reglab/housing_qa huggingface dataset:
CO Code § 10-5-104 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-104. Endorsement of Contract

 Every insurance contract procured and delivered as a surplus line coverage pursuant to this article shall be initialed by or bear the name of the surplus line broker who procured it and shall have stamped upon it the following: “This contract is delivered as a surplus line coverage under the ‘Nonadmitted Insurance Act'. The insurer issuing this contract is not licensed in Colorado but is an eligible nonadmitted insurer. There is no protection under the provisions of the ‘Colorado Insurance Guaranty Association Act'.”   History. Source: L. 49: P. 468, § 3. CSA: C. 87, § 320. CRS 53: § 72-14-3. C.R.S. 1963: § 72-13-3. L. 95: Entire section amended, p. 492, § 11, effective May 16. L. 2012: Entire section amended,(HB 12-1215), ch. 104, p. 355, § 10, effective August 8. History. Source: L. 49: P. 468, § 3. CSA: C. 87, § 320. CRS 53: § 72-14-3. C.R.S. 1963: § 72-13-3. L. 95: Entire section amended, p. 492, § 11, effective May 16. L. 2012: Entire section amended,(HB 12-1215), ch. 104, p. 355, § 10, effective August 8.    Cross references:   For the “Colorado Insurance Guaranty Association Act”, see part 5 of article 4 of this title 10.
CO Code § 10-5-105 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-105. Surplus Line Insurance Valid

 Insurance contracts procured as surplus line coverage from nonadmitted insurers in accordance with this article shall be fully valid and enforceable as to all parties and shall be given recognition in all matters and respects to the same effect as like contracts issued by admitted insurers.   History. Source: L. 49: P. 468, § 4. CSA: C. 87, § 321. CRS 53: § 72-14-4. C.R.S. 1963: § 72-13-4. L. 95: Entire section amended, p. 492, § 12, effective May 16. History. Source: L. 49: P. 468, § 4. CSA: C. 87, § 321. CRS 53: § 72-14-4. C.R.S. 1963: § 72-13-4. L. 95: Entire section amended, p. 492, § 12, effective May 16.
CO Code § 10-5-106 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-106. When Export Declared Eligible

 The commissioner may, by rule, declare eligible for export generally, notwithstanding the provisions of section 10-5-103 (1)(b) and (1)(c), any class of insurance coverage or risk for which the commissioner finds that there is no reasonable or adequate market among insurers licensed in this state. For the purposes of this section, the diligent effort requirements of this article shall not apply to transactions with exempt commercial policyholders, as defined pursuant to section 10-4-1402 and rules adopted by the commissioner pursuant to that section.   History. Source: L. 49: P. 468, § 5. CSA: C. 87, § 322. CRS 53: § 72-14-5. C.R.S. 1963: § 72-13-5. L. 77: Entire section repealed, p. 506, § 7, effective January 1, 1978. L. 81: Entire section RC&RE, p. 539, § 4, effective January 1, 1982. L. 92: Entire section amended, p. 1491, § 20, effective July 1. L. 99: Entire section amended, p. 388, § 11, effective January 15, 2000. History. Source: L. 49: P. 468, § 5. CSA: C. 87, § 322. CRS 53: § 72-14-5. C.R.S. 1963: § 72-13-5. L. 77: Entire section repealed, p. 506, § 7, effective January 1, 1978. L. 81: Entire section RC&RE, p. 539, § 4, effective January 1, 1982. L. 92: Entire section amended, p. 1491, § 20, effective July 1. L. 99: Entire section amended, p. 388, § 11, effective January 15, 2000.
CO Code § 10-5-107 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-107. Brokers May Accept Business From Producers

 A licensed surplus line broker may accept and place surplus line business for any insurance producer licensed in this state for the kind of insurance involved and may compensate such agent or broker therefor.   History. Source: L. 49: P. 468, § 6. CSA: C. 87, § 323. CRS 53: § 72-14-6. C.R.S. 1963: § 72-13-6. L. 2001: Entire section amended, p. 1213, § 38, effective January 1, 2002. History. Source: L. 49: P. 468, § 6. CSA: C. 87, § 323. CRS 53: § 72-14-6. C.R.S. 1963: § 72-13-6. L. 2001: Entire section amended, p. 1213, § 38, effective January 1, 2002.
CO Code § 10-5-109 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-109. Records of Surplus Line Broker

