Colorado § 10-2-406 Licensing of agencies

Colorado Statutes

§ 10-2-406 — Licensing of agencies

Colorado·Title 10 Insurance·Art. Licenses

(1)For the purposes set forth in section 10-2-701, an insurance agency or business entity shall be licensed as an insurance producer.

(2)(a) The insurance agency or business entity shall register the name of every natural person who, as a member, officer, director, stockholder, owner, or employee of the agency or business entity, is acting as and is licensed as an insurance producer.

(b)A fee, prescribed by the commissioner in accordance with section 10-2-413, shall be paid for the registration of each insurance producer.

(3)The insurance agency or business entity shall, within ten days, notify the commissioner, on a form prescribed by the commissioner, of every change relative to the licensed individual insurance producers registered and authorized to act as insurance produc

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(1) For the purposes set forth in section 10-2-701, an insurance agency or business entity shall be licensed as an insurance
producer.

(2) (a) The insurance agency or business entity shall register the name of
every natural person who, as a member, officer, director, stockholder, owner, or
employee of the agency or business entity, is acting as and is licensed as an
insurance producer.

(b) A fee, prescribed by the commissioner in accordance with section 10-2-413, shall be paid for the registration of each insurance producer.

(3) The insurance agency or business entity shall, within ten days, notify the
commissioner, on a form prescribed by the commissioner, of every change relative
to the licensed individual insurance producers registered and authorized to act as
insurance producers for the insurance agency or business entity.

(4) The insurance agency or business entity shall, within ten days, notify the
commissioner, on a form prescribed by the commissioner, of any change relative to
the insurance agency or business entity name, officers, directors, partners, or
owners, to report a merger, or that the insurance agency or business entity has
ceased doing business in this state.

(5) When an insurance agency or business entity ceases to do business in
this state, the insurance agency or business entity shall return the producer license
to the commissioner within ten days after ceasing to do business.

(6) When an insurance agency or business entity changes its principal
address to another state, the insurance agency or business entity shall, within ten
days, notify the commissioner and return the producer license for cancellation.
Relicensing will be subject to the provisions of part 5 of this article.

(7) (a) The insurance agency or business entity shall comply with section 10-2-404.

(b) A nonresident insurance agency shall also comply with the qualification
requirements of section 10-2-501.

Colorado § 10-2-406 (Licensing of agencies) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 93: Entire article R&RE, p. 1359, � 1, effective January 1, 1995. L. 2001: (1), (2)(a), (3), (4), (5), (6), and (7)(a) amended, p. 1198, � 13, effective January 1, 2002.