reglab/housing_qa huggingface dataset:
CO Code § 10-6-114 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-114. Reports and Statements

  Every captive insurance company doing business in this state shall render to the commissioner a report, signed and sworn to by its chief officers, of its condition as of the end of each fiscal year, which shall be in a form prescribed by the commissioner and contain such information as the commissioner deems necessary. Such report shall be filed within sixty days following the company's fiscal year end. The fiscal year shall be the calendar year for all group captive insurance companies. The commissioner may require that the annual report include the information set forth in the then-current convention blank of the national association of insurance commissioners, including any instructions, procedures, and guidelines consistent with this article.    The commissioner may prescribe the format and frequency of other reports to be filed, which may include, but shall not be limited to, summary loss reports, quarterly financial statements, audited annual financial statements, and other professional reports.    (Deleted by amendment,L. 94, p. 545, § 8, effective April 6, 1994.)     History. Source: L. 72: P. 433, § 1. C.R.S. 1963: § 72-36-14. L. 89: Entire section amended, p. 464, § 8, effective April 15. L. 94: Entire section amended, p. 545, § 8, effective April 6. History. Source: L. 72: P. 433, § 1. C.R.S. 1963: § 72-36-14. L. 89: Entire section amended, p. 464, § 8, effective April 15. L. 94: Entire section amended, p. 545, § 8, effective April 6.
CO Code § 10-6-115 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-115. Grounds and Procedure for Suspension or Revocation of Certificate - Review by Commissioner

  The certificate of authority of a captive insurance company to do business in this state may be revoked or suspended by the commissioner for any violation of this article, including without limitation the following:   Insolvency or impairment;    Failure to meet the requirements of section 10-6-116;    Refusal or failure to submit an annual report, as required by section 10-6-114, or any other report required by law or by lawful order of the commissioner;    Failure to comply with the provisions of its own charter, other organizational documents, bylaws, or approved plan of operation, if such failure renders its operation hazardous to the public or to its policyholders;    Failure to submit to examination;    Refusal or failure to pay the cost of examination, required premium taxes, or other penalty or fee assessed as authorized by law;    Use of methods which, although not otherwise specifically proscribed by law, render its operation hazardous or its condition unsound;    Refusal or failure otherwise to comply with this article or any other laws of this state.       If the commissioner finds upon examination, hearing, or other evidence that any captive insurance company has committed any of the acts specified in subsection (1) of this section, the commissioner may, after notice and hearing in accordance with article 4 of title 24, C.R.S., suspend or revoke such certificate of authority. The commissioner may issue an order appointing a supervisor to monitor the operations of the company if the commissioner deems it in the best interest of the public or of the policyholders of the company. The commissioner may commence a delinquency action pursuant to part 4 of article 3 of this title or a liquidation or rehabilitation action pursuant to part 5 of article 3 of this title.    Any final decision of the commissioner on any matter pursuant to this section shall be subject to judicial review by the court of appeals pursuant to section 24-4-106 (11), C.R.S.     History. Source: L. 72: P. 433, § 1. C.R.S. 1963: § 72-36-15. L. 89: (1)(d) amended, p. 465, § 9, effective April 15. L. 92: (2) amended, p. 1562, § 70, effective May 20. L. 94: Entire section amended, p. 546, § 9, effective April 6. History. Source: L. 72: P. 433, § 1. C.R.S. 1963: § 72-36-15. L. 89: (1)(d) amended, p. 465, § 9, effective April 15. L. 92: (2) amended, p. 1562, § 70, effective May 20. L. 94: Entire section amended, p. 546, § 9, effective April 6.
CO Code § 10-6-116 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-116. Capital and Surplus Requirements

