any legal action is commenced against the receiver or any employee, whether against him personally or in his official capacity, alleging property damage, property loss, personal injury, or other civil liability caused by or resulting from any alleged act, error, or omission of the receiver or any employee arising out of or by reason of their duties or employment, the receiver and any employee shall be indemnified from the assets of the insurer for all expenses, attorney fees, judgments, settlements, decrees, or amounts due and owing or paid in satisfaction of or incurred in the defense of such legal action unless it is determined upon a final adjudication on the merits that the alleged act, error, or omission of the receiver or employee giving rise to the claim did not arise out of or by reason of his duties or employment, or was caused by intentional or willful and wanton misconduct.

(4) Attorney fees and any and all related expenses incurred in defending a legal action for which immunity or indemnity is available under this section shall be paid from the assets of the insurer, as they are incurred, in advance of the final disposition of such action upon receipt of an undertaking by or on behalf of the receiver or employee to repay the attorney fees and expenses if it shall ultimately be determined upon a final adjudication on the merits that the receiver or employee is not entitled to immunity or indemnity under this section.

(5) Any indemnification for expense payments, judgments, settlements, decrees, attorney fees, surety bond premiums, or other amounts paid from the insurer's assets pursuant to this section shall be an administrative expense of the insurer.

(6) In the event of any actual or threatened litigation against a receiver or any employee for which immunity or indemnity may be available under this section, a reasonable amount of funds which in the judgment of the commissioner may be needed to provide immunity or indemnity shall be segregated and reserved from the assets of the insurer as security for the payment of indemnity until such time as all applicable statutes of limitation have run and all actual or threatened actions against the receiver or any employee have been completely and finally resolved and all obligations of the insurer and the commissioner under this section have been satisfied.

(7) In lieu of segregation and reservation of funds, the commissioner may, in the commissioner's discretion, obtain a surety bond or make other arrangements which will enable the commissioner to fully secure the payment of all obligations under this section.

(8) If any legal action against an employee for which indemnity may be available under this section is settled prior to final adjudication on the merits, the insurer shall pay the settlement amount on behalf of the employee, or indemnify the employee for the settlement amount, unless the commissioner determines:

(a) That the claim did not arise out of or by reason of the employee's duties or employment; or

(b) That the claim was caused by the intentional or willful and wanton misconduct of the employee.

(9) In any legal action in which the receiver is a defendant, that portion of any settlement relating to the alleged act, error, or omission of the receiver shall be subject to the approval of the court before which the delinquency proceeding is pending. The court shall not approve that portion of the settlement if it determines:

(a) That the claim did not arise out of or by reason of the receiver's duties or employment; or

(b) That the claim was caused by the intentional or willful and wanton misconduct of the receiver.

(10) Nothing contained or implied in this section shall operate, or be construed or applied, to deprive the receiver or any employee of any immunity, indemnity, benefits of law, rights, or any defense otherwise available.

(11) (a) Subsection (2) of this section shall apply to any suit based in whole or in part on any alleged act, error, or omission occurring on or after July 1, 1992.

(b) No legal action shall lie against the receiver or any employee based in whole or in part on any alleged act, error, or omission which took place prior to July 1, 1992, unless suit is filed and valid service of process is obtained within twelve months after July 1, 1992.

(c) Subsections (3) to (9) of this section shall apply to any suit which is pending on or filed after July 1, 1992, without regard to when the alleged act, error, or omission took place.
C.R.S. § 10-16-103 — CO Code / Title 10 / Article 16 / Part 1 / Section 10-16-103
10-16-103. Proposal of mandatory health-care coverage provisions
Status: in_force

10-16-103. Proposal of mandatory health-care coverage provisions. (1) Every person or organization which seeks legislative action which would mandate a health coverage or offering of a health coverage by an insurance carrier, nonprofit hospital and health-care service corporation, health maintenance organization, or prepaid dental care plan organization as a component of individual or group policies shall submit a report to the legislative committee of reference addressing both the social and financial impacts of such coverage, including the efficacy of the treatment or service proposed.

