reglab/housing_qa huggingface dataset:
CO Code § 10-7-610 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-610. Limited Purchase in Incontestability Period

  It is a violation of this part 6 for a person to enter into a viatical settlement contract within a two-year period commencing with the date of issuance of the policy unless the viator certifies to the viatical settlement provider that one or more of the following conditions has been met within the two-year period:   The policy was issued upon the viator's exercise of conversion rights arising out of a group or individual policy, if the total of the time covered under the conversion policy plus the time covered under the prior policy is at least twenty-four months. The time covered under a group policy shall be calculated without regard to a change in insurance carriers if the coverage has been continuous and under the same group sponsorship.    The viator submits independent evidence to the viatical settlement provider that one or more of the following conditions has been met within the two-year period:   The viator or insured is terminally or chronically ill; or    The viator or insured disposes of his or her ownership interests in a closely held corporation pursuant to the terms of a buyout or other similar agreement in effect at the time the insurance policy was initially issued.          Copies of the independent evidence described in paragraph (b) of subsection (1) of this section and documents required must be submitted to the insurer when the viatical settlement provider submits a request to the insurer for verification of coverage. The copies shall be accompanied by a letter of attestation from the viatical settlement provider that the copies are true and correct copies of the documents received by the viatical settlement provider.    If the viatical settlement provider submits to the insurer a copy of independent evidence provided for in paragraph (b) of subsection (1) of this section when the viatical settlement provider submits a request to the insurer to effect the transfer of the policy to the viatical settlement provider, the copy is deemed to conclusively establish that the viatical settlement contract satisfies the requirements of this section and the insurer shall respond timely to the request.     History. Source: L. 2005: Entire part added, p. 1313, § 1, effective January 1, 2006.
CO Code § 10-7-614 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-614. Unfair Trade Practices

 A violation of this part 6 shall constitute an unfair trade practice pursuant to part 11 of article 3 of this title and be subject to the penalties contained in such part 11.   History. Source: L. 2005: Entire part added, p. 1322, § 1, effective January 1, 2006.
CO Code § 10-7-615 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-615. Rules

  The commissioner may:   Promulgate rules implementing this part 6;    Establish standards for evaluating the reasonableness of payments under a viatical settlement contract for a person who is terminally or chronically ill. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a policy. If the insured is not terminally or chronically ill, a viatical settlement provider shall pay an amount greater than the cash surrender value or accelerated death benefit then available.    Establish appropriate licensing requirements, fees, and standards for continued licensure for a viatical settlement provider and a fee for life insurance producers;    Require a bond or other mechanism for financial accountability for a viatical settlement provider; and    Adopt rules governing the relationship and responsibilities of an insurer and a viatical settlement provider, a life insurance producer, and others in the business of viatical settlements during the period of consideration or effectuation of a viatical settlement contract.        History. Source: L. 2005: Entire part added, p. 1322, § 1, effective January 1, 2006.
CO Code § 10-7-616 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-616. No Preemption - Colorado Securities Act - Authority of Division of Securities

 Nothing in this part 6 preempts or otherwise limits the provisions of the “Colorado Securities Act”, article 51 of title 11, C.R.S., or any rules, orders, policy statements, notices, bulletins, or other interpretations issued by or through the commissioner of securities or the commissioner of securities' designee acting pursuant to the “Colorado Securities Act”. Compliance with this part 6 does not constitute compliance with any applicable provision of the “Colorado Securities Act” or any rules, orders, policy statements, notices, bulletins, or other interpretations issued by or through the commissioner of securities or the commissioner of securities' designee acting pursuant to the “Colorado Securities Act”.   History. Source: L. 2005: Entire part added, p. 1323, § 1, effective January 1, 2006.
CO Code § 10-7-617 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-617. Application

 A viatical settlement provider lawfully transacting business in this state may continue to do so pending approval or disapproval of the person's application for a license as long as the application is filed with the commissioner not later than thirty days after publication by the commissioner of an application form for licensure of viatical settlement providers. If the publication of the application form is prior to January 1, 2006, the filing of the application shall not be later than thirty days after January 1, 2006.   History. Source: L. 2005: Entire part added, p. 1323, § 1, effective January 1, 2006.
CO Code § 10-7-618 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-618. Continuation of Business