  No captive insurance company issued a certificate of authority shall be permitted to do any business in this state unless it maintains total capital and surplus of not less than five hundred thousand dollars. (1.5) Upon a written finding by the commissioner that the approved plan of operation or the operational results of the captive insurance company require either additional capital or a larger surplus than required by this section, the commissioner may require that additional capital or surplus, or both, be obtained. Additional capital or surplus may be tendered in the form of an irrevocable letter of credit as set forth in subsection (2) of this section.    Securities acceptable to the commissioner in the amount of three hundred thousand dollars, or such greater amount as determined by the commissioner, shall be held by the commissioner or under the joint control of the commissioner and the captive insurance company. The commissioner shall accept an irrevocable letter of credit, in a form acceptable to the commissioner, issued or confirmed by a qualified United States financial institution as defined in section 10-1-102 (17) on behalf of a captive insurance company in lieu of securities. All securities or letters of credit jointly held shall be the sole property of such captive insurance company and shall be free and clear of any claim or encumbrance.    Jointly held securities or letters of credit, wherever located, shall be deemed to be held for the benefit of all captive insurance company policyholders.    The commissioner shall release funds held under joint control upon a showing satisfactory to the commissioner that all debts, obligations, and liabilities of the captive insurance company have been paid and discharged, or adequate provisions for payment and discharge have been made therefor, and the captive insurance company's original certificate of authority has been returned to the commissioner.     History. Source: L. 72: P. 434, § 1. C.R.S. 1963: § 72-36-16. L. 87: (1) amended, p. 437, § 5, effective May 22. L. 89: (2) amended, p. 465, § 10, effective April 15. L. 92: (2) amended, p. 1562, § 71, effective May 20. L. 94: Entire section amended, p. 547, § 10, effective April 6. L. 2003: (2) amended, p. 617, § 15, effective July 1. History. Source: L. 72: P. 434, § 1. C.R.S. 1963: § 72-36-16. L. 87: (1) amended, p. 437, § 5, effective May 22. L. 89: (2) amended, p. 465, § 10, effective April 15. L. 92: (2) amended, p. 1562, § 71, effective May 20. L. 94: Entire section amended, p. 547, § 10, effective April 6. L. 2003: (2) amended, p. 617, § 15, effective July 1.    ANNOTATION   Law reviews. For article, “The Pros and Cons of a Captive Legal Malpractice Insurer”, see 16 Colo. Law. 244 (1986).
CO Code § 10-6-120 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-120. Examinations and Investigations

  The commissioner or any person so authorized has the authority to examine the financial condition, affairs, and management of any applicant or captive insurance company operating under the laws of this state. For such purpose the commissioner shall have free access to all the books, papers, and documents relating to the business of the company, and the commissioner may summon witnesses and administer oaths and affirmations in the examination of the directors, trustees, officers, agents, or employees of such company and any other person in relation to its affairs, transactions, and conditions. The reasonable cost of examinations of captive insurance companies shall be paid by the company examined and shall include the expenses of the commissioner and the commissioner's assistants.    The commissioner may use other independent professionals, such as qualified actuaries, risk managers, certified public accountants, or examiners of insurance companies. The commissioner may also accept, as a part of the examination, reports or portions thereof made by the persons specified in this subsection (2). All reasonable expenses and charges of such persons so retained shall be paid directly by the captive insurance company being examined.     History. Source: L. 72: P. 435, § 1. C.R.S. 1963: § 72-36-20. L. 89: (7) added, p. 465, § 11, effective April 15. L. 91: (7) amended, p. 1248, § 11, effective July 1. L. 94: Entire section R&RE, p. 548, § 11, effective April 6. History. Source: L. 72: P. 435, § 1. C.R.S. 1963: § 72-36-20. L. 89: (7) added, p. 465, § 11, effective April 15. L. 91: (7) amended, p. 1248, § 11, effective July 1. L. 94: Entire section R&RE, p. 548, § 11, effective April 6.
CO Code § 10-6-121 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-121. Legal Investments