 Each licensed surplus line broker shall keep in the broker's office a full and true record of each surplus line contract procured by the broker, including a copy of the daily report, if any, showing such of the following items as may be applicable: Amount of the insurance; gross premiums charged; return premium paid, if any; rate of premium charged upon the several items of property; effective date of the contract and the terms thereof; name and address of the insurer; name and address of the insured; brief general description of property insured and where located; other information as may be required by the commissioner. The record shall at all times be open to examination by the commissioner.   History. Source: L. 49: P. 469, § 8. CSA: C. 87, § 325. CRS 53: § 72-14-8. C.R.S. 1963: § 72-13-8. L. 2001: Entire section amended, p. 1213, § 39, effective January 1, 2002. History. Source: L. 49: P. 469, § 8. CSA: C. 87, § 325. CRS 53: § 72-14-8. C.R.S. 1963: § 72-13-8. L. 2001: Entire section amended, p. 1213, § 39, effective January 1, 2002.
CO Code § 10-5-110 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-110. Statement - Rules

  Each surplus line broker and every person that enters into an independent procurement for nonadmitted insurance shall file with the commissioner a verified statement of all insurance transacted by the broker or other person during the preceding reporting period. The commissioner shall, by rule, determine the reporting period.    The statement must be on forms as prescribed and furnished by the commissioner, and must show: Gross amount of each kind of insurance transacted, aggregate gross premiums charged, aggregate of returned premiums paid to insureds, aggregate of net premiums, and additional information as required by the commissioner.     History. Source: L. 49: P. 469, § 9. CSA: C. 87, § 326. CRS 53: § 72-14-9. C.R.S. 1963: § 72-13-9. L. 2012: Entire section amended,(HB 12-1215), ch. 104, p. 353, § 3, effective August 8. History. Source: L. 49: P. 469, § 9. CSA: C. 87, § 326. CRS 53: § 72-14-9. C.R.S. 1963: § 72-13-9. L. 2012: Entire section amended,(HB 12-1215), ch. 104, p. 353, § 3, effective August 8.
CO Code § 10-5-111 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-111. Tax on Premiums

  Each surplus line broker and every person that enters into an independent procurement for nonadmitted insurance shall remit to the division of insurance a tax on the net premiums, exclusive of sums collected to cover federal and other state taxes and examination fees, on nonadmitted insurance subject to tax under this article during the preceding reporting period as shown by the statement filed with the commissioner. The net premiums must be taxed at the rates described in section 10-5-111.5.    If a surplus line policy or independently procured policy covers an insured whose home state is Colorado, and that policy covers risks or exposures located outside of Colorado, the tax payable is computed using the allocation method contained in section 10-5-111.5.     History. Source: L. 49: P. 470, § 10. CSA: C. 87, § 327. CRS 53: § 72-14-10. C.R.S. 1963: § 72-13-10. L. 92: (1) amended, p. 1761, § 2, effective February 28. L. 2012: Entire section amended,(HB 12-1215), ch. 104, p. 353, § 4, effective August 8. History. Source: L. 49: P. 470, § 10. CSA: C. 87, § 327. CRS 53: § 72-14-10. C.R.S. 1963: § 72-13-10. L. 92: (1) amended, p. 1761, § 2, effective February 28. L. 2012: Entire section amended,(HB 12-1215), ch. 104, p. 353, § 4, effective August 8.    Cross references:   For additional taxes required by this article 5, see § 10-3-209 .
CO Code § 10-5-111.5 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-111.5. Allocation of Premium Tax

  In determining the amount of tax payable to Colorado, the entire amount of tax payable at a rate of three percent on the net premiums is presumed to be owed to Colorado; except that, for those multistate risks involving states that have entered into either a compact or a tax-sharing agreement with Colorado to share the tax, the premium tax rate and the amounts allocated to the other states are subject to determination according to the terms of the compact or agreement.    The commissioner may participate in tax-sharing agreements to collect and disburse funds in accordance with subsection (1) of this section, if the purposes of the tax-sharing agreement are limited to:   Facilitating the payment and allocation of premium taxes on nonadmitted insurance for multistate risks among states participating in the agreement;    Adopting uniform requirements, forms, and procedures that facilitate the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance for multistate risks;    Coordinating the reporting of premium taxes and transaction data of multistate risks among the states participating in the agreement; and    Establishing a mechanism to facilitate the receipt and distribution of premium taxes and transaction data related to nonadmitted insurance of multistate risks.        History. Source: L. 2012: Entire section added,(HB 12-1215), ch. 104, p. 353, § 5, effective August 8.
CO Code § 10-5-112 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-112. Penalty for Failure to Comply