 Notwithstanding any provision of this part 6 to the contrary, a person who has lawfully negotiated viatical settlement contracts between a viator and one or more viatical settlement providers for at least one year immediately prior to January 1, 2006, may continue to negotiate viatical settlements in this state for a period of one year from January 1, 2006, if such person registers with the commissioner on a form prescribed by the commissioner. Such registration form shall be published by the commissioner not later than thirty days after January 1, 2006, and shall require a person registering to evidence that he or she has lawfully negotiated viatical settlement contracts. The form shall also include an acknowledgment by such person that he or she will operate in accordance with and comply with this part 6.   History. Source: L. 2005: Entire part added, p. 1323, § 1, effective January 1, 2006.
CO Code § 10-7-619 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-619. Viatical Settlements Cash Fund - Created

 All direct and indirect expenditures of the commissioner and the division in administering this part 6 shall be paid from the viatical settlements cash fund, which fund is hereby created in the state treasury. All fees collected pursuant to this part 6 shall be transmitted to the state treasurer, who shall credit them to the viatical settlements cash fund. All moneys credited to the viatical settlements cash fund shall be used as provided in this section, shall not be deposited in or transferred to the general fund of this state or to any other fund, and shall be subject to annual appropriation by the general assembly for the purpose of defraying the expenses of the commissioner and the division in administering this part 6. All interest derived from the deposit and investment of moneys in the viatical settlements cash fund shall be credited to the viatical settlements cash fund.   History. Source: L. 2005: Entire part added, p. 1323, § 1, effective January 1, 2006.
CO Code § 10-7-620 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-620. Severability

 If any provision of this part 6 is for any reason held to be unconstitutional or invalid, such holding shall not affect the constitutionality or validity of the remaining provisions of this part 6, and to this end the provisions of this part 6 are expressly declared to be severable.   History. Source: L. 2005: Entire part added, p. 1324, § 1, effective January 1, 2006.
CO Code § 10-7-701 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-701. Short Title

 This part 7 shall be known and may be cited as the “Insurable Interest Act”.   History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 972, § 1, effective May 27.
CO Code § 10-7-702 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-702. Definitions

 As used in this part 7, unless the context otherwise requires:    “Business entity” means a legal entity, including a joint venture, partnership, corporation, limited liability company, or business trust.    “Person” means any natural person, business entity, association, or trust.    “Policy” means an individual or group policy, group certificate, contract, or arrangement of life insurance affecting the rights of a resident of this state or bearing a reasonable relation to this state, regardless of whether delivered or issued for delivery in this state.    “Settlor” means a person who executes a trust instrument, including a person for whom a fiduciary or agent is acting.    “Stranger originated life insurance” means an act, practice, or arrangement to initiate a life insurance policy for the benefit of a third-party investor who, at the time of policy origination, has no insurable interest in the insured. Stranger originated life insurance practices include cases in which life insurance is purchased with resources or guarantees from or through a person or entity who, at the time of inception, could not lawfully initiate the policy themselves and where, at the time of inception, there is an arrangement or agreement, whether verbal or written, to directly or indirectly transfer the ownership of the policy or the policy benefits to a third party. Trusts that are created to give the appearance of insurable interest and are used to initiate policies for investors violate insurable interest laws and the prohibition on wagering on life. “Stranger originated life insurance” does not include lawful viatical settlement contracts as permitted by part 6 of this article, provided that such contracts are not for the purpose of evading regulation under this article.     History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 972, § 1, effective May 27.
CO Code § 10-7-703 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-703. Insurance on the Life of Another

 A person shall not procure or cause to be procured or effected a policy upon the life of another individual unless the benefits under the policy are payable to the insured, to the personal representative of the insured's estate, or to a person having, at the time the policy is issued, an insurable interest in the individual insured.   History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 973, § 1, effective May 27.
CO Code § 10-7-705 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-705. Insured's Own Life

 An individual has an insurable interest in the individual's own life, and an individual of competent legal capacity who procures or effects a policy on the individual's own life may designate any person as the beneficiary and, unless the individual elects an irrevocable beneficiary designation, change the beneficiary at any time thereafter.   History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 975, § 1, effective May 27.
CO Code § 10-7-706 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-706. Reliance on Statements