(2) Guidelines for assessing the impact of proposed mandated or mandatorily offered health coverage to the extent that information is available shall include, but not be limited to, the following:

(a) The social impact of such mandatory coverage, including, but not limited to, the following:

(I) The extent to which the treatment or service is generally utilized by a significant portion of the population;

(II) The extent to which the insurance coverage is already generally available to the general population;

(III) The extent to which the lack of coverage results in persons avoiding necessary health-care treatments;

(IV) The extent to which the lack of coverage results in unreasonable financial hardship;

(V) The level of public demand for the treatment or service, including the public level of demand for insurance coverage of such treatment or service;

(VI) The level of interest of collective bargaining agents in negotiating privately for inclusion of this coverage in group contracts;

(b) The financial impact of such mandatory coverage, including, but not limited to, the following:

(I) The extent to which the coverage will increase or decrease the cost of the treatment or service;

(II) The extent to which the coverage will increase the appropriate use of the treatment or service;

(III) The extent to which the mandated treatment or service will be a substitute for more expensive treatment or coverage;

(IV) The extent to which the coverage will increase or decrease the administrative expenses of insurance companies and the premium and administrative expenses of policyholders;

(V) The impact of this coverage on the total cost of health care in Colorado.
C.R.S. § 10-11-101 — CO Code / Title 10 / Article 11 / Part 1 / Section 10-11-101
10-11-101. Short title
Status: in_force

10-11-101. Short title. This article shall be known and may be cited as the "Title Insurance Code of Colorado".
C.R.S. § 10-16-1204 — CO Code / Title 10 / Article 16 / Part 12 / Section 10-16-1204
10-16-1204. Health insurance affordability enterprise - creation - powers and duties - asses
Status: in_force

10-16-1204. Health insurance affordability enterprise - creation - powers and duties - assess and allocate health insurance affordability fee and special assessment. (1) (a) There is hereby created in the division the Colorado health insurance affordability enterprise. The enterprise is and operates as a government-owned business within the division for the purpose of assessing and collecting the health insurance affordability fee from carriers that offer health benefit plans in the state and a special assessment on hospitals in the state and using and allocating the fee and assessment for the purposes specified in this part 12 in order to:

(I) Provide the following business services to carriers that pay the fee:

(A) Outreach and related work to increase enrollment in health benefit plans offered by carriers across the state;

(B) Increasing the number of individuals who purchase health benefit plans in the individual market by providing financial support to individuals to purchase private health insurance coverage;

(C) Funding the reinsurance program that offsets the costs carriers would otherwise pay for covering consumers with high medical costs;

(D) Improving the stability of the market throughout the state by providing consistent private health care coverage and reducing the movement of individuals from insured to uninsured status;

(E) Reducing provider cost shifting from the individual market and the uninsured to the group market; and

(F) Creating a healthier risk pool for all carriers by establishing a path for consistent coverage for individuals; and

(II) Provide the following business services to hospitals:

(A) Reducing the amount of uncompensated care provided by hospitals;

(B) Reducing the need of providers to shift costs of providing uncompensated care to other payers; and

(C) Expanding access to high-quality, affordable health care for low-income and uninsured Coloradans.

(b) (I) The enterprise constitutes an enterprise for purposes of section 20 of article X of the state constitution so long as it retains the authority to issue revenue bonds and receives less than ten percent of its total revenues in grants, as defined in section 24-77-102 (7), from all Colorado state and local governments combined. So long as it constitutes an enterprise pursuant to this section, the enterprise is not a district for purposes of section 20 of article X of the state constitution.

(II) The enterprise is hereby authorized to issue revenue bonds for the expenses of the enterprise, secured by revenues of the enterprise.

