§ 10-14-704. Penalties
[ Editor’s note: This version of subsection (1) is effective until March 1, 2022.] Any person, officer, member, or examining physician of any society authorized to do business under this article who knowingly or willfully makes any false or fraudulent statement or representation in or with reference to any application for membership, or for the […]
§ 10-14-705. Exemption of Certain Societies
Nothing in this article shall be construed to affect or apply to: Grand or subordinate lodges of masons, odd fellows, or knights of Pythias (exclusive of the insurance department of the supreme lodge knights of Pythias) or the junior order of united American mechanics (exclusive of the beneficiary degree or insurance branch of the national […]
§ 10-14-504. Taxation
Every society organized or licensed under this article is hereby declared to be a charitable and benevolent institution, and all of its funds shall be exempt from all and every state, county, district, municipal, and school tax other than taxes on real estate and office equipment. Source: L. 93: Entire article amended with relocations, p. […]
§ 10-14-703. Review
All final decisions and findings of the commissioner made under the provisions of this article shall be subject to judicial review by the court of appeals pursuant to section 24-4-106 (11), C.R.S. Source: L. 93: Entire article amended with relocations, p. 608, § 1, effective July 1.
§ 10-14-505. Rules and Regulations of Commissioner
The commissioner may establish and from time to time amend such reasonable rules and regulations as are necessary to enable the commissioner to carry out the commissioner’s duties under the laws of this state and the provisions of this article. Source: L. 93: Entire article amended with relocations, p. 603, § 1, effective July 1.
§ 10-14-601. Valuation
Standards of valuation for certificates issued prior to July 1, 1994, shall be those provided by the statutes applicable immediately prior to July 1, 1993. The minimum standards of valuation for certificates issued on or after July 1, 1994, shall be based on the valuation methods, standards, and practices (including interest assumptions) set forth in […]
§ 10-14-602. Reports
Reports shall be filed in accordance with the provisions of this section. Every society transacting business in this state shall annually, on or before the first day of March, file with the commissioner a true statement of its financial condition, transactions, and affairs for the preceding calendar year, unless for cause shown such time has […]
§ 10-14-603. Annual Certificate of Authority
Societies that are authorized to transact business in this state as of July 1, 1993, and all societies authorized thereafter, may continue such business until June 30, 1994. The authority of all such societies may thereafter be renewed annually but shall terminate on the last day of the succeeding June. However, a certificate of authority […]
§ 10-14-604. Cash Capital
To avoid situations where a society’s transactions would create undue financial risks to its enrollees, subscribers, certificate holders, or the people of this state, the regulations specified in this section are authorized. The commissioner may by regulation establish standards consistent with those of the national association of insurance commissioners which require any society to maintain […]
§ 10-14-605. Examination of Societies
The examination of societies, both at the initial formation and at any time during which any such society is authorized to transact business in this state, shall follow the same standards and procedures that apply to life insurers. The cost of any such examination may be assessed by the commissioner to be paid by the […]