 If any surplus line broker fails to file the annual statement, or fails to remit the tax provided by section 10-5-111 , prior to the first day of April after the tax is due, the broker shall be liable for a fine of twenty-five dollars for each day of delinquency commencing with the first day of April. The tax may be collected by distraint, or the tax and fine may be recovered by an action instituted by the commissioner in any court of competent jurisdiction.   History. Source: L. 49: P. 470, § 11. CSA: C. 87, § 328. CRS 53: § 72-14-11. C.R.S. 1963: § 72-13-11. L. 2005: Entire section amended, p. 736, § 2, effective January 1, 2006. History. Source: L. 49: P. 470, § 11. CSA: C. 87, § 328. CRS 53: § 72-14-11. C.R.S. 1963: § 72-13-11. L. 2005: Entire section amended, p. 736, § 2, effective January 1, 2006.
CO Code § 10-5-113 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-113. Revocation of Broker's License

  The commissioner may revoke any surplus line broker's license:   If the broker fails to file the annual statement or to remit the tax as required by this article; or    If the broker fails to keep the records, or to allow the commissioner to examine the broker's records as required by this article; or    For any of the causes for which a general broker's license may be revoked.       The commissioner may suspend or revoke any such license whenever the commissioner deems suspension or revocation to be for the best interest of the people of this state.    The procedures provided by law for the suspension or revocation of general brokers' licenses shall be applicable to suspension or revocation of a surplus line broker's license.    No broker whose license has been so revoked or suspended shall again be so licensed within one year thereafter or until any fines or delinquent taxes owing by the broker have been paid.     History. Source: L. 49: P. 470, § 12. CSA: C. 87, § 329. CRS 53: § 72-14-12. C.R.S. 1963: § 72-13-12. L. 95: IP(1) amended, p. 496, § 14, effective May 16. L. 2001: (1)(b) amended, p. 1213, § 40, effective January 1, 2002. L. 2005: (1)(a), (2), and (4) amended, p. 736, § 3, effective January 1, 2006. History. Source: L. 49: P. 470, § 12. CSA: C. 87, § 329. CRS 53: § 72-14-12. C.R.S. 1963: § 72-13-12. L. 95: IP(1) amended, p. 496, § 14, effective May 16. L. 2001: (1)(b) amended, p. 1213, § 40, effective January 1, 2002. L. 2005: (1)(a), (2), and (4) amended, p. 736, § 3, effective January 1, 2006.    Cross references:   For limitation on revocation of licenses, see article 4 of title 24; for the procedure for revocation of broker's license, see part 8 of article 2 of this title 10.
CO Code § 10-5-114 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-114. Actions Against Insurer - Service

  A nonadmitted insurer may be sued, upon any cause of action arising in this state under any contract issued by it as a surplus line contract, pursuant to this article, in the district court of the county in which the cause of action arose.    Service of legal process against the insurer may be made in any such action by service upon the commissioner. The commissioner shall forthwith mail the documents of process served, or a true copy thereof, to the person designated by the insurer pursuant to rule of the commissioner for the purpose by prepaid certified mail with return receipt requested. The insurer shall have forty days from the date of service upon the commissioner within which to plead, answer, or otherwise defend the action. Upon service of process upon the commissioner in accordance with this provision, the court shall be deemed to have jurisdiction in personam of the insurer.    A nonadmitted insurer issuing such policy shall be deemed thereby to have authorized service of process against it, in the manner and to the effect as provided in this section, and to have appointed the commissioner as its agent for service of process issuing upon any cause of action arising in this state under any such policy. Any such policy shall contain a provision stating the substance of this section and designating the person to whom the commissioner shall mail process as provided in subsection (2) of this section.     History. Source: L. 49: P. 471, § 13. CSA: C. 87, § 330. CRS 53: § 72-14-13. C.R.S. 1963: § 72-13-13. L. 73: P. 848, § 4. L. 86: (2) amended, p. 556, § 7, effective July 1. L. 89: (2) amended, p. 438, § 9, effective July 1. L. 95: (1) and (3) amended, p. 496, § 15, effective May 16. L. 98: (2) amended, p. 228, § 2, effective April 10. L. 2001: (2) amended, p. 1213, § 41, effective January 1, 2002. History. Source: L. 49: P. 471, § 13. CSA: C. 87, § 330. CRS 53: § 72-14-13. C.R.S. 1963: § 72-13-13. L. 73: P. 848, § 4. L. 86: (2) amended, p. 556, § 7, effective July 1. L. 89: (2) amended, p. 438, § 9, effective July 1. L. 95: (1) and (3) amended, p. 496, § 15, effective May 16. L. 98: (2) amended, p. 228, § 2, effective April 10. L. 2001: (2) amended, p. 1213, § 41, effective January 1, 2002.    Cross references:   For service of legal process, see § 10-3-1003 .
CO Code § 10-5-116 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-116. Records Produced on Order