(2) The enterprise's primary powers and duties are:

(a) To assess and collect the fee specified in section 10-16-1205 (1)(a)(I);

(b) To assess and collect the special assessment on hospitals specified in section 10-16-1205 (1)(a)(II);

(c) To allocate money in the fund in accordance with section 10-16-1205 (2);

(d) To issue revenue bonds payable from the revenues of the enterprise;

(e) (I) To engage the services of third parties serving as contractors and consultants, including the division, for professional and technical assistance and advice and to supply other services related to the conduct of the affairs of the enterprise, without regard to the "Procurement Code", articles 101 to 112 of title 24. The enterprise shall encourage diversity in applications for contracts and shall generally avoid using single-source bids.

(II) The division shall provide office space and administrative staff to the enterprise pursuant to a contract entered into under this subsection (2)(e).

(f) To engage in outreach and related efforts to increase enrollment in health benefit plans across the state; and

(g) To adopt and amend or repeal policies for the regulation of its affairs and the conduct of its business consistent with this part 12.

(3) The enterprise shall exercise its powers and perform its duties as if the same were transferred to the division by a type 2 transfer, as defined in section 24-1-105.
C.R.S. § 10-7-313.5 — CO Code / Title 10 / Article 7 / Part 3 / Section 10-7-313.5
10-7-313.5. Minimum reserves - exceptions
Status: repealed

10-7-313.5. Minimum reserves - exceptions. (Repealed)
C.R.S. § 10-7-404 — CO Code / Title 10 / Article 7 / Part 4 / Section 10-7-404
10-7-404. Authority to issue variable contracts
Status: in_force

10-7-404. Authority to issue variable contracts. (1) No company shall deliver or issue for delivery within this state variable contracts unless it is licensed to do a life insurance or annuity business in this state and the commissioner is satisfied that its condition or method of operation in connection with the issuance of such contracts will not render its operation hazardous to the public or its policyholders in this state. In this connection, the commissioner shall consider among other things:

(a) The history and financial condition of the company;

(b) The character, responsibility, and fitness of the officers and directors of the company; and

(c) The law and regulations under which the company is authorized in the state of domicile to issue variable contracts.

(2) If the company is a subsidiary of an admitted life insurance company or affiliated with such company through common management or ownership, it may be deemed by the commissioner to have complied with the provisions of this section if either it or the parent or the affiliated company meets the requirements of this section.
C.R.S. § 10-3-555 — CO Code / Title 10 / Article 3 / Part 5 / Section 10-3-555
10-3-555. Claims of residents against insurers domiciled in reciprocal states
Status: in_force

10-3-555. Claims of residents against insurers domiciled in reciprocal states. (1) Promptly after the appointment of the commissioner as ancillary receiver for an insurer not domiciled in this state, the commissioner shall determine whether there are claimants residing in this state who are not protected by guaranty funds and, if so, whether the protection of such claimants requires the establishing of a claim filing procedure in the ancillary proceeding. If a claim filing procedure is established, claimants against the insurer who reside within this state may file claims either with the ancillary receiver, if any, in this state, or with the domiciliary liquidator. Such claims shall be filed on or before the last dates fixed for the filing of claims in the domiciliary liquidation proceeding.

(2) Claims belonging to claimants residing in this state may be proved either in the domiciliary state under the law of that state, or in ancillary proceedings, if any, in this state if a claim filing procedure is established in such ancillary proceeding. If a claimant elects to prove such a claim in this state, the claimant shall file the claim with the liquidator in the manner provided in sections 10-3-534 and 10-3-535. The ancillary receiver shall make a recommendation to the court as under section 10-3-542 and shall also arrange a date for hearing if necessary under section 10-3-538 and shall give notice to the liquidator in the domiciliary state, either by certified mail or by personal service, at least forty days prior to the date set for hearing. If the domiciliary liquidator, within thirty days after the giving of such notice, gives notice in writing to the ancillary receiver and to the claimant, either by certified mail or by personal service, of the domiciliary liquidator's intention to contest the claim, the domiciliary liquidator shall be entitled to appear or to be represented in any proceeding in this state involving the adjudication of the claim.

