reglab/housing_qa huggingface dataset:
CO Code § 10-3-811 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 8 - Insurance Holding Company Systems|§ 10-3-811. Criminal Proceedings - Civil Penalties - Definition

  Whenever it appears to the commissioner that an insurer or a director, officer, employee, or agent thereof has committed a willful violation of this part 8, the commissioner may cause criminal proceedings to be instituted in the district court for the county in which the principal office of the insurer is located or, if such insurer has no such office in this state, in the district court for the city and county of Denver against such insurer or the insurer's responsible director, officer, employee, or agent. An insurer or individual that willfully violates this part 8 commits a class 6 felony and shall be punished as provided in section 18-1.3-401, C.R.S.      An insurer or an insurer's director, officer, employee, or agent that fails, without just cause, to file any registration statement, amendment, or notice of shareholder distribution as required in this part 8 may be required, after notice and hearing, to pay a civil penalty of not more than five thousand dollars for each violation. Each violation is a separate offense. The commissioner shall issue an order setting forth the amount of the civil penalty, which amount must be based on the alleged violator's history of previous violations, the good faith of the alleged violator in attempting to achieve rapid compliance after notification of the violation, the gravity and willfulness of the violation, the potential deterrent effect of the civil penalty, and such other considerations as may be specified by the commissioner. The commissioner may compromise, mitigate, or remit any such civil penalty.    For purposes of this subsection (2), “civil penalty” means any monetary penalty levied against an insurer or an insurer's director, officer, employee, or agent because of a violation of this part 8. “Civil penalty” does not include any criminal penalty levied under subsection (1) of this section.    The commissioner shall transmit all civil penalties collected pursuant to this subsection (2) to the state treasurer, who shall credit them to the general fund.         History. Source: L. 2014: Entire part R&RE,(SB 14-152), ch. 312, p. 1351, § 2, effective July 1.    Editor's note:   This section is similar to former § 10-3-810 as it existed prior to 2014.
CO Code § 10-3-812 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 8 - Insurance Holding Company Systems|§ 10-3-812. Receivership

 Whenever it appears to the commissioner that any person has committed a violation of this part 8 that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the commissioner may proceed as provided in part 4 or 5 of this article.   History. Source: L. 2014: Entire part R&RE,(SB 14-152), ch. 312, p. 1352, § 2, effective July 1.    Editor's note:   This section is similar to former § 10-3-811 as it existed prior to 2014.
CO Code § 10-3-813 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 8 - Insurance Holding Company Systems|§ 10-3-813. Revocation, Suspension, or Nonrenewal of Insurer's License

 Whenever it appears to the commissioner that a person has committed a violation of this part 8 that makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportunity to be heard, suspend, revoke, or refuse to renew the insurer's license or authority to do business in this state for such period as the commissioner finds is required for the protection of policyholders or the public. The determination must be accompanied by specific findings of fact and conclusions of law.   History. Source: L. 2014: Entire part R&RE,(SB 14-152), ch. 312, p. 1352, § 2, effective July 1.    Editor's note:   This section is similar to former § 10-3-812 as it existed prior to 2014.
CO Code § 10-3-814 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 8 - Insurance Holding Company Systems|§ 10-3-814. Judicial Review - Mandamus

  A person aggrieved by an act, determination, rule, order, or other action of the commissioner pursuant to this part 8 may appeal the action to the district court for the city and county of Denver. The court shall conduct its review without a jury and by trial de novo; except that, if all parties, including the commissioner, so stipulate, the review shall be confined to the record. Portions of the record may be introduced by stipulation into evidence in a trial de novo as to those parties so stipulating.    The filing of an appeal pursuant to this section stays the application of the act, rule, order, or other action of the commissioner to the appealing party unless the court, after giving the parties notice and an opportunity to be heard, determines that a stay would be detrimental to the interests of policyholders, shareholders, creditors, or the public.    A person aggrieved by a failure of the commissioner to act or make a determination required by this part 8 may petition the district court for the city and county of Denver for an action in the nature of a mandamus or a peremptory mandamus directing the commissioner to act or make such determination forthwith.     History. Source: L. 2014: Entire part R&RE,(SB 14-152), ch. 312, p. 1352, § 2, effective July 1.    Editor's note:   This section is similar to former § 10-3-813 as it existed prior to 2014.
CO Code § 10-3-815 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 8 - Insurance Holding Company Systems|§ 10-3-815. Recovery of Distributions or Payments

