reglab/housing_qa huggingface dataset:
CO Code § 10-13-108 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 13 - Interinsurance|§ 10-13-108. Annual Financial Report

  Such attorney shall make a sworn annual report to the commissioner of the business of the preceding year ending December thirty-first, on or before the first day of March succeeding, showing that the financial condition of affairs at the office where such contracts are issued is in accordance with the standard of solvency, and shall furnish such additional information and reports as may be required to show the total premiums or deposits collected, the total losses paid, the total amounts returned to subscribers, and the amounts retained for expenses and subject to taxation. Such attorney shall not be required to furnish the names and addresses of any subscribers, except for purposes of verifying by the commissioner the reports furnished under section 10-13-105. These names and addresses are not to be filed or to become any part of the public records. The report shall be on a form prescribed by the commissioner.    The business affairs and assets of any reciprocal or interinsurance exchange or attorney's office shall be subject to examination by the commissioner.     History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-8. C.R.S. 1963: § 72-4-8. L. 64: P. 144, § 74. History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-8. C.R.S. 1963: § 72-4-8. L. 64: P. 144, § 74.
CO Code § 10-13-109 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 13 - Interinsurance|§ 10-13-109. Authority Conferred on Corporations

 Any corporation organized under the laws of this state, in addition to the rights, powers, and franchises specified in its articles of incorporation, has full power to exchange insurance contracts of the kind and character mentioned in section 10-13-101 . The right to exchange such contracts is declared to be incidental to the purposes for which such corporations are organized and as much granted as the rights and powers expressly conferred.   History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-9. C.R.S. 1963: § 72-4-9. History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-9. C.R.S. 1963: § 72-4-9.    Editor's note:   The word “corporation” as used in this section is limited to those engaged in the business of insurance or suretyship. See definition in § 10-1-102 (6) .
CO Code § 10-13-110 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 13 - Interinsurance|§ 10-13-110. Noncompliance a Misdemeanor

 Any attorney, agent, or representative who, except for the purpose of applying for a certificate of authority, exchanges any contracts of indemnity of the kind and character specified in section 10-13-101 or directly or indirectly solicits or negotiates any application for the same without first complying with the provisions of this title is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not less than one hundred dollars nor more than one thousand dollars.   History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-10. C.R.S. 1963: § 72-4-10. History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-10. C.R.S. 1963: § 72-4-10.
CO Code § 10-13-111 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 13 - Interinsurance|§ 10-13-111. Annual Certification - Revocation

 Each attorney by or through whom are issued any policies of or contracts for indemnity of the character referred to in this title shall procure from the commissioner annually a certificate of authority stating that all the requirements of this title have been complied with, and, upon such compliance and the payment of the fees and taxes required by this title, the commissioner shall issue such certificate of authority. The commissioner may revoke or suspend any certificate of authority issued in case of breach of any of the conditions imposed by this title after reasonable notice has been given said attorney in writing so that he may appear and show cause why such action should not be taken. Pending such investigation, no information shall be published, but, in case of revocation or suspension of a certificate of authority, notice of the same shall be published by the commissioner in the Denver daily newspapers. Any final action of the commissioner 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. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-11. C.R.S. 1963: § 72-4-11. L. 92: Entire section amended, p. 1574, § 100, effective May 20. History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-11. C.R.S. 1963: § 72-4-11. L. 92: Entire section amended, p. 1574, § 100, effective May 20.
CO Code § 10-13-113 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 13 - Interinsurance|§ 10-13-113. Additional Penalties

 In addition to the foregoing penalties and where not otherwise provided, the penalty for failure or refusal to comply with any provisions or terms of this title, upon the part of the attorney, shall be the refusal, suspension, or revocation of the certificate of authority by the commissioner, and publication of his act, after due notice and opportunity for hearing as provided for in section 10-13-111 .   History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-13. C.R.S. 1963: § 72-4-13. History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-13. C.R.S. 1963: § 72-4-13.
CO Code § 10-13-114 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 13 - Interinsurance|§ 10-13-114. Laws Applicable

