reglab/housing_qa huggingface dataset:
CO Code § 10-7-313.9 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 3 - Standard Nonforfeiture and Valuation Act|§ 10-7-313.9. Single State Exemption

  The commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in Colorado from the requirements of section 10-7-313.3 if:   The commissioner has issued an exemption in writing to the company and has not subsequently revoked the exemption in writing; and    The company computes reserves using assumptions and methods used prior to the operative date of the valuation manual in addition to any requirements established by the commissioner and promulgated by rule.       For any company granted an exemption under this section, sections 10-7-114 and 10-7-309 to 10-7-313.2 are applicable. With respect to any company applying this exemption, any reference to section 10-7-313.3 found in sections 10-7-114 and 10-7-309 to 10-7-313.2 is not applicable.     History. Source: L. 2015: Entire section added,(HB 15-1048), ch. 63, p. 171, § 12, effective August 5.
CO Code § 10-7-314 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 3 - Standard Nonforfeiture and Valuation Act|§ 10-7-314. Automatic Premium Loans

 Nothing in this part 3 shall be construed to prohibit the company from including in its policies a provision for automatic premium loans to prevent premium default.   History. Source: L. 61: P. 469, § 18. CRS 53: § 72-20-14. C.R.S. 1963: § 72-19-14. History. Source: L. 61: P. 469, § 18. CRS 53: § 72-20-14. C.R.S. 1963: § 72-19-14.
CO Code § 10-7-315 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 3 - Standard Nonforfeiture and Valuation Act|§ 10-7-315. Operative Date

 At any time after April 11, 1961, and before January 1, 1966, any company may file with the commissioner a written notice of its election to comply with the provisions of this part 3 after a specified date before January 1, 1966. After the filing of such notice, then upon such specified date (which shall be the operative date of this part 3 for such company) this part 3 shall become operative with respect to policies thereafter issued by such company. If a company makes no such election, the operative date of this part 3 for such company shall be January 1, 1966.   History. Source: L. 61: P. 469, § 19. CRS 53: § 72-20-15. C.R.S. 1963: § 72-19-15. History. Source: L. 61: P. 469, § 19. CRS 53: § 72-20-15. C.R.S. 1963: § 72-19-15.
CO Code § 10-7-316 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 3 - Standard Nonforfeiture and Valuation Act|§ 10-7-316. Effect on Existing Policies

 Nothing in this part 3 shall be construed as affecting any policy issued by any company prior to the operative date provided for in section 10-7-315 .   History. Source: L. 61: P. 469, § 20. CRS 53: § 72-20-16. C.R.S. 1963: § 72-19-16. History. Source: L. 61: P. 469, § 20. CRS 53: § 72-20-16. C.R.S. 1963: § 72-19-16.
CO Code § 10-7-401 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 4 - Variable Contracts|§ 10-7-401. Sales Not Prohibited

 The provisions of section 10-3-1104 shall not prohibit the sale and issuance by life insurance companies of contracts providing for payments which vary directly according to investment experience in connection with the sale and issuance by such life insurance companies of other forms of life insurance and annuities as are provided for in this title.   History. Source: L. 61: P. 447, § 5. CRS 53: § 72-2-18. C.R.S. 1963: § 72-2-16. History. Source: L. 61: P. 447, § 5. CRS 53: § 72-2-18. C.R.S. 1963: § 72-2-16.
CO Code § 10-7-403 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 4 - Variable Contracts|§ 10-7-403. Where Benefits Are Payable in Variable Amounts

 Any contract providing benefits payable in variable amounts, delivered or issued for delivery in this state, shall contain a statement of the essential features of the procedures to be followed by the insurance company in determining the dollar amount of such variable benefits. Any such contract under which the benefits vary to reflect investment experience, including a group contract and any certificate in evidence of variable benefits issued thereunder, shall state that such dollar amount will so vary and shall contain on its first page a statement to the effect that the benefits thereunder are on a variable basis.   History. Source: L. 71: P. 713, § 1. C.R.S. 1963: § 72-2-46. History. Source: L. 71: P. 713, § 1. C.R.S. 1963: § 72-2-46.
CO Code § 10-7-404 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 4 - Variable Contracts|§ 10-7-404. Authority to Issue Variable Contracts