(3) The final allowance of the claim by the courts of this state shall be accepted as conclusive as to amount and as to priority against special deposits or other security located in this state.
C.R.S. § 10-7-306 — CO Code / Title 10 / Article 7 / Part 3 / Section 10-7-306
10-7-306. Calculation of values - supplemental rules
Status: in_force

10-7-306. Calculation of values - supplemental rules. (1) Any cash surrender value and any paid-up nonforfeiture benefit, available under the policy in the event of default in a premium payment due at any time other than on the policy anniversary, shall be calculated with allowance for the lapse of time and the payment of fractional premiums beyond the last preceding policy anniversary. All values referred to in sections 10-7-303 to 10-7-305.1 may be calculated upon the assumption that any death benefit is payable at the end of the policy year of death. The net value of any paid-up additions, other than paid-up term additions, shall not be less than the amounts used to provide such additions.

(2) Notwithstanding the provisions of section 10-7-303, additional benefits shall be disregarded in ascertaining cash surrender values and nonforfeiture benefits required by this part 3, and no such additional benefits shall be required to be included in any paid-up nonforfeiture benefits in the following events or circumstances:

(a) In the event of death or dismemberment by accident or accidental means;

(b) In the event of total and permanent disability;

(c) As reversionary annuity or deferred reversionary annuity benefits;

(d) As term insurance benefits provided by a rider or supplemental policy provision to which, if issued as a separate policy, this part 3 would not apply;

(e) As term insurance on the life of a child or on the lives of children provided in a policy on the life of a parent of the child, if such term insurance expires before the child's age is twenty-six, is uniform in amount after the child's age is one, and has not become paid up by reason of the death of a parent of the child;

(f) As other policy benefits additional to life insurance and endowment benefits, and premiums for all such additional benefits.
C.R.S. § 10-3-1202 — CO Code / Title 10 / Article 3 / Part 12 / Section 10-3-1202
10-3-1202. Definitions
Status: in_force

10-3-1202. Definitions. As used in this part 12, unless the context otherwise requires:

(1) "Clearing corporation" has the meaning ascribed to it in section 4-8-102 (a)(5), C.R.S.; except that, with respect to a security issued by an institution organized or existing under the laws of any foreign country or a security used to meet the deposit requirements pursuant to the laws of a foreign country as a condition of doing business therein, "clearing corporation" includes a corporation which is organized or existing under the laws of any foreign country and which is legally qualified under such laws to effect transactions in securities by computerized book-entry.

(2) "Direct participant" means a bank or trust company or other institution which maintains an account in its name in a clearing corporation and through which an insurance company participates in a clearing corporation.

(3) "Federal reserve book-entry system" means the computerized system sponsored by the United States department of the treasury and certain agencies and instrumentalities of the United States for holding and transferring securities of the United States government and such agencies and instrumentalities, respectively, in federal reserve banks through banks which are members of the federal reserve system or which otherwise have access to such computerized system.

(4) "Member bank" means a national bank, state bank, or trust company which is a member of the federal reserve system and through which an insurance company participates in the federal reserve book-entry system.

(5) "Security" has any of the meanings specified in section 4-8-102 (a)(15), C.R.S.
C.R.S. § 10-11-105 — CO Code / Title 10 / Article 11 / Part 1 / Section 10-11-105
10-11-105. Financial requirements prior to this article
Status: in_force

10-11-105. Financial requirements prior to this article. (1) Every domestic title insurance company which on July 1, 1969, has the capital required by law and whose reserve fund required by law has been approved by the state bank commissioner shall have until July 1 in the tenth year after July 1, 1969, to comply with the financial requirements of this article, but the capital and reserve fund of each such title insurance company shall at no time be less than that required by law immediately prior to July 1, 1969.

