Colorado Statutes
§ 10-2-1003 — Licensure
(1)No person, firm, association, or corporation shall
act in the capacity of an MGA with respect to risks located in this state for an
insurer licensed in this state unless such person is a licensed producer in this state.
(2)No person, firm, association, or corporation shall act in the capacity of an
MGA representing an insurer domiciled in this state with respect to risks located
outside this state unless such person is licensed as a producer in this state (such
license may be a nonresident license) pursuant to the provisions of this part 10.
(3)The commissioner may require a bond in an amount acceptable to the
commissioner for the protection of the insurer.
(4)The commissioner may require the MGA to maintain an errors and
omissions policy.
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Legislative History
Source: L. 93: Entire article R&RE, p. 1384, � 1, effective January 1, 1995.
Nearby Sections
15
§ 10-1-101
Legislative declaration§ 10-1-102
Definitions§ 10-1-105
Actuary§ 10-1-107
Personal fees prohibited§ 10-1-109
Rules of commissioner§ 10-1-111
Invoking aid of courts§ 10-1-113
No seal required on policies§ 10-1-114
Sale of premium notes prohibited§ 10-1-115
Penalty§ 10-1-116
Defamation of other companies - penalty§ 10-1-117
Company unauthorized in other states