As used in this part 8, unless the context otherwise requires: An “affiliate” of, or person “affiliated” with, a specific person is a person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the person specified. “Commissioner” means the commissioner of insurance, the commissioner’s deputies, […]
A domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries engaged in the following kinds of business: Any kind of insurance business authorized by the jurisdiction in which it is incorporated; Acting as an insurance broker or insurance agent for its parent or […]
No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire, in the open market or otherwise, any voting security of a domestic insurer if, after the consummation of the exchange or […]
As used in this section, unless the context otherwise requires: “Acquisition” means an agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes the acquisition of voting securities, the acquisition of assets, bulk reinsurance, and mergers. For the purposes of subparagraph (IV) […]
Every insurer that is authorized to do business in this state and that is a member of an insurance holding company system shall register with the commissioner; except that registration is not required for a foreign insurer that is subject to registration requirements and standards adopted by statute or regulation in the jurisdiction of its […]
Transactions within an insurance holding company system. Transactions within an insurance holding company system to which an insurer subject to registration is a party are subject to the following standards: The terms must be fair and reasonable; Agreements for cost-sharing services and management must include such provisions as required by rules issued by the commissioner; […]
Subject to the limitation contained in this section and in addition to the powers that the commissioner has under this title relating to the examination of insurers, the commissioner may examine any insurer registered under section 10-3-804 and its affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer […]
With respect to any insurer registered under section 10-3-804, and in accordance with subsection (3) of this section, the commissioner may participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance by the insurer with this section. The powers […]
The commissioner may act as the group-wide supervisor for any internationally active insurance group in accordance with this section. However, the commissioner, in cooperation with other state, federal, and international regulatory agencies, may designate or acknowledge another regulatory official as the group-wide supervisor for an internationally active insurance group that: Does not have substantial insurance […]
Documents, materials, or other information in the possession or control of the division that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to section 10-3-806 and all information reported pursuant to section 10-3-803 (2)(l) and (2)(m), 10-3-804, or 10-3-805 are confidential […]
The commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules and orders as are necessary to carry out this part 8. Source: L. 2014: Entire part R&RE, (SB 14-152), ch. 312, p. 1350, § 2, effective July 1. Editor’s note: This section is similar to former § 10-3-808 […]
Whenever it appears to the commissioner that any insurer or any director, officer, employee, or agent of an insurer has committed or is about to commit a violation of this part 8 or of any rule or order issued by the commissioner under this part 8, the commissioner may apply to the district court for […]
Whenever it appears to the commissioner that an insurer or a director, officer, employee, or agent thereof has committed a willful violation of this part 8, the commissioner may cause criminal proceedings to be instituted in the district court for the county in which the principal office of the insurer is located or, if such […]
Whenever it appears to the commissioner that any person has committed a violation of this part 8 that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the commissioner may proceed as provided […]
Whenever it appears to the commissioner that a person has committed a violation of this part 8 that makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportunity to be heard, suspend, revoke, or refuse to renew the insurer’s license […]
A person aggrieved by an act, determination, rule, order, or other action of the commissioner pursuant to this part 8 may appeal the action to the district court for the city and county of Denver. The court shall conduct its review without a jury and by trial de novo; except that, if all parties, including […]
Subject to the limitations of this section, where a distribution or payment pursuant to paragraph (a) or (b) of this subsection (1) is made at any time during the one year preceding a petition for liquidation, conservation, or rehabilitation, as the case may be, if an order for liquidation or rehabilitation of a domestic insurer […]
All laws and parts of laws of this state inconsistent with this part 8 are hereby superseded with respect to matters covered by this part 8. Source: L. 2014: Entire part R&RE, (SB 14-152), ch. 312, p. 1354, § 2, effective July 1.
