reglab/housing_qa huggingface dataset:
CO Code § 10-3-503 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-503. Persons Covered

  The proceedings authorized by this part 5 may be applied to:   All insurers who are doing, or have done, an insurance business in this state and against whom claims arising from that business may exist now or in the future;    All insurers who purport to do an insurance business in this state;    All insurers who have insureds resident in this state;    All other persons organized or in the process of organizing with the intent to do an insurance business in this state;    All fraternal benefit societies and beneficial societies subject to article 14 of this title;    All title insurance companies subject to the “Title Insurance Code of Colorado”, article 11 of this title;    All health-care plans subject to parts 1, 4, and 5 of article 16 of this title 10; and    All employers' self-insurance pools created pursuant to section 8-44-205, C.R.S.        History. Source: L. 92: Entire part R&RE, p. 1431, § 14, effective July 1. L. 2020: (1)(g) amended,(HB 20-1402), ch. 216, p. 1042, § 10, effective June 30.    ANNOTATION   Subsection (1)(a) applies to a risk retention group. The risk retention group provides liability insurance to its policyholders and thus is in the insurance business. Garrou v. Shovelton, 2019 COA 15 M, 439 P.3d 65.
CO Code § 10-3-504.5 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-504.5. Application for Receivership

 [ ] No application or proceeding for a receivership of any domestic insurance company shall be made in any court in this state by any person, nor shall any court receive or entertain any such application or proceeding, unless and until such application is approved by the commissioner, and then such application shall be made only by the attorney general of the state. The commissioner shall not give said approval until after the examination and hearing by the commissioner and the attorney general, which shall not be made public, at which the company affected shall be given ample opportunity to submit the facts as to its condition. Any person who violates any provisions of this section is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not less than one thousand dollars, or by imprisonment in the county jail for not less than one month nor more than one year, or by both such fine and imprisonment.  Editor's note: This version of this section is effective until March 1, 2022.  History. Source: L. 92: Entire part R&RE, p. 1433, § 14, effective July 1. L. 2021: Entire section amended,(SB 21-271), ch. 462, p. 3148, § 114, effective March 1, 2022.    Editor's note:    This section is similar to former § 10-3-503 as it existed prior to 1992.    Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.
CO Code § 10-3-504.5 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-504.5. Application for Receivership

 [ ] No application or proceeding for a receivership of any domestic insurance company shall be made in any court in this state by any person, nor shall any court receive or entertain any such application or proceeding, unless and until such application is approved by the commissioner, and then such application shall be made only by the attorney general of the state. The commissioner shall not give said approval until after the examination and hearing by the commissioner and the attorney general, which shall not be made public, at which the company affected shall be given ample opportunity to submit the facts as to its condition. Any person who violates any provisions of this section commits a class 2 misdemeanor.  Editor's note: This version of this section is effective March 1, 2022.  History. Source: L. 92: Entire part R&RE, p. 1433, § 14, effective July 1. L. 2021: Entire section amended,(SB 21-271), ch. 462, p. 3148, § 114, effective March 1, 2022.
CO Code § 10-3-506 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-506. Cooperation of Officers, Owners, and Employees

  Any officer, manager, director, trustee, owner, employee, or agent of any insurer, or any other person with authority over or in charge of any segment of the insurer's affairs, shall cooperate with the commissioner in any proceeding under this part 5 or any investigation preliminary to the proceeding. The term “person” as used in this section shall include any person who exercises control directly or indirectly over activities of the insurer through any holding company or other affiliate of the insurer. “To cooperate” shall include, but shall not be limited to, the following:   To reply promptly in writing to any inquiry from the commissioner requesting such a reply; and    To make available to the commissioner any books, accounts, documents, or other records or information or property of or pertaining to the insurer and in the person's possession, custody, or control.       No person shall obstruct or interfere with the commissioner in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto.    This section shall not be construed to abridge otherwise existing legal rights, including the right to resist a petition for liquidation or other delinquency proceedings or other orders.    Any person included within subsection (1) of this section who fails to cooperate with the commissioner, or any person who obstructs or interferes with the commissioner in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto, or who violates any valid order of the commissioner issued pursuant to this part 5 may:   Be subject to a fine not to exceed ten thousand dollars or to imprisonment for a term of not more than one year, or both; or    After a hearing, be subject to the imposition by the commissioner of a civil penalty not to exceed ten thousand dollars or to the revocation or suspension of any insurance licenses issued by the commissioner, or to both such civil penalty and such revocation or suspension.        History. Source: L. 92: Entire part R&RE, p. 1434, § 14, effective July 1.    ANNOTATION   Applied in Insurance Affiliates, Inc. v. O'Connor, 522 F. Supp. 703 (D. Colo. 1981 ).
CO Code § 10-3-507 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-507. Continuation of Delinquency Proceedings

