reglab/housing_qa huggingface dataset:
CO Code § 10-3-1701 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1701. Definitions

 As used in this part 17, unless the context otherwise requires:    “Asset” means property, whether real, personal, mixed, tangible, or intangible, and any right or interest in the property, including all rights under a contract or other agreement.    “Capital” means the capital stock component of a statutory surplus, as defined in the National Association of Insurance Commissioners' Accounting Practices and Procedures Manual, version effective January 1, 2001, as revised.      “Contract holder” means the owner of an annuity contract.    “Contract holder” does not mean a certificate holder of a group annuity contract or any other covered person thereunder.       “Divide” or “division” means the act by operation of law by which a domestic stock insurer splits into two or more resulting domestic stock insurers in accordance with a plan of division and this part 17.    “Dividing insurer” means a domestic stock insurer that approves a plan of division.    “Domestic stock insurer” means an insurance company that has capital stock and is incorporated under the laws of this state.    “Liability” means any liability or obligation arising in any manner.    “Plan of division” means a plan of division that is approved by a dividing insurer pursuant to section 10-3-1707.      “Policyholder” means the owner of an insurance policy.    “Policyholder” does not mean a certificate holder of a group insurance policy or any other covered person thereunder.       “Resulting insurer” means a dividing domestic stock insurer that survives a division or a new domestic stock insurer that is created by a division.    “Shareholder” means:   A person in whose name shares are registered in the records of a corporation; or    The beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation.       “Surplus” means the total statutory surplus minus capital, calculated in accordance with the National Association of Insurance Commissioners' accounting practices and procedures manual, version effective January 1, 2001, as revised.    “Transfer” means an assignment; assumption; conveyance; sale; lease; encumbrance, including a mortgage or security interest; gift; or transfer by operation of law.     History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 843, § 1, effective September 7.
CO Code § 10-3-1702 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1702. Plan of Division - General Requirements

  A domestic stock insurer may, in accordance with this part 17, divide into two or more resulting insurers pursuant to a plan of division. A domestic stock insurer's plan of division must include:   The name of the domestic stock insurer seeking to divide;    The name of each resulting insurer created by the proposed division and, for each resulting insurer, a copy of the resulting insurer's:   Proposed articles of incorporation; and    Proposed bylaws;       The manner of allocating assets and liabilities, including policy liabilities, between or among all resulting insurers;    The manner of distributing shares in the resulting insurers to the dividing insurer or the dividing insurer's shareholders;    A reasonable description of all liabilities and all assets that the dividing insurer proposes to allocate to each resulting insurer, including the manner by which the dividing insurer proposes to allocate all reinsurance contracts;    All terms and conditions required by the laws of this state and the articles of incorporation and bylaws of the dividing insurer; and    All other terms and conditions required by the division.        History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 844, § 1, effective September 7.
CO Code § 10-3-1703 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1703. Plan of Division - Dividing Insurer to Survive Division

  If a dividing insurer will survive a division, the plan of division must include, in addition to the requirements described in section 10-3-1702:   All proposed amendments to the dividing insurer's articles of incorporation and bylaws;    If the dividing insurer intends to cancel some but not all shares in the dividing insurer, the manner in which the dividing insurer intends to cancel the shares; and    If the dividing insurer intends to convert some but not all shares in the dividing insurer into shares, securities, obligations, rights to acquire shares or securities, cash, property, or any combination thereof, a statement disclosing the manner in which the dividing insurer intends to convert the shares.        History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 845, § 1, effective September 7.
CO Code § 10-3-1704 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1704. Plan of Division - Dividing Insurer to Not Survive Division

 If a dividing insurer will not survive a division, the plan of division must include, in addition to the requirements described in section 10-3-1702 , the manner in which the dividing insurer will cancel or convert shares in the dividing insurer into shares, securities, obligations, rights to acquire shares or securities, cash, property, or any combination thereof.   History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 845, § 1, effective September 7.
CO Code § 10-3-1705 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1705. Amending Plan of Division