(2) The reserve fund required by law immediately prior to July 1, 1969, for each domestic title insurance company engaged in the business of title insurance shall be supervised by the commissioner on and after July 1, 1969. As soon as practicable, the state bank commissioner shall furnish to the commissioner a list of all such title insurance companies and an inventory of securities and deposits approved by said bank commissioner for the reserve fund of each such company, and shall deliver to the commissioner all such securities and deposits then on deposit with the state bank commissioner and all safe deposit box keys, deposit receipts, certificates of deposit, and other evidences or means of control thereof to the commissioner. Every bank, savings and loan association, or other escrow or depository agent is authorized to accept the substitution of the commissioner for the state bank commissioner on any certificate of deposit or deposit receipt or any authority to enter a safe deposit box with reference to any reserve fund of a title insurance company. Every such bank, savings and loan association, or other escrow or depository agent and the state bank commissioner shall be held harmless from any liability as a result of such substitution and shall take such action as may be necessary or advisable to effect such substitution.
C.R.S. § 10-16-303 — CO Code / Title 10 / Article 16 / Part 3 / Section 10-16-303
10-16-303. Filing of articles of incorporation
Status: in_force

10-16-303. Filing of articles of incorporation. (1) Whenever any number of persons associate to form a corporation for any of the purposes named in section 10-16-302, they shall submit articles of incorporation which shall be issued in triplicate to the commissioner and the attorney general for examination. After being approved by such officers, the articles shall be filed and recorded in the office of the secretary of state who shall issue a certificate of incorporation. A copy of such articles, certified by the secretary of state, shall be filed with the commissioner.

(2) When not less than the amount required by section 10-16-310 is deposited with the commissioner, as provided for in this part 3, the commissioner shall cause an examination to be made either by the commissioner or some disinterested person, especially appointed by the commissioner for the purpose, who shall certify that the provisions of part 1 of this article and this part 3 have been complied with by said corporation, as far as applicable thereto. Such certificate shall be filed in the office of the commissioner, who shall thereupon deliver to such corporation a certified copy thereof, which, together with a copy of the articles of incorporation, shall be filed in the office of the clerk and recorder of the county wherein the principal office of the company is to be located, before the authority to commence business is granted.

(3) Whenever any such corporation thereafter desires to amend its articles of incorporation, it shall file its certificate of amendment with the commissioner before filing the same with the secretary of state, and if the commissioner, with the advice of the attorney general, finds the same to have been legally adopted and to be in due legal form and not in conflict with the provisions of law governing such corporations, then, and not otherwise, such certificate of amendment shall be filed with the secretary of state.

(4) Any corporation organized under the laws of this state relating to corporations not for profit prior to July 1, 1967, for the purposes named in section 10-16-302, shall within one year after July 1, 1967, comply with all of the provisions of this section and shall thereupon become subject to and be governed by said provisions.
C.R.S. § 10-16-505 — CO Code / Title 10 / Article 16 / Part 5 / Section 10-16-505
10-16-505. Guarantee fund deposit
Status: in_force

10-16-505. Guarantee fund deposit. (1) A prepaid dental care plan organization subject to the provisions of part 1 of this article and this part 5 shall place on deposit with the commissioner a guarantee fund of cash, approved securities, or letter of credit approved by the commissioner in the amount of two dollars per enrollee for all enrollees entitled to dental care services pursuant to contracts issued by the prepaid dental care plan or ten thousand dollars, whichever is greater.

(2) The cash or securities representing the guarantee fund required by this section shall be deposited with the commissioner under joint control in the same manner as prescribed in sections 10-3-206, 10-3-210, and 10-3-211.

(3) An unpaid final judgment arising upon an enrollee coverage shall be a lien on the deposit prescribed by subsection (1) of this section, subject to execution after thirty days from the entry of final judgment. If the deposit is reduced, it shall be replenished within ninety days by the prepaid dental care plan organization.

(4) Upon liquidation or dissolution of a prepaid dental care plan organization formed under part 1 of this article and this part 5 and the satisfaction of all its debts and liabilities, any balance remaining of the deposit prescribed in subsection (1) of this section together with any other assets of the prepaid dental care plan organization shall be returned by the commissioner to the prepaid dental care plan organization.