  Subject to the limitations of this section, where a distribution or payment pursuant to paragraph   or (b) of this subsection (1) is made at any time during the one year preceding a petition for liquidation, conservation, or rehabilitation, as the case may be, if an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order may recover on behalf of the insurer:    Any payment in the form of a bonus, termination settlement, or extraordinary lump sum salary adjustment made by the insurer or its subsidiary to a director, officer, or employee.       A distribution is not recoverable if the parent or affiliate shows that, when paid, the distribution was lawful and reasonable and that the insurer did not know and could not reasonably have known that the distribution might adversely affect the ability of the insurer to fulfill its contractual obligations.    A person who was a parent corporation or holding company or a person who otherwise controlled the insurer or affiliate at the time the distributions were paid is liable up to the amount of distributions or payments under subsection (1) of this section that the person received. A person who otherwise controlled the insurer at the time the distributions were declared is liable up to the amount of distributions that would have been received if they had been paid immediately. If two or more persons are liable with respect to the same distributions, they are jointly and severally liable.    The maximum amount recoverable under this section is the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay the contractual obligations of the impaired or insolvent insurer and to reimburse the Colorado insurance guaranty association, as that term is defined in section 10-3-502 (9).    To the extent that a person liable under subsection (3) of this section is insolvent or otherwise fails to pay claims due from it, its parent corporation, holding company, or a person who otherwise controlled it at the time the distribution was paid is jointly and severally liable for any resulting deficiency in the amount recovered from the parent corporation, holding company, or person who otherwise controlled it.     (a) From any parent corporation or holding company or person or affiliate who otherwise controlled the insurer, the amount of distributions other than distributions of shares of the same class of stock paid by the insurer on its capital stock; or   History. Source: L. 2014: Entire part R&RE,(SB 14-152), ch. 312, p. 1353, § 2, effective July 1.    Editor's note:   This section is similar to former § 10-3-814 as it existed prior to 2014.
CO Code § 10-3-816 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 8 - Insurance Holding Company Systems|§ 10-3-816. Conflict With Other Laws

 All laws and parts of laws of this state inconsistent with this part 8 are hereby superseded with respect to matters covered by this part 8.   History. Source: L. 2014: Entire part R&RE,(SB 14-152), ch. 312, p. 1354, § 2, effective July 1.
CO Code § 10-3-901 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-901. Short Title

 This part 9 shall be known and may be cited as the “Regulation of Unauthorized Insurance Act”.   History. Source: L. 67: P. 873, § 10. C.R.S. 1963: § 72-25-10. History. Source: L. 67: P. 873, § 10. C.R.S. 1963: § 72-25-10.
CO Code § 10-3-902 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-902. Legislative Declaration

 The purpose of this part 9 is to subject certain persons and insurers to the jurisdiction of the commissioner, of proceedings before the commissioner, and of the courts of this state in suits. The general assembly declares that it is a subject of concern that many residents of this state hold policies of insurance issued by persons and insurers not authorized to do insurance business in this state, thus presenting to such residents the often insuperable obstacle of asserting their legal rights under such policies in forums foreign to them under laws and rules of practice with which they are not familiar and are deprived of the benefit of Colorado laws regulating insurance. The general assembly declares that it is also concerned with the protection of residents of this state against acts by persons and insurers not authorized to do an insurance business in this state by the maintenance of fair and honest insurance markets; by protecting the premium tax revenues of this state; by protecting authorized persons and insurers, which are subject to strict regulation, from unfair competition by unauthorized persons and insurers; and by protecting against the evasion of the insurance regulatory laws of this state. In furtherance of such state interest, the general assembly in this part 9 exercises its power to protect residents of this state and to define what constitutes transacting insurance business in this state.   History. Source: L. 67: P. 868, § 1. C.R.S. 1963: § 72-25-1. History. Source: L. 67: P. 868, § 1. C.R.S. 1963: § 72-25-1.
CO Code § 10-3-904 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-904. Commissioner May Enjoin Unauthorized Company