  A dividing insurer may amend the dividing insurer's plan of division in accordance with any procedures set forth in the plan of division or, if procedures are not set forth in the plan of division, in a manner determined by the board of directors of the dividing insurer. A shareholder that is entitled to vote on or consent to approval of the plan of division is entitled to vote on or consent to an amendment of the plan of division that will affect:   The amount or kind of shares, securities, obligations, rights to acquire shares or securities, cash, property, or any combination thereof to be received by any of the shareholders of the dividing insurer under the plan of division;    The articles of incorporation or bylaws of any resulting insurer that become effective when the division becomes effective, except for changes that do not require approval of the shareholders of the resulting insurer under its articles of incorporation or bylaws; or    Any other terms or conditions of the plan of division that effect a change that may adversely affect the shareholders in any material respect.        History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 845, § 1, effective September 7.
CO Code § 10-3-1706 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1706. Abandoning Plan of Division

  A dividing insurer may abandon its plan of division only as follows:   After the dividing insurer has approved the plan of division without any action by the shareholders and in accordance with any procedures set forth in the plan of division, or if procedures are not set forth in the plan of division, in a manner determined by the board of directors of the dividing insurer; or    After the dividing insurer has filed a certificate of division with the commissioner pursuant to section 10-3-1710, the dividing insurer may file a signed certificate of abandonment with the commissioner. The certificate of abandonment is effective on the date it is filed with the commissioner.       A dividing insurer shall not abandon its plan of division after the plan of division becomes effective.    If a dividing insurer elects to abandon its plan of division after the plan has been filed with the commissioner but before it becomes effective, the dividing insurer shall notify the commissioner.     History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 846, § 1, effective September 7.
CO Code § 10-3-1707 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1707. Approval of Plan of Division - Articles of Incorporation and Bylaws

  A dividing insurer shall not file a plan of division with the commissioner until the plan of division has been approved in accordance with all provisions of the dividing insurer's articles of incorporation and bylaws. If the dividing insurer's articles of incorporation and bylaws do not provide for approval of a plan of division, the dividing insurer shall not file the plan of division with the commissioner unless the plan of division has been approved in accordance with all provisions of the dividing insurer's articles of incorporation and bylaws that provide for approval of a merger.    If a provision of a dividing insurer's articles of incorporation or bylaws adopted before September 7, 2021, requires that a specific number or percentage of the board of directors or shareholders propose or adopt a plan of merger or impose other procedures for the proposal or adoption of a plan of merger, the dividing insurer shall adhere to the provision in proposing or adopting a plan of division. If any such provision of the articles of incorporation or bylaws is amended on or after September 7, 2021, the provision applies to a division after September 7, 2021, only in accordance with its express terms.     History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 846, § 1, effective September 7.
CO Code § 10-3-1709 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1709. Confidentiality - Records

  All information, documents, materials, and copies of documents and materials submitted to, obtained by, or disclosed to the commissioner in connection with a plan of division or in contemplation of a plan of division, including any information, documents, materials, or copies provided by or on behalf of a domestic stock insurer in advance of its adoption or submission of a plan of division, are confidential and subject to the same protection and treatment described in section 10-3-808 for information and documents disclosed to or obtained by the commissioner in the course of an examination or investigation made under section 10-3-806, until the time that a notice of the hearing required by section 10-3-1708 is issued.    After the issuance of a notice of the hearing required by section 10-3-1708, all business, financial, actuarial, and other proprietary information for which the domestic stock insurer requests confidential treatment, other than the plan of division and any materials incorporated by reference into or otherwise made a part of the plan of division that must not be eligible for confidential treatment after the issuance of a notice of the hearing, continues to be confidential, is not available for public inspection, and is subject to the same protection and treatment as described in section 10-3-808 for information and documents disclosed to or obtained by the commissioner in the course of an examination or investigation made under section 10-3-806. However, if the commissioner determines that the public's interest in making the information available for public inspection outweighs the interest of the dividing insurer in keeping the information confidential, the commissioner may, after notice and an opportunity to be heard, make the information available for public inspection in accordance with the “Colorado Open Records Act”, part 2 of article 72 of title 24.     History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 850, § 1, effective September 7.
CO Code § 10-3-1710 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1710. Certificate of Division

