§ 10-7-801. Short Title

The short title of this part 8 is the “Unclaimed Life Insurance Benefits Act”. Source: L. 2019: Entire part added, (SB 19-088), ch. 110, p. 463, § 4, effective July 1, 2020.

§ 10-7-802. Definitions

As used in this part 8, unless the context otherwise requires: “Contract” means an annuity contract. The term does not include an annuity used to fund an employment-based retirement plan or program if: The insurer does not perform the record-keeping services; or The insurer is not committed by terms of the annuity contract to pay […]

§ 10-7-803. Insurers – Duty to Compare Names of Insureds With Death Master File and to Locate Beneficiaries

An insurer shall make a good faith effort to determine the death of an insured upon receipt of knowledge of death. An insurer shall perform a comparison of its insureds’ in-force policies, contracts, and retained asset accounts against a death master file, on at least a semiannual basis, by using the full death master file […]