 Every person for whom insurance is placed with a nonadmitted insurer pursuant to or in violation of this article, upon the commissioner's order, shall produce for the commissioner's examination all policies and other documents evidencing the insurance and shall disclose to the commissioner the amount of the gross premiums paid or agreed to be paid for the insurance. For each refusal to obey such order, such person shall be liable to a fine of not more than ten thousand dollars.   History. Source: L. 49: P. 472, § 15. CSA: C. 87, § 332. CRS 53: § 72-14-15. C.R.S. 1963: § 72-13-15. L. 95: Entire section amended, p. 497, § 17, effective May 16. L. 2005: Entire section amended, p. 736, § 4, effective January 1, 2006. History. Source: L. 49: P. 472, § 15. CSA: C. 87, § 332. CRS 53: § 72-14-15. C.R.S. 1963: § 72-13-15. L. 95: Entire section amended, p. 497, § 17, effective May 16. L. 2005: Entire section amended, p. 736, § 4, effective January 1, 2006.
CO Code § 10-5-117 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-117. Rules and Regulations

 The commissioner may make and publish reasonable rules and regulations consistent with this article in respect to the transactions governed thereby and for the basis for his determination under this article.   History. Source: L. 49: P. 472, § 16. CSA: C. 87, § 333. CRS 53: § 72-14-16. C.R.S. 1963: § 72-13-16. History. Source: L. 49: P. 472, § 16. CSA: C. 87, § 333. CRS 53: § 72-14-16. C.R.S. 1963: § 72-13-16.    Cross references:   For rule-making procedures, see article 4 of title 24.
CO Code § 10-5-118 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-118. Notice Provisions Not Applicable to Surplus Lines

 The notice provisions in sections 10-4-109.7 , 10-4-110 , .5 , and 10-4-110.7 shall not be applicable to insurance companies authorized pursuant to this article to write surplus lines insurance in Colorado.   History. Source: L. 87: Entire section added, p. 434, § 9, effective May 1.
CO Code § 10-5-119 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 5 - Nonadmitted Insurance|§ 10-5-119. Disclosures Regarding Claims-Made Policies by Surplus Line Brokers or Insurers

  In the event that a contract procured or placed by a Colorado surplus line broker is on a claims-made or other nonoccurrence policy form, the broker or the nonadmitted insurer shall stamp on the face of the policy a clear disclosure, as prescribed by the commissioner, which shall be in predominate type.    The disclosure requirement in subsection (1) of this section shall not apply to transactions with exempt commercial policyholders as defined by section 10-4-1402 and the rules adopted by the commissioner pursuant to such section.     History. Source: L. 87: Entire section added, p. 434, § 9, effective May 1. L. 92: Entire section amended, p. 1494, § 22, effective July 1. L. 95: Entire section amended, p. 497, § 18, effective May 16. L. 2005: Entire section amended, p. 736, § 5, effective January 1, 2006.
CO Code § 10-6-101 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-101. Short Title

 This article shall be known and may be cited as the “Colorado Captive Insurance Company Act”.   History. Source: L. 72: P. 428, § 1. C.R.S. 1963: § 72-36-1. History. Source: L. 72: P. 428, § 1. C.R.S. 1963: § 72-36-1.
CO Code § 10-6-102 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-102. Legislative Declaration

 It is the policy of the general assembly and the intent and purpose of this article to simplify the procedures for organizing and regulating the operations of captive insurance companies within the state of Colorado, to encourage the formation of such companies while retaining the integrity, financial solvency, and stability of insurance operations, and thereby promoting economic development and the general welfare of the people of the state of Colorado.   History. Source: L. 72: P. 428, § 1. C.R.S. 1963: § 72-36-2. L. 89: Entire section amended, p. 462, § 1, effective April 15. L. 94: Entire section amended, p. 541, § 1, effective April 6. History. Source: L. 72: P. 428, § 1. C.R.S. 1963: § 72-36-2. L. 89: Entire section amended, p. 462, § 1, effective April 15. L. 94: Entire section amended, p. 541, § 1, effective April 6.
CO Code § 10-6-105 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-105. Employee Benefits - Minimum Coverages