 Except as they may be inconsistent with the provisions of this article, all other provisions of this title shall apply to interinsurance and reciprocal exchanges.   History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-14. C.R.S. 1963: § 72-4-14. L. 71: P. 720, § 4. L. 73: P. 846, § 3. History. Source: L. 13: P. 373, § 81. C.L. § 2554. CSA: C. 87, § 98. CRS 53: § 72-4-14. C.R.S. 1963: § 72-4-14. L. 71: P. 720, § 4. L. 73: P. 846, § 3.
CO Code § 10-15-101 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-101. Legislative Declaration

 The general assembly declares that the business of selling preneed contracts whereby the seller agrees to provide final disposition or funeral merchandise or services in the future or for future use is affected with a public interest, and the preservation of the safety and welfare of the public from unconscionable dealing requires regulation of the sale of the contracts and of the disposition of funds obtained as a result of the sales.   History. Source: L. 95: Entire article R&RE, p. 1031, § 1, effective May 25. L. 2021: Entire section amended,(SB 21-006), ch. 123, p. 489, § 5, effective September 7.    Editor's note:    This section is similar to former § 10-15-101 as it existed prior to 1995.    Section 31 of chapter 123 (SB 21-006), Session Laws of Colorado 2021, provides that the act changing this section applies to final dispositions of human remains or human fetuses made on or after September 7, 2021.     ANNOTATION   Law reviews. For article, “Disposition of Last Remains -- Planning Aspects”, see 11 Colo. Law. 2986 (1982).   Free competition in the area of preneed funeral contracts assures that the interests of the public will be advanced, and that members of the public will be assured of obtaining a contract best suited to their desires and needs. Mem'l Gardens, Inc. v. Olympian Sales & Mgmt. Consultants, Inc., 661 P.2d 296 (Colo. App. 1982).
CO Code § 10-15-103.5 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-103.5. Scope of Article - Exemptions

  This article does not apply to a person providing a developed final resting place within a designated cemetery approved for the interment, entombment, or inurnment of human remains.      A person providing an undeveloped final resting place is exempt from this article if the cemetery where the undeveloped final resting place is located contains unsold developed final resting places representing at least twenty-five percent of the outstanding paid-in-full contracts for undeveloped final resting places.    If the specific and identifiable final resting place is not developed for use at the time of need and full payment has been made, then the contract must provide the purchaser with an immediate alternate and comparable final resting place at the same cemetery or with a full refund of moneys paid to qualify for the exemption under this subsection (2).         History. Source: L. 2013: Entire section added,(SB 13-125), ch. 287, p. 1517, § 3, effective August 7.
CO Code § 10-15-104 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-104. Annual Report

 Each contract seller shall file with the commissioner a report, on a calendar year basis, on a form provided by the commissioner. In the report, each contract seller that is required to deposit funds with a trustee shall state the name of each trustee where trust funds are on deposit and the amount remaining on deposit in the trust fund on December 31. Any contract seller that has voluntarily or involuntarily discontinued the sale of preneed contracts need not obtain a renewal of its license but shall continue to make annual reports to the commissioner until all the contracts have been fully performed.   History. Source: L. 95: Entire article R&RE, p. 1036, § 1, effective May 25. L. 2013: Entire section amended,(SB 13-125), ch. 287, p. 1517, § 4, effective August 7.    Editor's note:   This section is similar to former § 10-15-104 as it existed prior to 1995.   Cross references:   For state laws relating to investment of funds by savings and loan associations, see § 11-41-114 ; for investment of funds by banks, see § 11-105-304 ; for investment of funds by credit unions, see § 11-30-104 .
CO Code § 10-15-106 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-106. Preexisting Contracts

 This article shall not be construed so as to impair or affect the obligation of any preexisting lawful contract.   History. Source: L. 95: Entire article R&RE, p. 1041, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-106 as it existed prior to 1995.
CO Code § 10-15-107 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-107. Deposit of Funds With Trustee

