2023 Colorado Revised Statutes › Title 10 - INSURANCE (§§ 10-1-101 — 10-23-110) › REGULATION OF INSURANCE COMPANIES (§§ 10-3-101 — 10-3.5-111) › Article 3 - REGULATION OF INSURANCE COMPANIES (§§ 10-3-101 — 10-3-1716) › Part 2 - FINANCIAL AFFAIRS (§§ 10-3-201 — 10-3-244) › Section 10-3-207 - Fees paid by insurance companies

(1)
Every entity regulated by the division in this state shall pay the following fees to the division:
(a)
For investigating and processing an initial application for authorization or licensure as a foreign or domestic insurance company to do business in this state, a nonrefundable fee of five hundred dollars, which fee shall accompany each application for authorization or licensure;
(b)
In each year subsequent to 1992, in addition to any fee collected under paragraph (a) of this subsection (1), every insurance company, interinsurance company, fraternal benefit society, health maintenance organization, and nonprofit hospital, medical-surgical, and health service corporation licensed or authorized in this state that is regulated by the division of insurance shall make an annual nonrefundable payment on or before March 1 of each year based on the schedule specified in this paragraph (b) at the time of authorization and each subsequent renewal year. For nonadmitted insurers and accredited reinsurers, the fee specified in this paragraph (b) shall be considered to include the fee pursuant to paragraph (a) of this subsection (1):
(I)
For insurance companies, interinsurance companies, fraternal benefit societies, health maintenance organizations, and nonprofit hospital, medical-surgical, and health service corporations that have prior year's direct written premiums, gross contract funds, or charges received in Colorado not exceeding one million dollars, a fee of six hundred seventy dollars;
(II)
For insurance companies, interinsurance companies, fraternal benefit societies, health maintenance organizations, and nonprofit hospital, medical-surgical, and health service corporations that have prior year's direct written premiums, gross contract funds, or charges received in Colorado in excess of one million dollars but not exceeding ten million dollars, a fee of two thousand ten dollars. Any insurance company that did not write at least eighty thousand dollars of taxable premiums in the previous year in Colorado shall not exceed the fee as otherwise would have been payable pursuant to subparagraph (I) of this paragraph (b).
(III)
For insurance companies, interinsurance companies, fraternal benefit societies, health maintenance organizations, and nonprofit hospital, medical-surgical, and health service corporations that have prior year's direct written premiums, gross contract funds, or charges received in Colorado in excess of ten million dollars, a fee of three thousand three hundred forty-five dollars. Any insurance company that did not write at least one hundred twenty thousand dollars of taxable premium in Colorado shall not exceed the fee as otherwise would have been payable pursuant to subparagraph (II) of this paragraph (b).
(c)
(Deleted by amendment, L. 92, p. 1545, § 36, effective July 1, 1992.)
(d) and (e)
Repealed.
(f)
(I)
For the purpose of providing adequate funds to the division for market analysis, investigation, and enforcement of article
11
of this title and rules adopted pursuant to said article 11, in addition to any other fee collected pursuant to this subsection (1), each title insurer regulated by the division pursuant to article
11
of this title shall pay a nonrefundable annual fee on or before March 1 of each year. This fee shall be established by the commissioner in an amount sufficient to support two full-time equivalents within the division.
(II)
Repealed.
(III)
Notwithstanding any provision of section
10-1-103
or
10-1-108(9)
to the contrary, all fees and surcharges collected pursuant to this paragraph (f) shall be transmitted to the state treasurer, who shall deposit the same in the division of insurance cash fund created in section
10-1-103
, and shall be subject to annual appropriation to the division and to the department of law for the purposes set forth in this paragraph (f).
(IV)
Notwithstanding section
24-1-136(11)(a)(I)
, commencing January 1, 2009, the division shall provide annual reports to the joint budget committee, the senate business, labor, and technology committee, and the house business affairs and labor committee, or any successor committees, and shall post on the division's website a statistical report of the number of enforcement actions taken, market trends associated with title insurance and real estate transactions, and consumer complaints supported by the fee in subparagraph (I) of this paragraph (f).
(1.5)
Every entity regulated by the division of insurance not identified in paragraph (b) of subsection (1) of this section shall pay a fee of five hundred dollars at the time of its license or authorization renewal.
(2)
Fees collected by the division of insurance pursuant to this section shall be transmitted to the state treasurer and credited to the division of insurance cash fund, created in section
10-1-103(3)
.
(3)
(Deleted by amendment, L. 92, p. 1545, § 36, effective July 1, 1992.)
(4)
Fair and reasonable fees for various administrative services of the division of insurance, including but not limited to copying, record searches, computer listings, computer disks or tapes, and requests for any such services from individuals, shall be determined by the commissioner.
(5)
Notwithstanding the amount specified for any fee in this section, the commissioner by rule or as otherwise provided by law may reduce the amount of one or more of the fees if necessary pursuant to section
24-75-402(3)
, C.R.S., to reduce the uncommitted reserves of the fund to which all or any portion of one or more of the fees is credited. After the uncommitted reserves of the fund are sufficiently reduced, the commissioner by rule or as otherwise provided by law may increase the amount of one or more of the fees as provided in section
24-75-402(4)
, C.R.S.
Amended by 2017 Ch. 4,§ 2, eff. 8/9/2017.
L. 13: p. 331, § 14. C.L. § 2484. CSA: C. 87, § 12. L. 53: p. 369, § 1. CRS 53: § 72-1-12. L. 59: p. 507, § 2. C.R.S. 1963: § 72-1-12. L. 65: pp. 752, 753, §§ 1, 2. L. 71: p. 693, § 1. L. 77: (1)(q) added, p. 503, § 1, effective March 7. L. 78: (1)(h), (1)(i), (2)(d), and (2)(e) amended, p. 290, § 4, effective July 1. L. 86: (1)(d), (1)(e), (2)(d), and (2)(e) amended, p. 554, § 4, effective July 1. L. 89: (1)(d), (1)(e), (1)(j), (2)(d), and (2)(e) amended, p. 436, § 6, effective July 1. L. 91: Entire section amended, p. 1229, § 4, effective June 5. L. 92: Entire section amended, p. 1545, § 36, effective July 1. L. 95: IP(1)(b) amended, p. 490, § 3, effective May 16. L. 96: (1)(d) added, p. 684, § 1, effective August 1. L. 97: (1)(b) amended, p. 1413, § 5, effective June 3; (1)(e) added, p. 1043, § 5, effective August 6. L. 98: (5) added, p. 1325, § 26, effective June 1. L. 2006: (1)(e) amended, p. 1209, § 1, effective May 26; (1)(d) repealed, p. 1490, § 10, effective June 1. L. 2007: (1)(f) added, p. 1749, § 1, effective June 1. L. 2008: IP(1) amended, p. 1880, § 12, effective August 5. L. 2010: (1)(e) repealed, (HB 10-1385), ch. 204, p. 884, §9, effective May 5. L. 2017: (1)(f)(IV) amended, (SB 17-044), ch. 4, p. 6, § 2, effective August 9.
(1) Subsection (1)(f)(II)(B) provided for the repeal of subsection (1)(f)(II), effective July 1, 2008. (See L. 2007, p. 1749.)
(2) Subsection (1)(e) was relocated to §
10-3-207.5
in 2010.
For disposition of fees, see § 10-1-108.