 Every proceeding commenced prior to July 1, 1992, shall be deemed to have been commenced under this part 5 for the purpose of conducting the proceeding thereafter; except that, in the discretion of the commissioner, the proceeding may be continued, in whole or in part, as it would have been continued had this part 5 not been enacted.   History. Source: L. 92: Entire part R&RE, p. 1435, § 14, effective July 1.    ANNOTATION   Trial court did not err in determining that the receiver must consider and pay the claim from an out of state insurance guarantee association. Generally the association would have subrogation rights against a receiver of an insolvent insurer and the receiver would be obligated to reimburse the association. The association's settlement of the claimants' claims and payments to them entitled the association to subrogation rights of those claimants. Stephens v. Colaianna, 942 P.2d 1374 (Colo. App. 1997).   Applied in H.M.O. Sys. v. Choicecare Health Servs., Inc., 665 P.2d 635 (Colo. App. 1983).
CO Code § 10-3-508 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-508. Condition on Release From Delinquency Proceedings

  No insurer subject to any delinquency proceedings, whether formal, informal, administrative, or judicial, shall:   Be released from such proceeding, unless such proceeding is converted into a judicial rehabilitation or liquidation proceeding;    Be permitted to solicit or accept new business or request or accept the restoration of any suspended or revoked license or certificate of authority;    Be returned to the control of its shareholders or private management; or    Have any of its assets returned to the control of its shareholders or private management until all payments of or on account of the insurer's contractual obligations by all guaranty associations, along with all expenses thereof and interest on all such payments and expenses, shall have been repaid to the guaranty associations or a plan of repayment by the insurer shall have been approved by the guaranty association.        History. Source: L. 92: Entire part R&RE, p. 1435, § 14, effective July 1.
CO Code § 10-3-510 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-510. Confidentiality of Hearings

 In all proceedings and judicial reviews thereof under section 10-3-509 , all records of the insurer, other documents, and all division files and court records and papers, so far as they pertain to or are a part of the record of the proceedings, shall be and remain confidential except as is necessary to obtain compliance therewith, unless and until the court, after hearing arguments from the parties in chambers, shall order otherwise or unless the insurer requests that the matter be made public. Until such court order, all papers filed with the clerk of the court shall be held in a confidential file.   History. Source: L. 92: Entire part R&RE, p. 1437, § 14, effective July 1.
CO Code § 10-3-512 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-512. Rehabilitation Orders

  An order to rehabilitate the business of a domestic insurer or an alien insurer domiciled in this state shall appoint the commissioner as the rehabilitator and shall direct the rehabilitator forthwith to take possession of the assets of the insurer and to administer such assets under the general supervision of the court. The filing or recording of the order with the clerk of the district court in and for the city and county of Denver or with the recorder of deeds of the county in which the principal business of the company is conducted or the county in which its principal office or place of business is located shall impart the same notice as would be imparted by a deed, bill of sale, or other evidence of title duly filed or recorded with such recorder of deeds. The order to rehabilitate the insurer shall by operation of law vest title to all assets of the insurer in the rehabilitator.    Any order issued under this section shall require accounting to the court by the rehabilitator. Accounting shall be at such intervals as the court specifies in its order, but no less frequently than semiannually. Each accounting shall include a report concerning the rehabilitator's opinion as to the likelihood that a plan under section 10-3-513 (4) will be prepared by the rehabilitator and the timetable for doing so.    Entry of an order of rehabilitation shall not constitute an anticipatory breach of any contract of the insurer, nor shall it be a basis for retroactive revocation or retroactive cancellation of any contract of the insurer, unless such revocation or cancellation is done by the rehabilitator pursuant to section 10-3-513.     History. Source: L. 92: Entire part R&RE, p. 1439, § 14, effective July 1.
CO Code § 10-3-514 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-514. Actions by and Against Rehabilitator