  If a contract seller enters into a preneed contract in which the consideration is funds, the contract seller shall deposit not less than seventy-five percent of the total preneed contract price with a trustee. The contract seller shall deposit all funds in excess of twenty-five percent of the total preneed contract price with a trustee within forty-five days after receipt thereof. All funds deposited with a trustee shall be deposited under the terms of a trust instrument, which shall not be inconsistent or in conflict with the provisions of this article, and shall be held in trust by the trustee pursuant to the provisions of this article. Copies of all trust instruments and amendments to such trust instruments shall be filed with the commissioner.    For each deposit with a trustee, the contract seller shall make a record of, and provide the trustee with, the name and address of the contract buyer, the total preneed contract price, and the amount of trustable funds. The contract seller shall keep such record, as to each contract buyer, until five years following the earlier of:   The death of the preneed contract beneficiary; or    The removal of funds from trust.       Within thirty days following the last day of the calendar quarter, the contract seller shall provide to the trustee a detailed listing of all preneed contracts outstanding, the name and address of each contract buyer, the total preneed contract price, accumulated receipts, and the total amount of funds trusted for each preneed contract. If the trustee finds a significant discrepancy between such cumulative listing and the aggregate deposits in trust, the trustee shall contact the contract seller in order to reconcile the discrepancy. If the trustee is unable to resolve such discrepancy to the trustee's satisfaction, the trustee shall promptly notify the commissioner in writing of such discrepancy.     History. Source: L. 95: Entire article R&RE, p. 1041, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-107 as it existed prior to 1995.
CO Code § 10-15-108 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-108. Standard for Investments by Trustees

  Savings and loan associations acting as trustees under the terms of this article shall invest trust funds as otherwise authorized under the laws of this state relating to the investment of funds by savings and loan associations and the federal law governing such investments, but savings and loan associations shall accept trust funds only to the extent that the full amount thereof is insured by the federal deposit insurance corporation or its successor.    Banks and trust companies acting as trustees under the terms of this article shall be subject to the following investment standards: In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing property for the benefit of others, trustees shall be required to have in mind the responsibilities which are attached to such offices and the size, nature, and needs of the estates entrusted to their care and shall exercise the judgment and care under the circumstances then prevailing which men of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. Within the limitations of the standards set forth in this subsection (2), trustees are authorized to acquire and retain every kind of property, real, personal, and mixed, and every kind of investment, specifically including, but not by way of limitation, bonds, debentures, and other corporate obligations, savings accounts in insured savings and loan associations, stocks, preferred or common, securities of any open-end or closed-end management type investment company or investment trust, and participations in common trust funds, which men of prudence, discretion, and intelligence would acquire or retain for their own account.    Credit unions acting as trustees under the terms of this article shall invest funds received under an account agreement as authorized under the laws of this state or the United States relating to the investment of funds by credit unions, but a credit union shall accept trust funds only to the extent that the full amount thereof is insured by the national credit union share insurance fund or other insurer approved by the commissioner of financial services.     History. Source: L. 95: Entire article R&RE, p. 1041, § 1, effective May 25. L. 2004: (1) amended, p. 148, § 52, effective July 1.    Editor's note:   This section is similar to former § 10-15-108 as it existed prior to 1995.
CO Code § 10-15-109 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-109. Disbursements - Excess Trust Assets

 At reasonable times, and unless the trustee is notified by the commissioner that the preneed seller is in violation of the provisions of this article or by the contract seller not to disburse trust assets, the trustee shall disburse excess trust assets to the contract seller in accordance with the terms of the preneed contract between the contract buyer and the contract seller. The trustee shall not disburse any excess trust assets until such time as the value of such trust assets exceeds the total of all funds paid by the contract buyers under the preneed contracts. If more than one trust account is used by the contract seller, the aggregate of all trust accounts must exceed the total of all funds paid by all contract buyers before any disbursement by the trustee. It is the obligation and responsibility of the trustee to conduct at least annual valuations of the market value of the assets held in trust, which may include accrued interest.   History. Source: L. 95: Entire article R&RE, p. 1042, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-109 as it existed prior to 1995.
CO Code § 10-15-110 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-110. Discharge of Preneed Contract - Disbursements by Trustees

  Before disbursing any trust assets to discharge a preneed contract, the trustee shall determine that the amount of assets to be released does not exceed the funds trusted.    If a preneed contract is canceled by the contract buyer or the contract buyer's heirs, assigns, or duly authorized representatives, the trustee shall require a copy of the signed cancellation request before releasing trust assets.    If a preneed contract is canceled by the contract seller due to a default by the contract buyer, the trustee shall require an affidavit from an officer or owner of the contract seller setting forth such default before releasing funds.    If a preneed contract is performed by the contract seller, the trustee shall require an affidavit from an officer or owner of the contract seller setting forth such performance before releasing funds.     History. Source: L. 95: Entire article R&RE, p. 1042, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-110 as it existed prior to 1995.
CO Code § 10-15-111 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-111. Insurance-Funded Preneed Contracts

