Colorado § 10-1-202 Definitions

Colorado Statutes

§ 10-1-202 — Definitions

Colorado·Title 10 Insurance·Art. General Provisions

As used in this part 2, unless the context otherwise requires:

(1)Company means any person or group of persons engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons who may otherwise be subject to any administrative, regulatory, or taxing authority of the commissioner as well as any advisory organization or rating organization as defined in section 10-4-402.

(2)Examination means a formal financial examination, as well as informal examinations, conducted by the commissioner for the purpose of determining compliance with the law.

(3)Examiner means any individual or firm authorized by the commissioner to conduct an examination under this part 2.

(4)Informal examination means all inquiries

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As used in this part 2, unless the context otherwise
requires:

(1) Company means any person or group of persons engaging in or
proposing or attempting to engage in any transaction or kind of insurance or surety
business and any person or group of persons who may otherwise be subject to any
administrative, regulatory, or taxing authority of the commissioner as well as any
advisory organization or rating organization as defined in section 10-4-402.

(2) Examination means a formal financial examination, as well as informal
examinations, conducted by the commissioner for the purpose of determining
compliance with the law.

(3) Examiner means any individual or firm authorized by the commissioner
to conduct an examination under this part 2.

(4) Informal examination means all inquiries by the division into the
financial condition of a company, other than the formal financial examination of a
company that must be conducted once every five years pursuant to section 10-1-203 (1).

(5) Insurance department means the commissioner or other government
official or agency of a state other than Colorado exercising powers and duties
substantially equivalent to those of the commissioner or the division.

(6) Insurer means any person, firm, corporation, association, or aggregation
of persons doing an insurance business and subject to the insurance supervisory
authority of, or to liquidation, rehabilitation, reorganization, or conservation by, the
commissioner or any equivalent insurance supervisory official of another state.

(7) NAIC or national association of insurance commissioners means the
organization of insurance regulators from the fifty states, the District of Columbia,
and the five United States territories.

(8) Person means any individual, aggregation of individuals, trust,
association, partnership, or corporation, or any agent or affiliate thereof.

Colorado § 10-1-202 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 2003: Entire article RC&RE, p. 605, � 1, effective July 1. L. 2006: (1.5), (1.7), and (8) to (19) added and (7) amended, p. 960, � 3, effective January 1, 2007. L. 2017: Entire section amended, (HB 17-1231), ch. 284, p. 1553, � 2, effective January 1, 2018. L. 2023: (7) amended, (HB 23-1301), ch. 303, p. 1816, � 5, effective August 7.