Colorado § 10-20-106 Creation of the association

Colorado Statutes

§ 10-20-106 — Creation of the association

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

(1)There is hereby created a private nonprofit legal entity to be known as the life and health insurance protection association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or health maintenance organization business in this state. The association shall perform its functions pursuant to the plan of operation specified in section 10-20-110 and shall exercise its powers through the board of directors provided in section 10-20-107. For purposes of administration and assessment, the association shall maintain three accounts:

(a)The life insurance account;

(b)The health insurance account; and

(c)The annuity account.

(2)The association is under the supervision of the commissioner and is subject to th

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(1) There is hereby created a private
nonprofit legal entity to be known as the life and health insurance protection
association. All member insurers shall be and remain members of the association as
a condition of their authority to transact insurance or health maintenance
organization business in this state. The association shall perform its functions
pursuant to the plan of operation specified in section 10-20-110 and shall exercise
its powers through the board of directors provided in section 10-20-107. For
purposes of administration and assessment, the association shall maintain three
accounts:

(a) The life insurance account;

(b) The health insurance account; and

(c) The annuity account.

(2) The association is under the supervision of the commissioner and is
subject to the applicable provisions of the insurance laws of this state. Meetings or
records of the association may be opened to the public consistent with the
provisions of the insurance laws of Colorado upon majority vote of the board.

Colorado § 10-20-106 (Creation of the association) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 91: Entire article added, p. 1261, � 1, effective July 1. L. 2013: (2) amended, (SB 13-032), ch. 34, p. 87, � 3, effective March 15. L. 2023: IP(1) amended, (HB 23-1303), ch. 195, p. 984, � 6, effective May 15.