  If the commissioner approves a dividing insurer's plan of division pursuant to section 10-3-1708, an officer or duly authorized representative of the dividing insurer shall sign a certificate of division that sets forth all of the following:   The name of the dividing insurer;    A statement disclosing whether the dividing insurer survived the division. If the dividing insurer survived the division, the certificate of division must include any amendments to the dividing insurer's articles of incorporation or bylaws approved as part of the plan of division.    The name of each resulting insurer that is created by the division;    The date on which the division is effective;    A statement that the division was approved by the commissioner pursuant to section 10-3-1708;    A statement that the dividing insurer provided reasonable notice to each reinsurer that is a party to a reinsurance contract allocated in the plan of division, if any;    The articles of incorporation and bylaws for each resulting insurer created by the division. The articles of incorporation and bylaws of each resulting insurer must comply with the applicable requirements of the laws of this state. The articles of incorporation and bylaws may state the name or address of an incorporator, may be signed, and may include any provision that is not required in a restatement of the articles of incorporation or bylaws.    A reasonable description of the capital, surplus, or other assets and liabilities, including policy liabilities, of the dividing insurer that are to be allocated to each resulting insurer.       A dividing insurer's certificate of division is effective on the date the dividing insurer files the certificate with the commissioner. A division is effective on the date specified in the certificate of division filed in accordance with this section.     History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 851, § 1, effective September 7.
CO Code § 10-3-1713 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1713. Shareholder Appraisal Rights

 If a dividing insurer does not survive a division, a shareholder of the dividing insurer is entitled to appraisal rights and to obtain payment of the fair value of the shareholder's shares in the same manner and to the extent provided for a corporation as a party to a merger pursuant to section 7-113-102 .   History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 855, § 1, effective September 7.
CO Code § 10-3-1714 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1714. Rules

 The commissioner may adopt rules to administer this part 17.   History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 855, § 1, effective September 7.
CO Code § 10-3-1715 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1715. Enforcement by Commissioner

 The commissioner may take any action within the commissioner's authority to enforce compliance with this part 17.   History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 855, § 1, effective September 7.
CO Code § 10-3-1716 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 17 - Domestic Stock Insurer Division|§ 10-3-1716. Merger or Consolidation Effective With Division

  To facilitate the merger or consolidation of any resulting insurer with and into another company simultaneously with the effectiveness of a division authorized by this part 17, a dividing insurer, including its officers, directors, and shareholders, may:   Adopt and execute a plan of merger or consolidation on behalf of a resulting insurer;    Execute and deliver documents, plans, certificates, and resolutions; and    Make any filings, in each case, on behalf of the resulting insurer.       If so provided in a plan of merger or consolidation described in this section, the merger or consolidation is effective simultaneously with the effectiveness of a division authorized by this part 17.    On request of the dividing insurer, the commissioner may waive the other requirements of this section with respect to any merger or consolidation involving only domestic stock insurers and may issue the commissioner's final approval of the merger or consolidation as part of the commissioner's approval of a plan of division under this part 17.     History. Source: L. 2021: Entire part added,(HB 21-1013), ch. 144, p. 855, § 1, effective September 7.
CO Code § 10-4-101 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 4 - Property and Casualty Insurance|Part 1 - General|§ 10-4-101. Legislative Declaration

 The general assembly declares that the health, welfare, and safety of the people of the state of Colorado would be enhanced by the expeditious handling of liability claims. The general assembly further declares that the handling of such claims would be expedited if voluntary payment by one person, or on his behalf to an injured person, could not be construed as an admission of fault or liability as to any claim arising out of the same occurrence.   History. Source: L. 67: P. 972, § 1. C.R.S. 1963: § 72-1-58. History. Source: L. 67: P. 972, § 1. C.R.S. 1963: § 72-1-58.
CO Code § 10-4-102 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 4 - Property and Casualty Insurance|Part 1 - General|§ 10-4-102. Federal “Voluntary Fair Access to Insurance Required, Property Insurance Program” - State Qualification

 In order that this state may share in the provisions of 12 U.S.C. sec. 1749bbb, which makes available to states that qualify with its provisions a federal program of reinsurance against abnormally high property insurance losses resulting from riots and other civic commotions, the commissioner is authorized to adopt necessary regulations to qualify this state with the provisions of said federal law, but any regulations so authorized by this section shall otherwise comply with the laws of this state and be subject thereto, and such plan shall be in all respects voluntary.   History. Source: L. 69: P. 512, § 1. C.R.S. 1963: § 72-1-61. History. Source: L. 69: P. 512, § 1. C.R.S. 1963: § 72-1-61.
CO Code § 10-4-103 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 4 - Property and Casualty Insurance|Part 1 - General|§ 10-4-103. Voluntary Partial Payment of Liability Claims Without Admission of Liability