  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:   The history and financial condition of the company;    The character, responsibility, and fitness of the officers and directors of the company; and    The law and regulations under which the company is authorized in the state of domicile to issue variable contracts.       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.     History. Source: L. 71: P. 713, § 1. C.R.S. 1963: § 72-2-47. History. Source: L. 71: P. 713, § 1. C.R.S. 1963: § 72-2-47.
CO Code § 10-7-405 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 4 - Variable Contracts|§ 10-7-405. Construction

  Notwithstanding any other provision of law, the commissioner has sole authority to regulate the issuance and sale of variable contracts and to issue such reasonable rules and regulations as may be appropriate to carry out the purposes and provisions of sections 10-7-402 to 10-7-405.    Except for sections 10-3-204, 10-7-102 (1)(g) to (1)(i), 10-7-202 (1)(a), 10-7-302 to 10-7-306, and 10-7-501 to 10-7-510, and, except as otherwise provided in sections 10-7-402 to 10-7-405, all pertinent provisions of this title shall apply to separate accounts and contracts relating thereto. Any individual variable life insurance or annuity contract, delivered or issued for delivery in this state, shall contain grace, reinstatement, and nonforfeiture provisions appropriate to such a contract. The reserve liability for variable contracts shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees.    Notwithstanding any other provision of law, the term “company” as used in sections 10-7-402 to 10-7-404 includes fraternal benefit societies licensed to do business in this state under article 14 of this title.     History. Source: L. 71: P. 714, § 1. C.R.S. 1963: § 72-2-48. L. 77: (2) amended, p. 528, § 10, effective July 1. History. Source: L. 71: P. 714, § 1. C.R.S. 1963: § 72-2-48. L. 77: (2) amended, p. 528, § 10, effective July 1.
CO Code § 10-7-501 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-501. Short Title

 This part 5 shall be known and may be cited as the “Standard Nonforfeiture Law for Individual Deferred Annuities”.   History. Source: L. 77: Entire part added, p. 528, § 11, effective July 1.
CO Code § 10-7-502 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-502. Exemptions

 This part 5 shall not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer (including a partnership or sole proprietorship) or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the federal “Internal Revenue Code of 1986”, as now or hereafter amended. Nor shall this part 5 apply to any premium deposit fund, variable annuity, investment annuity, immediate annuity, deferred annuity contract after annuity payments have commenced, or reversionary annuity, or to any contract delivered outside this state through an agent or other representative of the company issuing the contract.   History. Source: L. 77: Entire part added, p. 528, § 11, effective July 1. L. 2000: Entire section amended, p. 1840, § 11, effective August 2.
CO Code § 10-7-505 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-505. Computation of Annuity Benefit

 Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Such present value shall be computed using the mortality table, if any, and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.   History. Source: L. 77: Entire part added, p. 530, § 11, effective July 1.
CO Code § 10-7-506 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-506. Computation of Cash Surrender Benefit

 For contracts which provide cash surrender benefits, such cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under the contract at maturity arising from considerations paid prior to the time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, such present value being calculated on the basis of an interest rate not more than one percent higher than the interest rate specified in the contract for accumulating the net considerations to determine such maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the company to the contract. In no event shall any cash surrender benefit be less than the minimum nonforfeiture amount at the time of surrender. The death benefit under such contracts shall be at least equal to the cash surrender benefit.   History. Source: L. 77: Entire part added, p. 530, § 11, effective July 1.
CO Code § 10-7-507 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-507. Computation of Paid-Up Annuity Nonforfeiture Benefit

