§ 10-2-802 — Surrender of license

Colorado § 10-2-802

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Licenses

Text

(1) An insurance producer license issued
under this article, although issued and delivered to the licensee, shall at all times
be the property of the state of Colorado and shall be surrendered or returned
promptly to the commissioner by personal delivery or by certified or registered mail
within fifteen days under any of the following conditions:

(a) Suspension, revocation, or termination of the license;

(b) Discontinuation or nonrenewal of the license by the licensee;

(c) Cessation of residency in this state or, in the case of a nonresident
licensee, cessation of residency in the licensee's resident state; or

(d) Suspension, termination, or revocation of a nonresident licensee's license
in the state of residence.

(2) The commissioner may require surrender of an insurance producer
license for any proper reason in addition to the grounds stated in subsection (1) of
this section.

(3) As to any insurance producer license issued pursuant to this article which
is lost, stolen, or destroyed while in the possession of the licensee, the
commissioner may accept, in lieu of return of the license, the affidavit of the
individual licensee or, in the case of an insurance agency or business entity, the
person given responsibility for custody of the license, as to the facts concerning
such loss, theft, or destruction.

Legislative History

Source: L. 93: Entire article R&RE, p. 1372, � 1, effective January 1, 1995. L. 2001: (3) amended, p. 1212, � 34, effective January 1, 2002.