(5) The deposit prescribed by subsection (1) of this section shall not apply with respect to a prepaid dental care plan organization which is funded by a federal, state, or municipal government or by any political subdivision thereof to the extent and for such period of time that the prepaid dental care plan organization can demonstrate to the commissioner the presence of operational commitments from such sources equivalent to such deposit.
C.R.S. § 10-11-109 — CO Code / Title 10 / Article 11 / Part 1 / Section 10-11-109
10-11-109. Unearned premium reserve
Status: in_force

10-11-109. Unearned premium reserve. (1) In lieu of those reserves required for other insurance companies, every domestic title insurance company, and every foreign or alien title insurance company which under the state of domicile is not required to maintain a substantially equivalent unearned premium reserve, shall, in addition to other reserves, establish and maintain a reserve to be known as the "unearned premium reserve" for title insurance, which shall, at all times and for all purposes, constitute the unearned portions of premiums due or received and shall be charged as a reserve liability of such title insurance company in determining its financial condition.

(2) The unearned premium reserve shall be retained and held by such title insurance company for the protection of the policyholders' interest in policies which have not expired. Except upon liquidation, dissolution, or insolvency, assets equal to the amount of such reserve shall not be subject to distribution among depositors or other creditors or stockholders of such title insurance company until all claims of policyholders or holders of other title insurance contracts or agreements of such title insurance company have been paid in full and all liability on the policies or other title insurance contracts or agreements, whether contingent or actual, has been discharged or lawfully reinsured. Income from the investment of the amount of such reserve shall be the unrestricted property of the title insurance company.
C.R.S. § 10-2-201 — CO Code / Title 10 / Article 2 / Part 2 / Section 10-2-201
10-2-201. Prelicensure education - when required
Status: in_force

10-2-201. Prelicensure education - when required. (1) (a) Except as otherwise provided in section 10-2-202, in addition to other requirements for licensure as specified under this article and as a condition of initial licensure, an individual applicant for qualification in life, sickness and accident, or property and casualty lines shall be required to provide evidence to the commissioner that the individual applicant has satisfactorily completed an approved prelicensure education or training course or program as follows:

(I) An individual seeking insurance producer licensure authority for life insurance shall complete at least fifty hours of an approved course or program for certification in life insurance; and, of the said fifty hours, at least three hours shall pertain specifically to insurance industry ethics;

(II) An individual seeking insurance producer licensure authority for health coverage shall complete at least fifty hours of an approved course or program for certification in sickness and accident insurance; and, of the said fifty hours, at least three hours shall pertain specifically to insurance industry ethics;

(III) An individual seeking insurance producer licensure authority for property or casualty insurance or both shall complete at least fifty hours of an approved course or program for certification in property or casualty insurance or both; and, of the said fifty hours, at least three hours shall pertain specifically to insurance industry ethics.

(b) An individual seeking an insurance producer license to include life, sickness and accident, property, or casualty lines or any combination thereof shall not be eligible to take the written examination provided for in section 10-2-402 until the prelicensure education requirements specified in this subsection (1) pertaining to the line or lines of insurance applied for have been satisfied.

(2) The commissioner shall adopt all rules necessary to carry out the prelicensing education provisions of this section. Such rules shall set forth standards for courses and programs to qualify for approval by the commissioner and shall also prescribe a system of control and reporting.

(3) An individual seeking an insurance producer license shall pay to the commissioner, in addition to any other applicable fees or charges, a fee established by the commissioner in accordance with section 10-2-413 for operation of the prelicensing education program.
C.R.S. § 10-1-114 — CO Code / Title 10 / Article 1 / Part 1 / Section 10-1-114
10-1-114. Sale of premium notes prohibited
Status: in_force

10-1-114. Sale of premium notes prohibited. It is unlawful for any insurance company or any agent thereof who has accepted a premium note in payment for a policy of insurance to hypothecate, sell, assign, dispose of, or attempt to collect said note prior to the delivery of said insurance policy to the applicant.