  Group captive insurance companies shall comply with the investment requirements and limitations applicable to other insurance companies under the laws of this state as described in sections 10-1-102 (2) and (16), 10-3-213 to 10-3-242, and 10-3-802.      Pure captive insurance companies shall not be subject to any restrictions on investments whatsoever; except that the commissioner may prohibit or limit any investment that threatens the solvency or liquidity of any such company or if such investments are not made in accordance with the approved plan of operation.    A pure captive insurance company may make loans to its parent company if approved within its plan of operations.       In lieu of a fidelity bond, the officers, directors, or managers of a captive insurance company shall demonstrate sufficient safeguards to protect the funds of the captive insurance company.      History. Source: L. 72: P. 436, § 1. C.R.S. 1963: § 72-36-21. L. 87: Entire section amended, p. 438, § 7, effective May 22. L. 89: (2) amended and (3) to (11) added, p. 466, § 12, effective April 15. L. 91: IP(10) amended, p. 1225, § 6, effective May 24. L. 94: Entire section R&RE, p. 549, § 12, effective April 6. L. 2003: (1) amended, p. 617, § 16, effective July 1. History. Source: L. 72: P. 436, § 1. C.R.S. 1963: § 72-36-21. L. 87: Entire section amended, p. 438, § 7, effective May 22. L. 89: (2) amended and (3) to (11) added, p. 466, § 12, effective April 15. L. 91: IP(10) amended, p. 1225, § 6, effective May 24. L. 94: Entire section R&RE, p. 549, § 12, effective April 6. L. 2003: (1) amended, p. 617, § 16, effective July 1.    Cross references:   For the regulation of the financial affairs of insurance companies, see part 2 of article 3 of this title 10.
CO Code § 10-6-122 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-122. Reinsurance

  Except as otherwise provided in subsection (2) of this section, any captive insurance company authorized to do business in this state may take credit for reserves on risks ceded to a reinsurer pursuant to part 7 of article 3 of this title and any applicable rules.    Notwithstanding the provisions of subsection (1) of this section, any captive insurance company may cede risks to a reinsurer not meeting the standards of said subsection (1) and may take reserve credits if the captive insurance company receives prior written approval from the commissioner.     History. Source: L. 72: P. 436, § 1. C.R.S. 1963: § 72-36-22. L. 94: Entire section R&RE, p. 549, § 13, effective April 6. L. 2014: (1) amended,(HB 14-1315), ch. 295, p. 1218, § 6, effective January 1, 2015. History. Source: L. 72: P. 436, § 1. C.R.S. 1963: § 72-36-22. L. 94: Entire section R&RE, p. 549, § 13, effective April 6. L. 2014: (1) amended,(HB 14-1315), ch. 295, p. 1218, § 6, effective January 1, 2015.    Cross references:   For reinsurance generally, see § 10-3-701 .
CO Code § 10-6-125 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-125. Filing of Rates

  A group captive insurance company's rates, rate classification systems, or funding levels shall be sufficient to fund expected operations and expenses. The commissioner may require that a pure captive insurance company file rating or funding data if such pure captive insurance company provides or plans to provide employee benefits.    Rating structures for insurance applied to and paid by employees of a captive insurance company shall not be excessive, inadequate, or unfairly discriminatory.     History. Source: L. 72: P. 437, § 1. C.R.S. 1963: § 72-36-25. L. 79: (3) amended, p. 377, § 13, effective July 1. L. 87: (1) amended, p. 438, § 9, effective May 22. L. 89: (4) added, p. 467, § 14, effective April 15. L. 94: Entire section amended, p. 549, § 14, effective April 6. History. Source: L. 72: P. 437, § 1. C.R.S. 1963: § 72-36-25. L. 79: (3) amended, p. 377, § 13, effective July 1. L. 87: (1) amended, p. 438, § 9, effective May 22. L. 89: (4) added, p. 467, § 14, effective April 15. L. 94: Entire section amended, p. 549, § 14, effective April 6.
CO Code § 10-6-127 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-127. Guaranty Fund Coverage - Not Required

  Any provision of the law to the contrary notwithstanding, no captive insurance company shall be compelled to join or contribute financially to any plan, pool, association, or guaranty or insolvency fund in this state; nor shall any captive insurance company or its insured receive any benefit from such plan, pool, association, or guaranty or insolvency fund for claims arising out of operations of such captive insurance company.    All policy forms or other evidence of coverage shall clearly disclose that guaranty fund coverage is not available.     History. Source: L. 72: P. 437, § 1. C.R.S. 1963: § 72-36-27. L. 94: Entire section amended, p. 550, § 15, effective April 6. History. Source: L. 72: P. 437, § 1. C.R.S. 1963: § 72-36-27. L. 94: Entire section amended, p. 550, § 15, effective April 6.
CO Code § 10-6-128.5 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-128.5. Penalties