 An insurer is entitled to rely upon all reasonable statements, declarations, and representations made by an applicant for life insurance relative to the existence of an insurable interest. No insurer incurs legal liability, except as set forth in the policy, by virtue of untrue statements, declarations, or representations relied upon in good faith by the insurer.   History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 975, § 1, effective May 27.
CO Code § 10-7-707 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-707. Consent of Insured

  A policy upon the life of an individual, other than a policy of noncontributory group life insurance, shall not be effected unless, at or before the time the policy is effectuated, the individual insured, having legal capacity to contract, applies for or consents in writing to the policy and its terms. Consent may be given by another person in the following cases:   A spouse may consent to insurance on the other spouse;    A parent or a person having legal custody of a minor may consent to the issuance of a policy on a dependent child;    A court-appointed guardian of a person may consent to the issuance of a policy on the person under guardianship;    A court-appointed conservator of a person's estate may consent to the issuance of a policy on the person whose estate is under conservatorship;    An attorney-in-fact may consent to the issuance of a policy on the person that appointed the attorney-in-fact for the limited purpose of replacing one or more policies with one or more new policies if, as the result of the replacement, the aggregate amount of life insurance on the person remains the same or decreases;    A trustee of a revocable trust may consent to the issuance of a policy on the life of a settlor of the trust; and    A court of general jurisdiction may give consent to the issuance of a policy upon a showing of facts that the court considers sufficient to justify the issuance of the policy.        History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 975, § 1, effective May 27.
CO Code § 10-7-708 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-708. Prohibited Practices

  It is unlawful for any person to procure, or cause to be procured or effected, a policy in violation of section 10-7-703. Such conduct is an unfair or deceptive act or practice pursuant to section 10-3-1104.    It is unlawful for any person to engage in stranger originated life insurance or otherwise wager on life. Such conduct is an unfair or deceptive practice pursuant to section 10-3-1104.     History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 976, § 1, effective May 27.
CO Code § 10-7-709 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-709. Actions to Recover Death Benefits

 If the beneficiary, assignee, or other payee received the death benefits under a life insurance policy procured or effected in violation of this article, the personal representative of the insured's estate or other lawfully acting agent may maintain an action to recover the death benefits from the person receiving them.   History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 976, § 1, effective May 27.
CO Code § 10-7-710 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 7 - Insurable Interest Act|§ 10-7-710. Legitimate Insurance Transactions

  Except where a life insurance policy is procured or effected in violation of section 10-7-708, nothing in this article prevents:   An owner of a policy, whether or not the owner of the policy is also the subject of the insurance, from entering into a viatical settlement contract;    Any person from soliciting a person to enter into a viatical settlement contract; or    An owner or beneficiary from enforcing the payment of all benefits and proceeds of the policy obtained under a viatical settlement contract.        History. Source: L. 2011: Entire part added,(SB 11-182), ch. 227, p. 976, § 1, effective May 27.
CO Code § 10-7-801 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 8 - Unclaimed Life Insurance Benefits Act|§ 10-7-801. Short Title

 The short title of this part 8 is the “Unclaimed Life Insurance Benefits Act”.   History. Source: L. 2019: Entire part added,(SB 19-088), ch. 110, p. 463, § 4, effective July 1, 2020.
CO Code § 10-7-802 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 8 - Unclaimed Life Insurance Benefits Act|§ 10-7-802. Definitions

