Colorado § 10-12-104 Fees - annual statement - tax

Colorado Statutes

§ 10-12-104 — Fees - annual statement - tax

Colorado·Title 10 Insurance·Art. Mutual Insurance

(1)The association shall pay to the division of insurance the fees as prescribed pursuant to section 10-3-207 (4).

(2)(a) Each agent, solicitor, special agent, or salaried representative soliciting business in this state shall be licensed by the division of insurance upon application of the association and shall be subject to the insurance licensing laws of the state. The fee for the initial license is five dollars, and the fee for filing each annual notice of intention to keep the agent's license in force is two dollars.

(b)Notwithstanding the amount specified for any fee in paragraph (a) of this subsection (2), the commissioner by rule or as otherwise provided by law may reduce the amount of one or more of the fees if necessary pursuant to section 24-75-402 (3), C.R.S., to re

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(1) The association shall pay to
the division of insurance the fees as prescribed pursuant to section 10-3-207 (4).

(2) (a) Each agent, solicitor, special agent, or salaried representative
soliciting business in this state shall be licensed by the division of insurance upon
application of the association and shall be subject to the insurance licensing laws
of the state. The fee for the initial license is five dollars, and the fee for filing each
annual notice of intention to keep the agent's license in force is two dollars.

(b) Notwithstanding the amount specified for any fee in paragraph (a) of this
subsection (2), the commissioner by rule or as otherwise provided by law may
reduce the amount of one or more of the fees if necessary pursuant to section 24-75-402 (3), C.R.S., to reduce the uncommitted reserves of the fund to which all or
any portion of one or more of the fees is credited. After the uncommitted reserves
of the fund are sufficiently reduced, the commissioner by rule or as otherwise
provided by law may increase the amount of one or more of the fees as provided in
section 24-75-402 (4), C.R.S.

(3) The association shall render an annual statement of accounts and such
records of the financial condition of the association as may be required by the
commissioner, who shall furnish forms for this purpose. The commissioner shall
have the same supervisory authority over such association as is provided by law in
the case of other insurance companies and associations, and the commissioner
shall collect two and one-fourth percent premium tax from each of the associations
or companies as provided in section 10-3-209.

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Legislative History

Source: L. 49: p. 459, � 3. CSA: C. 87, � 91(3). CRS 53: � 72-5-4. C.R.S. 1963: � 72-5-4. L. 65: p. 753, � 4. L. 67: p. 33, � 1. L. 91: (1) amended, p. 1233, � 7, effective June 5. L. 98: (2) amended, p. 1327, � 31, effective June 1.