Title 10, Insurance
0 chapters · 1,354 sections in this title.
Colo. Rev. Stat. § 10-2-607 Location of sales
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To the extent practicable, a financial institution's sale of insurance shall be in a location distinct from a teller window or common teller area. Unlicensed employees of financial institutions shall not sell insurance or annuities. Such employees may direct customers to licensed…
Colo. Rev. Stat. § 10-2-701 Assumed names - registration - rules
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Any insurance producer using an assumed name, including without limitation a trade or fictitious name, under which the insurance producer conducts business shall register the name with the insurance commissioner prior to using the assumed name. The commissioner shall not accept r…
Colo. Rev. Stat. § 10-2-702 Commissions
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(1) No insurer or insurance producer shall pay, directly or indirectly, any commission, service fee, brokerage, or other valuable consideration to any person selling, soliciting, or negotiating insurance within this state unless, at the time such services were performed, such per…
Colo. Rev. Stat. § 10-2-703 Countersignature not required. (Repealed)
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Source: L. 93: Entire article R&RE, p. 1370, � 1, effective January 1, 1995. L. 2001: Entire section repealed, p. 1210, � 31, effective January 1, 2002.
Colo. Rev. Stat. § 10-2-704 Fiduciary responsibilities
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(1) (a) All premiums belonging to insurers and all unearned premiums belonging to insureds received by an insurance producer licensee under this article shall be treated by such insurance producer in a fiduciary capacity. The commissioner may promulgate such rules as are necessar…
Colo. Rev. Stat. § 10-2-705 Bail bond documents - requirements - rules
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(1) The insurance producer who posts a bail bond with the court on behalf of a defendant shall ensure that the following documents comply with the following provisions: (a) An indemnity agreement must: (I) Be in writing; (II) Be signed by the producer; (III) Be signed by the defe…
Colo. Rev. Stat. § 10-2-706 Insurance producer designee - responsibility
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An insurance producer may use another properly licensed and appointed insurance producer as an agent to comply with the requirements of section 10-2-705, but the insurance producer who posts the bail bond with the court is responsible for compliance with section 10-2-705 and is s…
Colo. Rev. Stat. § 10-2-707 Business practices - price limits - collateral
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(1) An insurance producer who writes bail bonds shall not charge a premium or commission of more than the greater of fifty dollars or fifteen percent of the amount of bail furnished. An insurance producer who writes bail bonds shall not assess fees for any bail bond posted by the…
Colo. Rev. Stat. § 10-2-801 Licenses - denial, suspension, revocation, termination - reporting of actions - definitions
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(1) The commissioner may place an insurance producer on probation; suspend, revoke, or refuse to issue, continue, or renew an insurance producer license; order restitution to be paid from an insurance producer; or assess a civil penalty pursuant to section 10-2-804 or 10-3-1108, …
Colo. Rev. Stat. § 10-2-802 Surrender of license
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(1) An insurance producer license issued under this article, although issued and delivered to the licensee, shall at all times be the property of the state of Colorado and shall be surrendered or returned promptly to the commissioner by personal delivery or by certified or regist…
Colo. Rev. Stat. § 10-2-803 Notice of penalty, suspension, termination, revocation, or denial
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(1) The commissioner shall promptly notify any insurance producer licensee regarding any penalty assessed, suspension, revocation, termination, or denial of the licensee's license by the commissioner. (2) Upon assessment of a penalty, suspension, revocation, or termination of the…
Colo. Rev. Stat. § 10-2-804 Investigation by commissioner
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(1) The commissioner may examine and investigate the business affairs and conduct of every person applying for or holding an insurance producer license under this article to determine whether such person has been or is engaged in any violation of the insurance laws or rules of th…
Colo. Rev. Stat. § 10-2-901 Short title
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This part 9 shall be known and may be cited as the Reinsurance Intermediary Act. Source: L. 93: Entire article R&RE, p. 1374, � 1, effective January 1, 1995. Editor's note: This section is similar to former � 10-2-301 as it existed prior to 1993.
Colo. Rev. Stat. § 10-2-902 Definitions
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As used in this part 9, unless the context otherwise requires: (1) Controlling person means any person, firm, association, or corporation that directly or indirectly has the power to direct or cause to be directed, the management, control, or activities of the reinsurance interme…
Colo. Rev. Stat. § 10-2-903 Licensure
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(1) No person, firm, association, or corporation shall act as an RP in this state if the RP maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation: (a) In this state, unless such RP is a licen…
Colo. Rev. Stat. § 10-2-904 Required contract provisions - reinsurance intermediary-producers
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(1) Transactions between an RP and the insurer such RP represents shall only be entered into pursuant to a written authorization specifying the responsibilities of each party. The authorization shall, at a minimum, contain provisions that: (a) The insurer may terminate the RP's a…
Colo. Rev. Stat. § 10-2-905 Books and records - reinsurance intermediary-producers
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(1) For at least ten years after expiration of each contract of reinsurance transacted by the RP, the RP shall keep a complete record for each transaction showing: (a) The type of contract, limits, underwriting restrictions, classes, or risks and territory; (b) The period of cove…
Colo. Rev. Stat. § 10-2-906 Duties of insurers utilizing the services of a reinsurance intermediary-producer
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(1) An insurer shall not engage the services of any person, firm, association, or corporation to act as an RP on its behalf unless such person is licensed as required by section 10-2-903 (1). (2) An insurer may not employ an individual who is employed by an RP with which it trans…
Colo. Rev. Stat. § 10-2-907 Required contract provisions - reinsurance intermediary-managers
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(1) Transactions between an RM and the reinsurer such RM represents shall only be entered into pursuant to a written contract specifying the responsibilities of each party, which shall be approved by the reinsurer's board of directors. At least thirty days before such reinsurer a…
Colo. Rev. Stat. § 10-2-908 Prohibited acts
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(1) The RM shall not: (a) Bind retrocessions on behalf of the reinsurer; except that the RM may bind facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Suc…
Colo. Rev. Stat. § 10-2-909 Duties of reinsurers utilizing the services of a reinsurance intermediary-manager
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(1) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as an RM on its behalf unless such person is licensed as required by section 10-2-903 (2). (2) The reinsurer shall annually obtain a copy of statements of the financial condition…
Colo. Rev. Stat. § 10-2-910 Examination authority
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(1) A reinsurance intermediary shall be subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the commissioner. (2) An RM may be examined as if it were the reinsu…
Colo. Rev. Stat. § 10-2-911 Penalties and liabilities
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(1) A reinsurance intermediary, insurer, or reinsurer found by the commissioner, after a hearing conducted in accordance with article 4 of title 24, C.R.S., to be in violation of any provision of this part 9 shall: (a) For each separate violation, pay a penalty in an amount not t…
Colo. Rev. Stat. § 10-2-912 Rules and regulations
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The commissioner may adopt reasonable rules and regulations for the implementation and administration of the provisions of this part 9. Source: L. 93: Entire article R&RE, p. 1382, � 1, effective January 1, 1995. Editor's note: This section is similar to former � 10-2-312 as it e…