  The commissioner may charge a late fee of up to one hundred dollars per day for any required or reasonably requested report which is received after the filing deadline.    Any company failing to pay taxes as specified in this article shall be liable to pay a penalty of up to one hundred dollars for each day of delinquency. If the tax paid is less than the full amount prescribed by this article, interest at the rate of one percent per month or fraction thereof on the unpaid amount shall be charged from the date payment was due until the date full payment is received, and a penalty of up to twenty-five percent of the unpaid amount may be assessed. The amount of taxes and the penalties collected shall be transmitted to the state treasurer and credited to the general fund.    The assessment of any fee or penalty against a captive insurance company shall be subject to the company's right to request a hearing and to judicial review by the court of appeals pursuant to section 24-4-106 (11), C.R.S.    Any director, trustee, officer, agent, or employee of a captive insurance company or any other person who knowingly or willfully makes any materially false certificate, entry, or memorandum upon any of the books or papers of any captive insurance company or upon any statement filed or offered to be filed in the division of insurance or used in the course of any examination, inquiry, or investigation with the intent to deceive the commissioner or any person appointed by the commissioner to make such examination commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501, C.R.S.     History. Source: L. 94: Entire section added, p. 553, § 17, effective April 6. L. 2002: (4) amended, p. 1468, § 27, effective October 1.    Cross references:   For the legislative declaration contained in the 2002 act amending subsection (4), see section 1 of chapter 318, Session Laws of Colorado 2002.
CO Code § 10-6-129 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-129. Rules of Commissioner

 The commissioner may establish and from time to time amend such reasonable rules as are necessary to enable the commissioner to carry out the commissioner's duties under this article, including rules concerning the establishment and nature of loss reserves.   History. Source: L. 72: P. 439, § 1. C.R.S. 1963: § 72-36-29. L. 92: Entire section amended, p. 1564, § 74, effective May 20. L. 94: Entire section amended, p. 553, § 18, effective April 6. History. Source: L. 72: P. 439, § 1. C.R.S. 1963: § 72-36-29. L. 92: Entire section amended, p. 1564, § 74, effective May 20. L. 94: Entire section amended, p. 553, § 18, effective April 6.
CO Code § 10-6-130 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-130. Laws Applicable

  The provisions of law generally applicable to insurance companies shall not apply to captive insurance companies except as specifically provided in this article and except that captive insurance companies are subject to parts 9 and 10 of article 2 of this title and parts 7, 11, and 12 of article 3 of this title.    Group captive insurance companies are subject to the provisions of section 10-3-208 (3) to (7), part 2 of article 1 of this title, article 2 of this title, and parts 8 and 14 of article 3 of this title.    The malpractice reporting requirements of sections 10-1-120 to 10-1-125 shall apply to captive insurance companies.     History. Source: L. 72: P. 439, § 1. C.R.S. 1963: § 72-36-30. L. 89: Entire section amended, p. 468, § 15, effective April 15. L. 91: Entire section amended, p. 1226, § 8, effective May 24. L. 94: Entire section amended, p. 554, § 19, effective April 6. L. 97: (2) amended, p. 92, § 2, effective March 24. L. 2003: (3) amended, p. 618, § 17, effective July 1. History. Source: L. 72: P. 439, § 1. C.R.S. 1963: § 72-36-30. L. 89: Entire section amended, p. 468, § 15, effective April 15. L. 91: Entire section amended, p. 1226, § 8, effective May 24. L. 94: Entire section amended, p. 554, § 19, effective April 6. L. 97: (2) amended, p. 92, § 2, effective March 24. L. 2003: (3) amended, p. 618, § 17, effective July 1.
CO Code § 10-10-101 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 10 - Credit Insurance|§ 10-10-101. Short Title

 This article shall be known and may be cited as the “Credit Insurance Act”.   History. Source: L. 69: P. 536, § 2. C.R.S. 1963: § 72-28-2. L. 92: Entire section amended, p. 1569, § 81, effective May 20. History. Source: L. 69: P. 536, § 2. C.R.S. 1963: § 72-28-2. L. 92: Entire section amended, p. 1569, § 81, effective May 20.
CO Code § 10-10-102 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 10 - Credit Insurance|§ 10-10-102. Legislative Declaration