  For contracts which do not provide cash surrender benefits, the present value of any paid-up annuity benefit available as a nonforfeiture option at any time prior to maturity shall not be less than the present value of that portion of the maturity value of the paid-up annuity benefit provided under the contract arising from considerations paid prior to the time the contract is surrendered in exchange for, or changed to, a deferred paid-up annuity, such present value being calculated for the period prior to the maturity date on the basis of the interest rate specified in the contract for accumulating the net considerations to determine such maturity value, and increased by any existing additional amounts credited by the company to the contract.    For contracts which do not provide any death benefits prior to the commencement of any annuity payments, such present values shall be calculated on the basis of such interest rate and the mortality table specified in the contract for determining the maturity value of the paid-up annuity benefit. However, in no event shall the present value of a paid-up annuity benefit be less than the minimum nonforfeiture amount at the time of the insured's death.     History. Source: L. 77: Entire part added, p. 530, § 11, effective July 1.
CO Code § 10-7-508 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-508. Determination of Maturity Date

 For the purpose of determining the benefits calculated under sections 10-7-506 and 10-7-507 , in the case of annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election shall be permitted by the contract but shall not be deemed to be later than the anniversary of the contract next following the annuitant's seventieth birthday or the tenth anniversary of the contract, whichever is later.   History. Source: L. 77: Entire part added, p. 531, § 11, effective July 1.
CO Code § 10-7-509 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-509. Calculations of Values - Supplemental Rules

  Any paid-up annuity, cash surrender, or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.    For any contract which provides, within the same contract by rider or supplemental contract provision, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits shall be equal to the sum of the minimum nonforfeiture benefits for the annuity portion and the minimum nonforfeiture benefits, if any, for the life insurance portion computed as if each portion were a separate contract. Notwithstanding the provisions of sections 10-7-505 to 10-7-508 and subsection (1) of this section, additional benefits payable in the event of total and permanent disability, as reversionary annuity or deferred reversionary annuity benefits, or as other policy benefits additional to life insurance, endowment, and annuity benefits, and considerations for all such additional benefits, shall be disregarded in ascertaining the minimum nonforfeiture amounts and paid-up annuity, cash surrender, and death benefits that may be required by this part 5. The inclusion of such additional benefits shall not be required in any paid-up benefits, unless additional benefits separately would require minimum nonforfeiture amounts and paid-up annuity, cash surrender, and death benefits.     History. Source: L. 77: Entire part added, p. 531, § 11, effective July 1.
CO Code § 10-7-510 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-510. Effective Date - Applicability of Part

 On or after July 1, 2004, a company may elect to apply this part 5 to annuity contracts on a contract form-by-contract form basis. Otherwise, this part 5 shall apply to all annuity contracts created on or after July 1, 2005, and between July 1, 2004, and July 1, 2005, this part 5 as it existed on June 30, 2004, shall apply to all other annuity contracts.   History. Source: L. 77: Entire part added, p. 531, § 11, effective July 1. L. 2004: Entire section amended, p. 820, § 3, effective July 1.
CO Code § 10-7-511 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 5 - Standard Nonforfeiture Law for Individual Deferred Annuities|§ 10-7-511. Rule-Making Authority

 The commissioner may adopt rules to implement this part 5.   History. Source: L. 2004: Entire section added, p. 821, § 4, effective July 1.
CO Code § 10-7-601 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-601. Short Title

 This part 6 shall be known and may be cited as the “Viatical Settlements Act”.   History. Source: L. 2005: Entire part added, p. 1293, § 1, effective January 1, 2006.
CO Code § 10-7-604 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-604. Licensure - Refusal to Issue - Suspension - Revocation - Refusal to Renew