  Any court in this state before which any action or proceeding in which the insurer is a party, or is obligated to defend a party, is pending when a rehabilitation order against the insurer is entered shall stay the action or proceeding for a minimum of ninety days and for such additional time as is necessary for the rehabilitator to obtain proper representation and prepare for further proceedings. The rehabilitator shall take such action respecting the pending litigation as the rehabilitator deems necessary in the interests of justice and for the protection of creditors, policyholders, and the public. The rehabilitator shall immediately consider all litigation pending outside this state and shall petition the courts having jurisdiction over that litigation for stays whenever necessary to protect the estate of the insurer.    No statute of limitations or defense of laches shall run with respect to any action by or against an insurer between the filing of a petition for appointment of a rehabilitator for that insurer and the order granting or denying that petition. Any action against the insurer that might have been commenced when the petition was filed may be commenced within a period of not less than sixty days after the order of rehabilitation is entered or the petition is denied. The rehabilitator may, upon an order for rehabilitation, within one year or such other longer time as applicable law may permit, institute an action or proceeding on behalf of the insurer upon any cause of action against which the period of limitation fixed by applicable law had not expired at the time of the filing of the petition upon which such order is entered.    Any guaranty association or foreign guaranty association covering life or health insurance or annuities shall have standing to appear in any court proceeding concerning the rehabilitation of a life or health insurer if such association is or may become liable to act as a result of the rehabilitation.    Notwithstanding subsection (1) of this section and any other provision of this title, a federal home loan bank shall not be stayed, enjoined, or prohibited from exercising or enforcing any right or cause of action regarding collateral pledged under a security agreement or under any pledge agreement, security agreement, collateral agreement, guarantee agreement, or other similar arrangement or credit enhancement relating to a security agreement to which the federal home loan bank is a party.     History. Source: L. 92: Entire part R&RE, p. 1441, § 14, effective July 1. L. 2014: (4) added,(HB 14-1215), ch. 57, p. 257, § 3, effective March 21.
CO Code § 10-3-515 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-515. Termination of Rehabilitation

  Whenever the commissioner believes further attempts to rehabilitate an insurer would substantially increase the risk of loss to creditors, policyholders, or the public, or would be futile, the commissioner may petition the district court in and for the city and county of Denver for an order of liquidation. A petition under this subsection (1) shall have the same effect as a petition under section 10-3-516. The court shall permit the directors of the insurer to take such actions as are reasonably necessary to defend against the petition and may order payment from the estate of the insurer of such costs and other expenses of defense as justice may require.    The protection of the interests of insureds, claimants, and the public requires the timely performance of all insurance policy obligations. If the payment of an insurer's policy obligations is suspended in substantial part for a period of six months at any time after the appointment of the rehabilitator and the rehabilitator has not filed an application for approval of a plan under section 10-3-513 (5), the rehabilitator shall petition the court for an order of liquidation on grounds of insolvency.    The rehabilitator may at any time petition the district court in and for the city and county of Denver for an order terminating rehabilitation of an insurer. The court shall also permit the directors of the insurer to petition the court for an order terminating rehabilitation of the insurer and may order payment from the estate of the insurer of such costs and other expenses of such petition as justice may require. If the court finds that rehabilitation has been accomplished and that grounds for rehabilitation under section 10-3-511 no longer exist, it shall order that the insurer be restored to possession of its property and the control of the business. The court may also make such a finding and issue such an order at any time upon its own motion.     History. Source: L. 92: Entire part R&RE, p. 1445, § 14, effective July 1.
CO Code § 10-3-516 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-516. Grounds for Liquidation