 Whenever the commissioner of insurance believes, from evidence satisfactory to him, that any foreign or alien company is violating the provisions of section 10-3-105 and this part 9, the commissioner may, through the attorney general of this state, cause a complaint to be filed in the district court in and for the city and county of Denver to enjoin and restrain such company from continuing such violation or engaging therein or doing any act in furtherance thereof. The court has jurisdiction of the proceeding and has the power to make and enter an order or judgment awarding such preliminary or final injunctive relief as in its judgment is proper.   History. Source: L. 67: P. 869, § 3. C.R.S. 1963: § 72-25-3. History. Source: L. 67: P. 869, § 3. C.R.S. 1963: § 72-25-3.    ANNOTATION   Claims asserted against the state attorney general must be dismissed where the ground for the claim is that she is charged under Colorado law with enforcing Colorado's statutory provisions governing the business of insurance, including the enforcement of workers' compensation statutes, when in fact she is not responsible for enforcing either insurance or workers' compensation laws and may become involved in prosecuting related matters only at the request of the commissioner of insurance or the director of workers' compensation. Fuller v. Norton, 881 F. Supp. 468 (D. Colo. 1995 ).
CO Code § 10-3-904.5 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-904.5. Emergency Cease-and-Desist Orders - Issuance

  The commissioner may issue an emergency cease-and-desist order ex parte if:   The commissioner believes that an unauthorized person is engaging in the business of insurance in violation of the provisions of section 10-3-105 or 10-3-903 or is in violation of a rule promulgated by the commissioner; and    It appears to the commissioner that the alleged conduct is fraudulent, creates an immediate danger to the public safety, or is causing or can be reasonably expected to cause significant, imminent, and irreparable public injury.       For purposes of subsection (1) of this section, “unauthorized person” means any individual, corporation, association, partnership, or other natural or artificial person that directly or indirectly engages in the transaction of insurance business as described in section 10-3-903, except as such business may be engaged in in accordance with specific authorization in this title.    Upon making a determination under subsection (1) of this section that an emergency cease-and-desist order should be issued, the commissioner shall serve on the person who is the subject of the order, by registered or certified mail, return receipt requested, at such person's last known address, an order that contains a statement of the charges and requires such person to immediately cease and desist from the acts, methods, or practices stated in the order.    The division of insurance shall promulgate reasonable rules necessary to carry out the provisions of this section and sections 10-3-904.6 and 10-3-904.7. Such rules shall include, to the extent possible, provisions requiring uniformity with respect to the procedures of this state and other states, the United States, and the national association of insurance commissioners.     History. Source: L. 93: Entire section added, p. 334, § 1, effective July 1.
CO Code § 10-3-904.7 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-904.7. Failure to Pay Penalties or Restitution

  If a person fails to pay a penalty or make complete restitution as directed by the commissioner under section 10-3-904.6 (5)(a) or (5)(b), the commissioner may:   Refer the matter to the attorney general for enforcement; or    Cancel or revoke any permit, license, certificate of authority, certificate, registration, or other authorization issued to such person.        History. Source: L. 93: Entire section added, p. 334, § 1, effective July 1.
CO Code § 10-3-906 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-906. Validity of Insurance Contracts - Liability Under Insurance Contract

  The failure of a company transacting insurance business in Colorado to obtain a certificate of authority shall not impair the validity of any act or contract of such company and shall not prevent such company from defending any action in any court of this state.    In event of failure of any such unauthorized insurer to pay any claim or loss within the provisions of such insurance contract, any person who assisted or in any manner aided directly or indirectly in the procurement of such insurance contract is also liable to the insured for the full amount of the claim or loss in the manner provided by the provisions of such insurance contract.     History. Source: L. 67: P. 870, § 5. C.R.S. 1963: § 72-25-5. History. Source: L. 67: P. 870, § 5. C.R.S. 1963: § 72-25-5.
CO Code § 10-3-907 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-907. Investigation and Disclosure of Insurance Contracts

  Whenever the commissioner has reason to believe that insurance has been effectuated by or for any person in this state with an unauthorized insurer, the commissioner shall in writing order such person to produce for examination all insurance contracts and other documents evidencing insurance with both authorized and unauthorized insurers and to disclose to the commissioner the amount of insurance, name and address of each insurer, gross amount of premium paid or to be paid, and the name and address of the person assisting or aiding in the solicitation, negotiation, or effectuation of such insurance.    Every person who, for thirty days after such written order pursuant to subsection (1) of this section, neglects to comply with the requirements of such order or who willfully makes a disclosure that is untrue, deceptive, or misleading shall forfeit fifty dollars, and an additional fifty dollars for each day of neglect after expiration of said thirty days.     History. Source: L. 67: P. 871, § 6. C.R.S. 1963: § 72-25-6. History. Source: L. 67: P. 871, § 6. C.R.S. 1963: § 72-25-6.
CO Code § 10-3-908 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-908. Reporting of Unauthorized Insurance