  The commissioner shall refuse to issue, suspend, revoke, or refuse to renew the license of a viatical settlement provider if the commissioner finds after compliance with subsection (3) of this section that:   There was any material misrepresentation in the application for the license;    The licensee or any of its officers, partners, members, or key management personnel has been convicted of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy or incompetent;    The licensee demonstrates a pattern of unreasonable payments to viators;    The licensee or any of its officers, partners, members, or key management personnel has been found guilty of, or has pleaded guilty or nolo contendere to, any felony, or to a misdemeanor involving fraud or moral turpitude, regardless of whether a judgment or conviction has been entered by the court;    The licensee has entered into any viatical settlement contract that has not been approved pursuant to this part 6;    The licensee has failed to honor contractual obligations set out in a viatical settlement contract;    The licensee no longer meets the requirements for initial licensure;    The licensee has assigned, transferred, or pledged a viaticated policy to a person other than a viatical settlement provider licensed in this state; an accredited investor or qualified institutional buyer as defined, respectively, in regulation D, rule 501, or rule 144A of the federal “Securities Act of 1933”, as amended; a financing entity; a special purpose entity; or a related provider trust; or    The applicant or licensee or any of its officers, partners, members, or key management personnel, or any life insurance producer acting on behalf of the applicant or licensee, has violated this part 6.       The commissioner may suspend, revoke, or refuse to renew the license of a life insurance producer if the commissioner finds that such life insurance producer has violated this part 6.    If the commissioner denies a license application or suspends, revokes, or refuses to renew the license of a viatical settlement provider, or suspends, revokes, or refuses to renew the license of a life insurance producer, the commissioner shall conduct a hearing in accordance with the “State Administrative Procedure Act”, article 4 of title 24, C.R.S., and may use a hearing officer pursuant to section 10-1-127.     History. Source: L. 2005: Entire part added, p. 1300, § 1, effective January 1, 2006.    Cross references:   For regulation D, rule 501, see 17 CFR 230.501; for rule 144A, see 17 CFR 230.144A.
CO Code § 10-7-605 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-605. Forms Approval

 A person may not use a viatical settlement contract or provide to a viator a disclosure statement form in this state unless such contract or form is first filed with and approved by the commissioner. Any settlement contract form or disclosure form filed with the commissioner shall be deemed approved if it has not been disapproved within sixty days after the filing. The commissioner shall disapprove a viatical settlement contract form or disclosure statement form if, in the commissioner's opinion, the contract or provisions contained in it are unreasonable, contrary to the interests of the public, or misleading or unfair to the viator.   History. Source: L. 2005: Entire part added, p. 1301, § 1, effective January 1, 2006.
CO Code § 10-7-606 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 7 - Life Insurance|Part 6 - Viatical Settlements|§ 10-7-606. Annual Reports

  Each viatical settlement provider shall file with the commissioner by March 1 of each year an annual statement containing such information as the commissioner prescribes by rule. This information is limited to only those transactions in which the viator is a resident of this state and does not include individual transaction data regarding the business of viatical settlements or data that compromises the privacy of personal, financial, or health information of the viator or insured.    Except as otherwise allowed or required by law, a viatical settlement provider, life insurance producer, information bureau, rating agency or company, or other person with actual knowledge of a viator or insured's identity may not disclose that identity as a viator or insured or the viator's or insured's financial or medical information to another person unless the disclosure is:     Necessary to effect a viatical settlement contract between the viator and a viatical settlement provider; and (a) (I) Necessary to effect a viatical settlement contract between the viator and a viatical settlement provider; and    The viator or insured or both, as may be required, have provided prior written consent to the disclosure;       Provided in response to an investigation or examination by the commissioner or another governmental officer or agency or pursuant to this article;    A term of or condition to the transfer of a policy by one viatical settlement provider to another viatical settlement provider;    Necessary to permit a financing entity, related provider trust, or special purpose entity to finance the purchase of policies by a viatical settlement provider and the viator and insured have provided prior written consent to the disclosure;    Necessary to allow the viatical settlement provider or its authorized representative to make contacts for the purpose of determining health status; or    Required to purchase stop-loss coverage.         History. Source: L. 2005: Entire part added, p. 1301, § 1, effective January 1, 2006.