 The purpose of this article is to promote the public welfare by regulating credit insurance. Nothing in this article is intended to prohibit or discourage reasonable competition. The provisions of this article shall be liberally construed.   History. Source: L. 69: P. 536, § 1. C.R.S. 1963: § 72-28-1. L. 92: Entire section amended, p. 1569, § 82, effective May 20. History. Source: L. 69: P. 536, § 1. C.R.S. 1963: § 72-28-1. L. 92: Entire section amended, p. 1569, § 82, effective May 20.
CO Code § 10-10-103 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 10 - Credit Insurance|§ 10-10-103. Definitions

 As used in this article, unless the context otherwise requires:    “Commissioner” means the commissioner of insurance of Colorado.    “Credit insurance” means insurance on a debtor to provide indemnity for payments or loan balance, or any combination thereof, becoming due on a specific loan or other credit transaction upon the occurrence of a contingency for which insurance is obtained.    (Deleted by amendment,L. 92, p. 1569, § 83, effective May 20, 1992.)    “Creditor” means the lender of money or vendor or lessor of goods, services, property, rights, or privileges for which payment is arranged through a credit transaction, or any successor to the right, title, or interest of any such lender, vendor, or lessor, and an affiliate, associate, or subsidiary of any of them, or any director, officer, or employee of any of them, or any other person in any way associated with any of them.    “Debtor” means a borrower of money or a purchaser or lessee of goods, services, property, rights, or privileges for which payment is arranged through a credit transaction.    “Indebtedness” means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction.    “Truncated coverage” means credit insurance that provides a term of insurance coverage for a period that is shorter than the full term of the indebtedness remaining at the time the insurance coverage is elected. The term does not include credit insurance coverage that terminates on attainment of a specific age.     History. Source: L. 69: P. 536, § 4. C.R.S. 1963: § 72-28-4. L. 92: (2) and (3) amended, p. 1569, § 83, effective May 20. L. 2000: (7) added, p. 151, § 1, effective August 2. History. Source: L. 69: P. 536, § 4. C.R.S. 1963: § 72-28-4. L. 92: (2) and (3) amended, p. 1569, § 83, effective May 20. L. 2000: (7) added, p. 151, § 1, effective August 2.
CO Code § 10-10-104 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 10 - Credit Insurance|§ 10-10-104. Application of Article

 All insurance in connection with loans or other credit transactions shall be subject to the provisions of this article. Insurance shall not be subject to the provisions of this article where the issuance of such insurance is an isolated transaction on the part of the insurer not related to an agreement or a plan for insuring debtors of the creditor.   History. Source: L. 69: P. 536, § 3. C.R.S. 1963: § 72-28-3. L. 85: Entire section amended, p. 302, § 14, effective May 10. L. 92: Entire section amended, p. 1569, § 84, effective May 20. L. 2000: Entire section amended, p. 168, § 1, effective August 2. History. Source: L. 69: P. 536, § 3. C.R.S. 1963: § 72-28-3. L. 85: Entire section amended, p. 302, § 14, effective May 10. L. 92: Entire section amended, p. 1569, § 84, effective May 20. L. 2000: Entire section amended, p. 168, § 1, effective August 2.
CO Code § 10-10-106 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 10 - Credit Insurance|§ 10-10-106. Amount of Credit Insurance

  The initial amount of credit insurance shall not exceed the total amount repayable under the contract of indebtedness and, where an indebtedness is repayable in substantially equal installments, the amount of insurance shall at no time exceed the scheduled or actual amount of unpaid indebtedness, whichever is greater.    Notwithstanding the provisions of subsection (1) of this section, insurance on agricultural credit transaction commitments, not exceeding one year in duration, may be written up to the amount of the loan commitment on a nondecreasing or level term plan.    Notwithstanding any other provision of this section, insurance on educational credit transaction commitments may be written for the amount of the portion of such commitment that has not been advanced by the creditor.    The total amount of periodic indemnity payable by credit accident and health insurance in the event of disability, as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of the indebtedness; and the amount of each periodic indemnity payment shall not exceed the original indebtedness divided by the number of periodic installments.     History. Source: L. 69: P. 537, § 6. C.R.S. 1963: § 72-28-6. L. 92: (1) amended, p. 1570, § 86, effective May 20. History. Source: L. 69: P. 537, § 6. C.R.S. 1963: § 72-28-6. L. 92: (1) amended, p. 1570, § 86, effective May 20.