  Every person investigating or adjusting any loss or claim on a subject of insurance in this state shall immediately report to the commissioner every insurance policy or contract which has been entered into by any insurer not authorized to transact such insurance business in this state.    Every person acting in the capacity of insurance adviser, counselor, or analyst shall report to the commissioner every insurance policy or contract covering a subject of insurance in this state which has been entered into by an insurer not authorized to transact such insurance business in this state.    This section does not apply to transactions in this state involving a policy lawfully solicited, written, and delivered outside of this state covering only subjects of insurance not resident, located, or expressly to be performed in this state at the time of issuance, and which transactions are subsequent to the issuance of such policy.     History. Source: L. 67: P. 871, § 7. C.R.S. 1963: § 72-25-7. History. Source: L. 67: P. 871, § 7. C.R.S. 1963: § 72-25-7.
CO Code § 10-3-909 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 9 - Unauthorized Insurance|§ 10-3-909. Unauthorized Insurance Premium Tax

  Except as to premiums that are subject to a federal premium, excise, or stamp tax equal to or in excess of two and one-fourth percent of net premiums, and except as to premiums on independently procured insurance on which tax has been paid pursuant to section 10-3-209, 10-5-111, or .5, every insured under a contract procured from an unauthorized insurer shall pay to the division of insurance before March 1 next succeeding the calendar year in which the insurance was so effectuated, continued, or renewed a premium tax of two and one-quarter percent of net premiums charged for the insurance. Such insurance on subjects resident, located, or to be performed in this state procured through negotiations or an application, in whole or in part occurring or made within or from within or outside of this state, or for which premiums in whole or in part are remitted directly or indirectly from within or outside of this state, is deemed to be insurance procured, continued, or renewed in this state. The term “premium” includes all premiums, membership fees, assessments, dues, and any other consideration for insurance. If the tax prescribed by this section is not paid within the time stated, the tax is increased by a penalty of twenty-five percent and by the amount of an additional penalty computed at the rate of one percent per month or any part thereof from the date the payment was due to the date paid.    If a policy covers risks or exposures only partially in this state, the tax payable shall be computed on the portions of the premium which are properly allocable to the risks or exposures located in this state.    Proration of premium taxes due from an industrial insured under a contract procured from an unauthorized insurer having property in states other than Colorado shall be determined by rules and regulations promulgated by the commissioner using the following criteria where applicable:   Percentage of physical assets in Colorado;    Percentage of employee payroll in Colorado;    Percentage of sales in Colorado;    Percentage of taxable income reportable in Colorado.        History. Source: L. 67: P. 871, § 8. C.R.S. 1963: § 72-25-8. L. 2012: (1) amended,(HB 12-1215), ch. 104, p. 354, § 6, effective August 8. History. Source: L. 67: P. 871, § 8. C.R.S. 1963: § 72-25-8. L. 2012: (1) amended,(HB 12-1215), ch. 104, p. 354, § 6, effective August 8.
CO Code § 10-3-1001 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 10 - Unauthorized Insurers Process Act|§ 10-3-1001. Short Title

 This part 10 shall be known and may be cited as the “Unauthorized Insurers Process Act”.   History. Source: L. 55: P. 478, § 6. CRS 53: § 72-19-5. C.R.S. 1963: § 72-18-5. History. Source: L. 55: P. 478, § 6. CRS 53: § 72-19-5. C.R.S. 1963: § 72-18-5.
CO Code § 10-3-1002 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 10 - Unauthorized Insurers Process Act|§ 10-3-1002. Legislative Declaration

 The purpose of this part 10 is to subject certain insurers to the jurisdiction of courts of this state in suits by or on behalf of insureds or beneficiaries under insurance contracts. The general assembly declares that it is a subject of concern that many residents of this state hold policies of insurance issued or delivered in this state by insurers while not authorized to do business in this state, thus presenting to such residents the often insuperable obstacle of resorting to distant forums for the purpose of asserting legal rights under such policies. In furtherance of such state interest, the general assembly provides in this part 10 a method of substituted service of process upon such insurers and declares that in so doing it exercises its power to protect its residents and to define, for the purpose of this part 10, what constitutes doing business in this state, and also exercises powers and privileges available to the state by virtue of Public Law 15, 79th Congress of the United States, Chapter 20, 1st Sess., S. 340, as amended, which declares that the business of insurance and every person engaged therein shall be subject to the laws of the several states.   History. Source: L. 55: P. 475, § 1. CRS 53: § 72-19-1. C.R.S. 1963: § 72-18-1. History. Source: L. 55: P. 475, § 1. CRS 53: § 72-19-1. C.R.S. 1963: § 72-18-1.