§ 10-15-117. Reinstatement of License
The commissioner may reinstate a suspended license or issue a new license to a person whose license has been revoked if no fact or condition then exists which clearly would have justified the commissioner in refusing originally to issue such license and the violations of this article which preceded the suspension or revocation of the […]
§ 10-15-118. Violation
[ Editor’s note: This version of subsection (1) is effective until March 1, 2022.] Any person who violates any provision of this article commits a class 3 misdemeanor and shall be punished as provided in section 18-1.3-501, C.R.S. Any person who violates the trust fund provisions of this article or any other misappropriation of funds […]
§ 10-15-119. Immunity From Prosecution
If any person asks to be excused from attending and testifying or from producing any books, papers, records, correspondence, or other documents at any hearing on the ground that the testimony or evidence required of the person may tend to incriminate the person or subject the person to a penalty or forfeiture, and, notwithstanding such […]
§ 10-15-120. Rule Against Perpetuities Inapplicable
No trust created pursuant to the provisions of this article, nor any interest therein, shall be deemed to be invalid by any existing law or rule against perpetuities or accumulations or suspension of the power of alienation and such trust and any interest therein may continue for such time as may be necessary to accomplish […]
§ 10-15-121. Other Insurance Laws Applicable
In addition to the provisions of this article, the provisions of article 1 of this title and parts 9 and 11 of article 3 of this title, except as they are inconsistent with the provisions or purposes of this article, shall apply to any person regulated pursuant to this article. Source: L. 95: Entire article […]
§ 10-15-123. Repeal of Article
This article 15 is repealed, effective September 1, 2022. Before its repeal, the department of regulatory agencies shall review the regulation of preneed funeral contracts in accordance with section 24-34-104. Source: L. 2017: Entire section added, (SB 17-249), ch. 283, p. 1544, § 6, effective June 1.
§ 10-15-109. Disbursements – Excess Trust Assets
At reasonable times, and unless the trustee is notified by the commissioner that the preneed seller is in violation of the provisions of this article or by the contract seller not to disburse trust assets, the trustee shall disburse excess trust assets to the contract seller in accordance with the terms of the preneed contract […]
§ 10-15-110. Discharge of Preneed Contract – Disbursements by Trustees
Before disbursing any trust assets to discharge a preneed contract, the trustee shall determine that the amount of assets to be released does not exceed the funds trusted. If a preneed contract is canceled by the contract buyer or the contract buyer’s heirs, assigns, or duly authorized representatives, the trustee shall require a copy of […]
§ 10-15-111. Insurance-Funded Preneed Contracts
If a contract seller enters into a preneed contract in which the consideration is the assignment of life insurance benefits, such preneed contract shall state that all or part of such assigned funds shall be paid to the contract seller to pay for the services or merchandise, or both, included in the preneed contract. The […]
§ 10-15-111.5. Change of Ownership – Rules
A sale of an existing preneed contract that changes who provides funeral goods and services is void unless approved by the commissioner under this section. To transfer ownership, the contract seller must report a pending sale of the preneed contract to the commissioner in writing at least fourteen days before the sale closing. The notice […]