 As used in this part 8, unless the context otherwise requires:    “Contract” means an annuity contract. The term does not include an annuity used to fund an employment-based retirement plan or program if:   The insurer does not perform the record-keeping services; or    The insurer is not committed by terms of the annuity contract to pay death benefits to the beneficiaries of specific plan participants.       “Death master file” means the United States social security administration death master file or other databases or service that is at least as comprehensive as the United States social security administration death master file for determining that an individual reportedly has died.    “Death master file match” means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, annuity owner, or retained asset account holder.    “Knowledge of death” means:   Receipt of an original or valid copy of a certified death certificate; or    A death master file match validated by the insurer in accordance with section 10-7-803 (2)(a)(I).       “Policy” means any policy or certificate of life insurance that provides a death benefit. The term does not include:   A policy or certificate of life insurance that provides a death benefit under an employee benefit plan:   Subject to the federal “Employee Retirement Income Security Act of 1974”, 29 U.S.C. sec. 1001, et seq., as amended; or    Under any federal employee benefit program;       A policy or certificate of life insurance that is used to fund a pre-need funeral contract or prearrangement;    A policy or certificate of credit life or accidental death insurance; or    A policy issued to a group master policyholder for which the insurer does not provide record-keeping services.       “Record-keeping services” means those services which the insurer has agreed with a group policy or contract customer to be responsible for obtaining, maintaining, and administering in its own or its agents' systems information about each individual insured under an insured's group insurance contract, or a line of coverage thereunder, including at least the following information:   Social security number or name and date of birth;    Beneficiary designation information;    Coverage eligibility;    Benefit amount; and    Premium payment status.       “Retained asset account” means a mechanism whereby the settlement of proceeds payable under a policy or contract is accomplished by the insurer or an entity acting on behalf of the insurer depositing the proceeds into an account with check or draft writing privileges, if those proceeds are retained by the insurer or its agent, pursuant to a supplementary contract not involving annuity benefits other than death benefits.     History. Source: L. 2019: Entire part added,(SB 19-088), ch. 110, p. 463, § 4, effective July 1, 2020. L. 2020: (5)(a)(I) amended,(HB 20-1402), ch. 216, p. 1043, § 14, effective June 30.
CO Code § 10-11-101 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-101. Short Title

 This article shall be known and may be cited as the “Title Insurance Code of Colorado”.   History. Source: L. 69: P. 520, § 1. C.R.S. 1963: § 72-26-1. History. Source: L. 69: P. 520, § 1. C.R.S. 1963: § 72-26-1.    ANNOTATION   Law reviews. For article, “Covering the Gap and Other Arcane Title Insurance Tips”, see 12 Colo. Law. 1785 (1983).
CO Code § 10-11-103 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-103. Compliance With Article Required

 On and after July 1, 1969, no company shall underwrite or issue a policy of title insurance or otherwise engage in the business of title insurance in this state unless authorized by the provisions of this article to transact such a business.   History. Source: L. 69: P. 521, § 1. C.R.S. 1963: § 72-26-3. History. Source: L. 69: P. 521, § 1. C.R.S. 1963: § 72-26-3.    ANNOTATION   This article provides a rather comprehensive set of regulations for title insurance companies and specifically provides that title insurance rates shall be regulated in the manner provided for regulation of casualty and surety insurance. Commander Leasing Co. v. Transamerica Title Ins. Co., 477 F.2d 77 (10th Cir. 1973).   Plaintiff's contention which characterized Colorado's purported regulation of the title insurance business as a “mere sham and a pretense” and not affording “effective” and “meaningful” regulation does not stand up when the Colorado regulatory statutes are examined. Commander Leasing Co. v. Transamerica Title Ins. Co., 477 F.2d 77 (10th Cir. 1973).   Both domestic and foreign title insurance companies subject to regulation. Both domestic and foreign title insurance companies are and have been subject to the general regulatory powers vested in the state insurance commissioner. Commander Leasing Co. v. Transamerica Title Ins. Co., 477 F.2d 77 (10th Cir. 1973).   State's unfair practices act and an illegal restraint of trade act are applicable to the business of title insurance. Commander Leasing Co. v. Transamerica Title Ins. Co., 477 F.2d 77 (10th Cir. 1973).   Effect of regulation on private antitrust action. The business of title insurance is the “business of insurance”, and the state of Colorado regulates the title insurance business to the end that under the McCarran act, a federal statute exempting the insurance business from the federal antitrust laws if it is regulated by the state, a private antitrust action would not lie against certain title insurance companies doing business in Colorado. Commander Leasing Co. v. Transamerica Title Ins. Co., 477 F.2d 77 (10th Cir. 1973).
CO Code § 10-11-104 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 11 - Title Insurance|Part 1 - Title Insurance Code|§ 10-11-104. Corporate Form Required

 Any domestic title insurance company formed after July 1, 1969, shall be organized as a stock corporation as provided in section 10-3-101 .   History. Source: L. 69: P. 521, § 1. C.R.S. 1963: § 72-26-4. History. Source: L. 69: P. 521, § 1. C.R.S. 1963: § 72-26-4.