§ 10-3-127. Domicile of Nonprofit Hospital, Medical-Surgical, and Health Services Corporations
A corporation organized under the laws of another state for the purposes set forth in section 10-16-302 may qualify under parts 1 and 3 of article 16 of this title to do business in this state as a nonprofit hospital, medical-surgical, and health services corporation, and upon notice to the commissioner may change its domicile […]
§ 10-3-128. Domestic Insurer – Requirement to Maintain Offices in This State
Before granting the initial certificate of authority to an applicant to become a domestic insurer, the commissioner shall be satisfied by proper evidence that: The insurer’s books and records are located or maintained in this state or are readily accessible to the examiners of this state; and The grant of a certificate of authority as […]
§ 10-3-129. Prohibition – Display of Social Security Number – Insurance Companies
An insured may require that an insurance company or insurer doing business in Colorado not display the insured’s social security number on his or her insurance identification card or proof of insurance card. If an insured makes the request, the insurance company or insurer shall reissue the insured an insurance identification card or proof of […]
§ 10-3-130. Certificate of Authority Application Process – Tracking Compliance With Uniform Process
The division shall make every effort to comply with the uniform process established and endorsed by the national association of insurance commissioners for applications for certificates of authority, including compliance with established deadlines for evaluating, approving, and denying applications for certificates of authority. The division shall track all aspects of the certificate of authority application […]
§ 10-3-131. Acts of Producers – Responsibility of Insurer – Definitions
An insurer authorized to conduct business in this state, who knew or should have known about the unfair business practices of an insurance producer, may be financially responsible for the unfair business practices of the insurance producer, who, while acting on behalf of the insurer, engaged in unfair business practices that violate this title. As […]
§ 10-3-113. Increase of Capital
Any such corporation organized and duly licensed by the commissioner to conduct an insurance business may sell additional stock or increase its capital for the purpose, in the manner, and to the extent prescribed by law, but the expense incurred in connection with such sale shall not exceed twenty percent of the amount realized from […]
§ 10-3-114. Violations – Penalty
[ Editor’s note: This version of this section is effective until March 1, 2022. ] Any officer, director, clerk, employee, or agent of any such company who receives or pays out, or orders the payment of, any money, or incurs any obligation for the payment of money, in violation of the terms of section 10-3-113 […]
§ 10-3-117. License Automatically Extended – When
When the annual statement of an insurance company licensed to do business in this state has been filed and the company’s check or cash for the amount of all fees and taxes required has been tendered, the company’s license to do business in this state shall be automatically extended until the commissioner refuses to relicense […]
§ 10-3-120. Investments of Officers, Directors, and Principal Stockholders
Every person who is directly or indirectly the beneficial owner of more than ten percent of any class of equity security of a domestic stock insurance company or who is a director or an officer of such company shall file in the office of the commissioner within ten days after the person becomes such beneficial […]
§ 10-3-121. Regulation of Proxies, Consents, or Authorizations
The purpose of this section is to regulate the solicitation of proxies, consents, or authorizations by domestic stock insurers having one hundred or more stockholders of record in accordance with the intent of congress as expressed in the “Securities Acts Amendments of 1964”, by declaring unlawful certain solicitation practices and providing for the regulation thereof. […]