  The commissioner may petition the district court in and for the city and county of Denver for an order directing the commissioner to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis:   Of any ground for an order of rehabilitation as specified in section 10-3-511, whether or not there has been a prior order directing the rehabilitation of the insurer;    That the insurer is insolvent; or    That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.        History. Source: L. 92: Entire part R&RE, p. 1446, § 14, effective July 1.
CO Code § 10-3-518 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-518. Continuation of Coverage

  All policies, including bonds and other noncancellable business but not including life or health insurance or annuities, in effect at the time of issuance of an order of liquidation shall continue in force only for the lesser of:   A period of thirty days from the date of entry of the liquidation order;    The expiration of the policy coverage;    The date when the insured has replaced the insurance coverage with equivalent insurance in another insurer or otherwise terminated the policy;    The effective date of a transfer of the policy obligation by the liquidator pursuant to section 10-3-520 (1)(i); or    The date proposed by the liquidator and approved by the court to cancel coverage.       An order of liquidation under section 10-3-517 shall terminate coverages at the time specified in subsection (1) of this section for purposes of any other statute.    Policies of life or health insurance or annuities shall continue in force for such period and under such terms as is provided for by any applicable guaranty association or foreign guaranty association.    Policies of life or health insurance or annuities or any period or coverage of such policies not covered by a guaranty association or foreign guaranty association shall terminate under subsections (1) and (2) of this section.     History. Source: L. 92: Entire part R&RE, p. 1448, § 14, effective July 1.
CO Code § 10-3-519 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-519. Dissolution of Insurer

 The commissioner may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer domiciled in this state at the time the commissioner applies for a liquidation order. The court shall order dissolution of the corporation upon petition by the commissioner upon or after the granting of a liquidation order. If the dissolution has not previously been ordered, it shall be effected by operation of law upon the discharge of the liquidator if the insurer is insolvent but may be ordered by the court upon the discharge of the liquidator if the insurer is under a liquidation order for some other reason.   History. Source: L. 92: Entire part R&RE, p. 1449, § 14, effective July 1.
CO Code § 10-3-521 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 3 - Regulation of Insurance Companies|Part 5 - Insurers' Rehabilitation and Liquidation|§ 10-3-521. Notice to Creditors and Others

  Unless the court otherwise directs, the liquidator shall give or cause to be given notice of the liquidation order as soon as possible:   By first class mail and either by telegram or telephone to the insurance department of each jurisdiction in which the insurer is doing business;    By first class mail to any guaranty association or foreign guaranty association which is or may become obligated as a result of the liquidation;    By first class mail to all insurance agents of the insurer;    By first class mail to all persons known or reasonably expected to have claims against the insurer, including all policyholders at their last known address as indicated by the records of the insurer; and    By publication in a newspaper of general circulation in the county in which the insurer has its principal place of business and in such other locations as the liquidator deems appropriate.       Notice to potential claimants under subsection (1) of this section shall require claimants to file with the liquidator their claims together with proper proofs thereof under section 10-3-535, on or before a date the liquidator shall specify in the notice. Although an earlier date may be set by the liquidator, the last day to file claims shall be no later than eighteen months after the order of liquidation. The liquidator need not require persons claiming cash surrender values or other investment values in life insurance and annuities to file a claim. All claimants shall have a duty to keep the liquidator informed of any changes of address.    Notice under subsection (1) of this section to agents of the insurer and to potential claimants who are policyholders shall include, where applicable, notice that coverage by state guaranty associations may be available for all or part of policy benefits in accordance with applicable state guaranty laws.    The liquidator shall promptly provide to the guaranty associations such information concerning the identities and addresses of such policyholders and their policy coverages as may be within the liquidator's possession or control and shall otherwise cooperate with guaranty associations to assist them in providing to such policyholders timely notice of the guaranty associations' coverage of policy benefits, including, as applicable, coverage of claims and continuation or termination of coverages.    If notice is given in accordance with this section, the distribution of assets of the insurer under this part 5 shall be conclusive with respect to all claimants regardless of whether or not they received notice.     History. Source: L. 92: Entire part R&RE, p. 1453, § 14, effective July 1.