For the purposes of this part 6: (Deleted by amendment, L. 97, p. 426 , § 1, effective April 24, 1997.) “Credit insurance” has the same meaning as set forth in section 10-10-103 (2) . “Credit life insurance” means insurance on the life of a debtor pursuant to or in connection with a specific loan […]
In addition to the requirements of section 10-3-1105, no financial institution, or subsidiary or employee of a financial institution, shall extend credit, lease or sell property of any kind, furnish any service, or fix or vary the consideration for any such extension of credit, lease, sale, or service on the condition or requirement that the […]
Any financial institution, or any subsidiary or employee thereof, which sells a fixed or variable annuity contract shall receive written acknowledgment from the purchaser that the annuity which is being purchased may involve investment risk and is not insured by the federal deposit insurance corporation or the national credit union share insurance fund. Such written […]
A financial institution, and any person selling insurance with a cash value or a cash accumulation component on behalf of a financial institution, shall disclose to the financial institution’s customers or members, and on any advertisements or promotional material, that insurance offered, recommended, sponsored, or sold by the financial institution, or on the premises of […]
No financial institution, or any subsidiary, affiliate, or employee of a financial institution, may issue advertising that would lead a reasonable person to believe that the state of Colorado or the federal government: Is responsible for insurance sales activities of the financial institution or any subsidiary, affiliate, or employee thereof; Guarantees any return on insurance […]
No financial institution shall: Require, as a condition of providing or renewing a contract for providing a product or service to any customer, that the customer purchase, finance, or negotiate any policy or contract of insurance through any particular person; In connection with a loan or extension of credit that requires a borrower to obtain […]
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 persons. Source: L. 97: Entire section added, p. 431, § 4, effective April […]
