Colorado § 10-20-102 Legislative declaration

Colorado Statutes

§ 10-20-102 — Legislative declaration

Colorado·Title 10 Insurance·Art. Life and Health Insurance

(1)The general assembly finds and declares that the purpose of this article 20 is to protect, subject to certain limitations, the persons specified in section 10-20-104 (1) against failure by member insurers in the performance of their contractual obligations under life insurance policies, health insurance policies, health benefit plans, and annuity policies, plans, or contracts specified in section 10-20-104 (2) because of the insolvency of the member insurer that issued the policies, plans, or contracts.

(2)To provide the protection specified in subsection (1) of this section, an association of member insurers shall be created and shall exist to pay benefits and to continue coverages as limited pursuant to this article 20. Member insurers of the association are subject to ass

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(1) The general assembly finds and
declares that the purpose of this article 20 is to protect, subject to certain
limitations, the persons specified in section 10-20-104 (1) against failure by member
insurers in the performance of their contractual obligations under life insurance
policies, health insurance policies, health benefit plans, and annuity policies, plans,
or contracts specified in section 10-20-104 (2) because of the insolvency of the
member insurer that issued the policies, plans, or contracts.

(2) To provide the protection specified in subsection (1) of this section, an
association of member insurers shall be created and shall exist to pay benefits and
to continue coverages as limited pursuant to this article 20. Member insurers of the
association are subject to assessment to provide funds to carry out the purpose of
this article 20.

Colorado § 10-20-102 (Legislative declaration) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 91: Entire article added, p. 1256, � 1, effective July 1. L. 2023: Entire section amended, (HB 23-1303), ch. 195, p. 978, � 3, effective May 15.