 No voluntary partial payment of a claim against any person based on alleged liability of that person for injury or property damage arising out of any occurrence shall be construed as an admission of fault or liability, or as a waiver or release of claim, by the person receiving such payment. Such payment, moreover, shall not be admissible in any action, as evidence, for the purpose of determining the amount of any judgment with respect to the same parties as to such occurrence. Upon settlement of the claim, the parties may make any agreement they so desire in respect to all such voluntary partial payments. After entry of judgment, any such payment shall be treated as a credit against the judgment and is deductible from the amount of the judgment. If, after partial voluntary payments are made as provided for in this section, it is determined by final judgment of a court of competent jurisdiction that the payer is liable for an amount less than the voluntary payments already made, the payer shall have no right of action for the recovery of amounts by which the voluntary payments exceed the final judgment. No voluntary partial payments shall be construed to reduce the amount of damages which may be pleaded and proved in a court proceeding between the parties.   History. Source: L. 67: P. 972, § 2. C.R.S. 1963: § 72-1-59. History. Source: L. 67: P. 972, § 2. C.R.S. 1963: § 72-1-59.    ANNOTATION   Law reviews. For article, “Recovery of Interest: Part I -- Personal Injury”, see 18 Colo. Law. 1063 (1989).
CO Code § 10-4-104 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 4 - Property and Casualty Insurance|Part 1 - General|§ 10-4-104. Competency of Minor to Contract for Insurance - Nonavoidance

 Any minor sixteen years of age or older may, notwithstanding his or her minority, contract for insurance, including motor vehicle insurance, upon his or her own property or liabilities. The minor is hereby determined to be competent to exercise all rights and powers with respect to or under any such contract as might be exercised by a person of full legal age and may at any time surrender the minor's interest in the contract and give valid discharge for any benefits accruing or money payable thereunder. Having entered into a contract for insurance, the minor is not entitled to rescind, avoid, or repudiate the contract nor to rescind, avoid, or repudiate any exercise of a right or privilege under the contract by reason of minority.   History. Source: L. 63: P. 573, § 1. C.R.S. 1963: § 72-1-54. L. 2019: Entire section amended,(HB 19-1023), ch. 239, p. 2361, § 1, effective August 2. History. Source: L. 63: P. 573, § 1. C.R.S. 1963: § 72-1-54. L. 2019: Entire section amended,(HB 19-1023), ch. 239, p. 2361, § 1, effective August 2.    Cross references:   For competency of persons to enter into any legal contractual obligation, see § 13-22-101 .
CO Code § 10-4-105 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 4 - Property and Casualty Insurance|Part 1 - General|§ 10-4-105. Valuation of Bonds and Policies Other Than Life

 For the purpose of establishing the liability of companies doing a surety business and of insurance companies other than life, the amount required to safely reinsure all outstanding risks shall be estimated by taking fifty percent of the gross annual premiums on all surety bonds, risks, and policies in force that have less than one year to run, and pro rata of all gross premiums on risks that have more than one year to run.   History. Source: L. 13: P. 350, § 42. C.L. § 2515. CSA: C. 87, § 56. CRS 53: § 72-3-2. C.R.S. 1963: § 72-3-2. History. Source: L. 13: P. 350, § 42. C.L. § 2515. CSA: C. 87, § 56. CRS 53: § 72-3-2. C.R.S. 1963: § 72-3-2.
CO Code § 10-4-106 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 4 - Property and Casualty Insurance|Part 1 - General|§ 10-4-106. Assigned Risks

  The commissioner may, after consultation with the insurers licensed to write mortgage guaranty insurance in this state, establish or approve a reasonable plan, and rules governing the same, for the equitable apportionment among such insurers of applicants for such insurance who are in good faith entitled to but are unable to procure insurance through ordinary methods, and, when such plan has been approved, all such insurers may subscribe thereto and participate therein. Any applicant for such insurance, any person insured under such plan, and any insurer affected may appeal to the commissioner from any ruling or decision of the manager or committee designated to operate such plan.    Insurance provided under this section shall be provided only for the purposes listed in article 49 of title 7, C.R.S., and may be made in cooperation with the corporation established in said article.     History. Source: L. 75: Entire section added, p. 270, § 2, effective June 29.