  If a contract seller enters into a preneed contract in which the consideration is the assignment of life insurance benefits, such preneed contract shall state that all or part of such assigned funds shall be paid to the contract seller to pay for the services or merchandise, or both, included in the preneed contract. The preneed contract and the assignment shall identify the policy being assigned including the name of the issuing company. The initial benefit assigned shall not exceed the preneed contract price when the assignment is executed. The purchaser of any insurance policy to be assigned under a preneed contract must have an insurable interest in the life of the preneed contract beneficiary.    If the value of the assignment exceeds the price of the preneed contract services or merchandise, or both, at the time of the death of the preneed contract beneficiary, based on the general provider's general price list in force in accordance with the regulations of the federal trade commission, the excess amounts shall be paid to the beneficiary under the policy or, if none, to the estate of the preneed contract beneficiary.     History. Source: L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-111 as it existed prior to 1995.
CO Code § 10-15-112 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-112. Rules

 The commissioner may, after notice and hearing as provided in article 4 of title 24, C.R.S., promulgate such rules as may be reasonably necessary for the effective administration of and not inconsistent with the provisions of this article.   History. Source: L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-112 as it existed prior to 1995.
CO Code § 10-15-113 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-113. Applicability of Administrative Procedure Act

 All procedures for the issuance, suspension, or revocation of licenses shall be pursuant to sections 24-4-104 to 24-4-107 , C.R.S., except where inconsistent with the provisions of this article. Any final action with respect to the issuance, suspension, or revocation of licenses shall be subject to judicial review by the court of appeals pursuant to section 24-4-106 (11) , C.R.S.   History. Source: L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-113 as it existed prior to 1995.
CO Code § 10-15-114 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 15 - Preneed Funeral Contracts|§ 10-15-114. Investigations - Actions Against Licensees

  The commissioner may impose an administrative fine not to exceed one thousand dollars for each separate offense; may issue a letter of admonition; may place a contract seller on probation under the commissioner's close supervision on such terms and for such time as the commissioner deems appropriate; and may refuse to renew, may revoke, or may suspend the license of any contract seller if, after an investigation and after notice and a hearing pursuant to the provision of section 24-4-104, C.R.S., the commissioner determines that the contract seller has:   Failed to comply with or has violated any provision of this article or any regulation or order lawfully made pursuant to and within the authority of this article; or    Used false or misleading advertising or made any false or misleading statement or concealment in the contract seller's application for licensure; or    Employed any device, scheme, or artifice which results in defrauding a contract buyer; or    Disposed of, concealed, diverted, converted, or otherwise failed to account for any funds or assets of any contract buyer which are subject to regulation pursuant to this article; or    Committed any act that constitutes a violation of the “Colorado Consumer Protection Act”, article 1 of title 6, C.R.S.; or    Been convicted of, or any officer, director, or controlling shareholder has been convicted of, a crime involving fraud or misappropriation or misuse of funds; or    Failed to provide appropriate records requested by the commissioner as part of an investigation of a complaint filed with the commissioner.        History. Source: L. 95: Entire article R&RE, p. 1043, § 1, effective May 25.    Editor's note:   This section is similar to former § 10-15-114 as it existed prior to 1995.   ANNOTATION   Three-month suspension was not an abuse of discretion by the division where the seller of insurance-funded pre-need funeral contracts engaged in selling such contracts on forms not approved by the division, continued to sell such contract after being advised by the division that such contracts were not approved, and failed to specify in the contracts the purchase price for funeral goods and services, all of which violate statutory provisions governing the sale of pre-need funeral contracts. Guardian Plans v. Div. of Insurance, 793 P.2d 615 (Colo. App. 1990).   Division was not equitably estopped from suspending license of pre-need funeral contract seller who engaged in selling insurance-funded pre-need contracts in violation of statutes governing the sale of such contracts. Even though the division initially approved such contracts, it did so without sufficient information to render knowing approval of the seller's operation for selling life insurance or annuity funded contracts, and reliance by the seller on the division's action was, therefore, not reasonable. Guardian Plans v. Div. of Insurance, 793 P.2d 615 (Colo. App. 1990).