Colorado § 10-1-306 Market conduct surveillance personnel

Colorado Statutes

§ 10-1-306 — Market conduct surveillance personnel

Colorado·Title 10 Insurance·Art. General Provisions

(1)Market conduct surveillance personnel must be qualified by education, experience, and, where applicable, professional designations. The commissioner may supplement the in-house market conduct surveillance staff with qualified outside professional assistance if the commissioner determines that outside assistance is necessary.

(2)The commissioner shall not appoint market conduct surveillance personnel who, either directly or indirectly, have a conflict of interest or are affiliated with the management of or own a pecuniary interest in any person subject to any type of market conduct surveillance under this part 3; except that this section does not preclude market conduct surveillance personnel from being:

(a)A policyholder or claimant under an insurance policy;

(b)A grantor

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(1) Market conduct
surveillance personnel must be qualified by education, experience, and, where
applicable, professional designations. The commissioner may supplement the in-house market conduct surveillance staff with qualified outside professional
assistance if the commissioner determines that outside assistance is necessary.

(2) The commissioner shall not appoint market conduct surveillance
personnel who, either directly or indirectly, have a conflict of interest or are
affiliated with the management of or own a pecuniary interest in any person subject
to any type of market conduct surveillance under this part 3; except that this
section does not preclude market conduct surveillance personnel from being:

(a) A policyholder or claimant under an insurance policy;

(b) A grantor of a mortgage or similar instrument on the market conduct
surveillance employee's residence to a regulated entity if done under customary
terms and in the ordinary course of business;

(c) An investment owner in shares of regulated diversified investment
companies; or

(d) A settlor or beneficiary of a blind trust into which any otherwise
impermissible holdings have been placed.

(3) Notwithstanding any provision of this section to the contrary, the
commissioner may retain from time to time, on an individual basis, qualified
actuaries, certified public accountants, or similar individuals who are independently
practicing their professions even though those individuals may from time to time be
similarly employed or retained by companies subject to market conduct
surveillance under this part 3.

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