  Any captive insurance company issuing employee benefits coverages, as approved by the commissioner, in its plan of operation shall provide the minimum mandated insurance coverages required of insurance companies in the state.      (Deleted by amendment,L. 91, p. 1224, § 4, effective May 24, 1991.)    (Deleted by amendment,L. 94, p. 542, § 3, effective April 6, 1994.)         History. Source: L. 72: P. 430, § 1. C.R.S. 1963: § 72-36-5. L. 76: (1) and (2)(a) amended, p. 381, § 3, effective April 6. L. 87: (2) amended, p. 436, § 3, effective May 22. L. 89: (1) amended, p. 463, § 3, effective April 15. L. 91: Entire section amended, p. 1224, § 4, effective May 24. L. 94: Entire section amended, p. 542, § 3, effective April 6. History. Source: L. 72: P. 430, § 1. C.R.S. 1963: § 72-36-5. L. 76: (1) and (2)(a) amended, p. 381, § 3, effective April 6. L. 87: (2) amended, p. 436, § 3, effective May 22. L. 89: (1) amended, p. 463, § 3, effective April 15. L. 91: Entire section amended, p. 1224, § 4, effective May 24. L. 94: Entire section amended, p. 542, § 3, effective April 6.    ANNOTATION   Law reviews. For article, “The Pros and Cons of a Captive Legal Malpractice Insurer”, see 16 Colo. Law. 244 (1986).
CO Code § 10-6-106 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-106. Names of Companies

 No captive insurance company shall adopt the name of any existing company nor any name which may be misleading to the public.   History. Source: L. 72: P. 430, § 1. C.R.S. 1963: § 72-36-6. L. 94: Entire section amended, p. 543, § 4, effective April 6. History. Source: L. 72: P. 430, § 1. C.R.S. 1963: § 72-36-6. L. 94: Entire section amended, p. 543, § 4, effective April 6.
CO Code § 10-6-108 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-108. Control of Operations

 The business of each captive insurance company shall be managed by a board of directors or other governing body consisting of not less than three persons. The organizational documents or bylaws shall provide for the terms, meetings, and elections of the directors and officers of the governing body. No individual may serve as a director or officer who has been convicted of fraud involving any financial institution or of a felony involving misuse of funds.   History. Source: L. 72: P. 431, § 1. C.R.S. 1963: § 72-36-8. L. 89: (1) amended, p. 464, § 5, effective April 15. L. 94: Entire section R&RE, p. 545, § 6, effective April 6. History. Source: L. 72: P. 431, § 1. C.R.S. 1963: § 72-36-8. L. 89: (1) amended, p. 464, § 5, effective April 15. L. 94: Entire section R&RE, p. 545, § 6, effective April 6.    ANNOTATION   Law reviews. For article, “The Pros and Cons of a Captive Legal Malpractice Insurer”, see 16 Colo. Law. 244 (1986).
CO Code § 10-6-113 (2021)
2021 Colorado Code|Title 10 - Insurance|Article 6 - Captive Insurance Companies|§ 10-6-113. Authority to Do Business

  The certificate of authority issued to a captive insurance company shall expire on June 30 each year and shall be renewed annually, upon payment of all required fees and filing of all lawfully required reports, if the company has continued to comply with the laws of this state.    Within thirty business days from the day the division of insurance receives a complete filing, the division shall render a decision on the application.     History. Source: L. 72: P. 432, § 1. C.R.S. 1963: § 72-36-13. L. 76: (2) amended, p. 381, § 4, effective April 6. L. 87: (2) amended, p. 437, § 4, effective May 22. L. 91: (2) amended, p. 1225, § 5, effective May 24. L. 92: (1) amended, p. 1562, § 69, effective July 1. L. 94: Entire section amended, p. 545, § 7, effective April 6. History. Source: L. 72: P. 432, § 1. C.R.S. 1963: § 72-36-13. L. 76: (2) amended, p. 381, § 4, effective April 6. L. 87: (2) amended, p. 437, § 4, effective May 22. L. 91: (2) amended, p. 1225, § 5, effective May 24. L. 92: (1) amended, p. 1562, § 69, effective July 1. L. 94: Entire section amended, p. 545, § 7, effective April 6.